Toast revenue chief Vassil sells 6,657 shares under plan
The reported sales had separate terms: one followed a Rule 10b5-1 plan, while the other covered RSU tax withholding.
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Form Type
4
Rhea-AI Filing Summary
Toast, Inc. Chief Revenue Officer Jonathan Vassil exercised options to acquire 6,657 Class A shares at $2.21 per share on October 2, 2026, then sold 6,657 shares at a weighted average price of $30.032 under a Rule 10b5-1 trading plan adopted on March 13, 2026.
On October 1, restricted stock units converted one-for-one into 4,748, 4,987, 3,430 and 1,101 Class A shares as they vested and settled. On October 2, Vassil also sold 6,808 shares to cover tax withholding obligations tied to RSU vesting and settlement; the sale was not discretionary. His reported option position after the exercise was 279,214 shares. The Jonathan S. Vassil Grantor Retained Annuity Trust #1 held 84,269 shares indirectly as of October 1, 2026.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
13 txns
Insider
Vassil Jonathan
Role
Chief Revenue Officer
Sold
13,465 shs ($400K)
Approx. gross sale proceeds
$400K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) F3, F9 | 6,657 | $0.00 | $0.00 |
| Sale | Class A Common Stock F2 | 6,808 | $29.354 | $200K |
| Exercise | Class A Common Stock F3 | 6,657 | $2.21 | $15K |
| Sale | Class A Common Stock F3, F4 | 6,657 | $30.032 | $200K |
| Exercise | Restricted Stock Units F1, F5 | 4,748 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F6 | 4,987 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F7 | 3,430 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F8 | 1,101 | $0.00 | $0.00 |
| Exercise | Class A Common Stock F1 | 4,748 | -- | -- |
| Exercise | Class A Common Stock F1 | 4,987 | -- | -- |
| Exercise | Class A Common Stock F1 | 3,430 | -- | -- |
| Exercise | Class A Common Stock F1 | 1,101 | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 89,124 contracts (Direct);
Stock Option (Right to Buy) — 279,214 contracts (Direct);
Class A Common Stock — 77,424 shares (Direct);
Class A Common Stock — 84,269 shares (Indirect, The Jonathan S. Vassil Grantor Retained Annuity Trust #1)
Footnotes (9)
- F1. The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
- F2. Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person.
- F3. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 13, 2026.
- F4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30 to $30.10 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
- F5. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.
- F6. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.
- F7. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.
- F8. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2026.
- F9. The shares subject to this option are fully vested and exercisable as of the date hereof.
Key Figures
Options exercised: 6,657 shares
Option exercise price: $2.21 per share
Plan-associated sale and weighted average price: 6,657 shares; $30.032 per share
+4 more
7 metrics
Options exercised
6,657 shares
October 2, 2026
Option exercise price
$2.21 per share
Options exercised October 2, 2026
Plan-associated sale and weighted average price
6,657 shares; $30.032 per share
October 2, 2026
Shares sold for RSU tax withholding
6,808 shares
October 2, 2026
Price for RSU tax-withholding sale
$29.354 per share
October 2, 2026
Reported post-exercise option position
279,214 shares
After the October 2, 2026 exercise
Trust's indirect Class A shareholding
84,269 shares
As of October 1, 2026
Key Terms
Rule 10b5-1 trading plan, Restricted Stock Units, weighted average price, tax withholding obligations, +1 more
5 terms
Rule 10b5-1 trading plan financial
"effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Restricted Stock Units financial
"The Restricted Stock Units ("RSUs") convert into Class A Common Stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
weighted average price financial
"The reported price in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
tax withholding obligations financial
"to cover tax withholding obligations in connection with the vesting and settlement of RSUs"
Grantor Retained Annuity Trust financial
"The Jonathan S. Vassil Grantor Retained Annuity Trust #1"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many TOST options did Jonathan Vassil exercise?
He exercised options to acquire 6,657 Class A shares at an exercise price of $2.21 per share on October 2, 2026; his reported option position after the transaction was 279,214 shares.
When was Jonathan Vassil's TOST trading plan adopted?
The Rule 10b5-1 trading plan associated with the 6,657-share option exercise and sale was adopted on March 13, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
