TOST insider disposes 150,000 Class A shares; multiple sales in June–Aug 2025

Rhea-AI Filing Summary

Form 144 notice for Toast, Inc. (TOST) reports proposed sale of Class A common stock by an insider and recent insider sales. The filing lists a broker (Fidelity Brokerage Services) and an approximate sale date of 08/25/2025 for 150,000 Class A shares with an aggregate market value of $6,588,000. The filer acquired the shares through stock options granted on 03/22/2021 (113,450 shares) and 03/15/2022 (36,550 shares), and payment is noted as cash. The filing also discloses multiple Class A sales by Christopher P. Comparato during June–August 2025 totaling several hundred thousand shares with reported gross proceeds for each sale.

Positive

• Clear regulatory disclosure: The filing identifies the broker, sale date, share amount, and aggregate market value, supporting compliance with Rule 144
• Source of shares disclosed: Acquisitions are shown as option grants with grant dates, clarifying how the shares were obtained

Negative

• Insider selling activity: Multiple sales by Christopher P. Comparato in June–August 2025 and a planned sale of 150,000 shares may be viewed as significant insider liquidity
• Limited context: The filing contains no operational or financial performance information about the issuer to explain the sales

Insights

Securities Analyst

TL;DR: Insider intends to sell 150,000 Class A shares on 08/25/2025; multiple prior sales by the same insider occurred in June–August 2025.

The filing is a routine Rule 144 disclosure showing a proposed sale financed by exercise of previously granted options. The reported acquisitions on 03/22/2021 and 03/15/2022 indicate these shares were obtained via issuer-issued options. The planned sale value of $6.588 million is explicit and the broker is identified. Recent transactions by Christopher P. Comparato are itemized with dates, amounts, and gross proceeds, which provides clear traceability of insider liquidity events without additional company operational data in this filing.

Corporate Governance Expert

TL;DR: Disclosure complies with Rule 144 requirements and documents ongoing insider disposals; no operational disclosures provided.

The notice serves compliance and transparency purposes, listing the relationship to the issuer and confirming cash payment for the shares. It contains no statements about company performance or undisclosed material information; the signer represents no known undisclosed material adverse information. From a governance standpoint, the form documents executive share monetization but does not itself signal governance irregularities.

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	150000	6588000.00	510000000	08/25/2025	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	08/25/2025	Option Granted - 03/22/2021	Issuer			113450	08/25/2025	Cash
Class A	08/25/2025	Option Granted - 03/15/2022	Issuer			36550	08/25/2025	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	5406305.29
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/14/2025	124509	5339755.23
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/18/2025	124509	5292018.48
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/20/2025	124509	5236362.95
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/21/2025	152615	6436568.15

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 Toast, Inc. (TOST) disclose?

It discloses a proposed sale of 150,000 Class A shares on 08/25/2025 with aggregate market value $6,588,000, the broker (Fidelity Brokerage Services), and prior insider sales.

Who conducted recent insider sales disclosed in this filing?

Recent sales listed were by Christopher P. Comparato, with multiple Class A share sales between 06/20/2025 and 08/21/2025.

How were the shares to be sold acquired?

The shares were acquired via options granted on 03/22/2021 (113,450 shares) and 03/15/2022 (36,550 shares); payment is noted as cash.

Does the Form 144 report any undisclosed material company information?

By signing, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed; no additional material information is included in the filing.

What broker is handling the proposed sale?

The broker named is Fidelity Brokerage Services LLC (900 Salem Street, Smithfield, RI).