Toast (TOST) Form 144 Discloses Multiple Insider Sales Totaling 688,527 Shares

Rhea-AI Filing Summary

Form 144 for Toast, Inc. (TOST) shows a proposed sale under Rule 144 of 124,509 Class A shares to be sold through Fidelity Brokerage Services on 08/18/2025 with an indicated aggregate market value of $5,372,563.35. The filing identifies prior sales by the same person, Christopher P. Comparato, across June–August 2025 totaling 688,527 Class A shares with gross proceeds reported for each sale. The securities were acquired via an option granted 02/08/2019 and exercised/acquired on 08/18/2025 with payment in cash. The filer certifies there is no undisclosed material adverse information and follows the Rule 144 disclosure requirements.

Positive

• Clear compliance with Rule 144 disclosure requirements including broker, share counts, acquisition details, and certification of no undisclosed material information
• Full disclosure of multiple prior sales with specific dates and gross proceeds, improving transparency

Negative

• Insider dispositions: Multiple sales by Christopher P. Comparato totaling 688,527 shares in June–August 2025, which may be noted by investors

Insights

Securities Analyst

TL;DR: Insider executed multiple Rule 144 sales totaling 688,527 Class A shares, with a planned 124,509-share sale valued at ~$5.37M.

The filing documents routine compliance with Rule 144 for sales by an individual who acquired the shares via an option granted in 2019 and recorded acquisition/payment on 08/18/2025. The historic sale dates and gross proceeds are disclosed for June–August 2025. Given the issuer's large outstanding share count (510,000,000), the disclosed transactions represent a small percentage of total shares outstanding and provide transparent market activity data for investors.

Corporate Governance Expert

TL;DR: The filer complied with required certification and disclosed multiple insider dispositions; documentation appears complete for Rule 144 purposes.

The notice includes the required representation that no material nonpublic information is known and cites the trading mechanics (option grant date and cash payment). It lists the broker and exact share counts and proceeds for each recent sale, supporting governance transparency. The filing does not raise procedural red flags based on the disclosed fields alone.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	124509	5372563.35	510000000	08/18/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	08/18/2025	Option Granted - 02/08/2019	Issuer			124509	08/18/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	06/20/2025	70000	2966558.00
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	07/17/2025	70000	3224676.00
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/07/2025	175000	7943495.00
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/11/2025	124509	5418867.27
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/13/2025	124509	5406303.29
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/14/2025	124509	5339755.23

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for TOST report?

The form reports a proposed sale of 124,509 Class A shares via Fidelity on 08/18/2025 with an aggregate market value of $5,372,563.35.

Who is the seller named on the filing?

The filing identifies Christopher P. Comparato as the person for whose account the securities are to be sold.

How many shares were sold by the same person in the prior three months?

The filing discloses prior sales on 06/20/2025, 07/17/2025, 08/07/2025, 08/11/2025, 08/13/2025, and 08/14/2025 totaling 688,527 Class A shares with listed gross proceeds for each sale.

How were the securities acquired according to the filing?

The securities were acquired via an option granted on 02/08/2019, with the acquisition/payment recorded on 08/18/2025 and paid in cash.

What percentage of outstanding shares does the planned sale represent?

The filing lists 510,000,000 shares outstanding; the planned sale of 124,509 shares represents a small fraction of total outstanding shares.