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  4. [Form 4] Toast, Inc. Insider Trading Activity

Toast, Inc. (TOST) CEO trust sells 138,052 shares under 10b5-1 plan

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Toast, Inc. reported that CEO Aman Narang, through the Starlight 2026 Charitable Remainder Trust, sold a total of 138,052 shares of Class A common stock on August 5–6, 2026. The sales, executed at weighted average prices around $35 per share, were made pursuant to a Rule 10b5-1 trading plan adopted on March 13, 2026.

Reported Class A holdings after these transactions include 70,451 shares held directly, 200,000 shares held via The Narang Family Trust, and 100,750 shares held via Starlight 2026 Trust LLC. Narang also owns 18,612,840 shares of Class B common stock, each convertible into one Class A share.

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Insights

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Insider Narang Aman
Role CEO
Sold 138,052 shs ($4.87M)
Type Security Shares Price Value
Sale Class A Common Stock F1, F3 13,510 $35.021 $473K
Sale Class A Common Stock F1, F2 124,458 $35.294 $4.39M
Sale Class A Common Stock F1 84 $36.11 $3K
holding Class A Common Stock -- -- --
holding Class A Common Stock -- -- --
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 161,948 shares (Indirect, Starlight 2026 Charitable Remainder Trust); Class A Common Stock — 70,451 shares (Direct); Class A Common Stock — 200,000 shares (Indirect, The Narang Family Trust); Class A Common Stock — 100,750 shares (Indirect, Starlight 2026 Trust LLC)
Footnotes (3)
  1. F1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Starlight 2026 Charitable Remainder Trust on March 13, 2026.
  2. F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35 to $35.91 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.
  3. F3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35 to $35.23 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.
Shares sold in August 2026 138,052 shares of Class A common stock Total shares sold indirectly by Starlight 2026 Charitable Remainder Trust on 2026-08-05 and 2026-08-06
Sale price 2026-08-05 block $35.294 per share Weighted average price for 124,458 shares sold on 2026-08-05, with trade prices from $35 to $35.91
Sale price 2026-08-06 block $35.021 per share Weighted average price for 13,510 shares sold on 2026-08-06, with trade prices from $35 to $35.23
Direct Class A holdings 70,451 shares Class A common stock held directly by Aman Narang as of 2026-08-05
Narang Family Trust holdings 200,000 shares Class A common stock held indirectly via The Narang Family Trust as of 2026-08-05
Starlight 2026 Trust LLC holdings 100,750 shares Class A common stock held indirectly via Starlight 2026 Trust LLC as of 2026-08-05
Class B common stock holdings 18,612,840 shares Class B common stock owned as of the Form 4 date, each convertible into one Class A share
Rule 10b5-1 trading plan regulatory
"This transaction was 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.
Charitable Remainder Trust financial
"adopted by the Starlight 2026 Charitable Remainder Trust on March 13"
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.
Class B common stock financial
"owns 18,612,840 shares of Class B common stock of the Issuer."
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What insider stock sales did Toast (TOST) disclose for CEO Aman Narang?
Toast disclosed that CEO Aman Narang, via the Starlight 2026 Charitable Remainder Trust, sold a total of 138,052 Class A shares on August 5–6, 2026, at weighted average prices around $35 per share, under a Rule 10b5-1 trading plan.

Were the Toast (TOST) insider sales made under a Rule 10b5-1 plan?
Yes. A footnote states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the Starlight 2026 Charitable Remainder Trust on March 13, 2026, and the filing’s Rule 10b5-1 checkbox is also affirmed.

How many Toast (TOST) Class A shares does Aman Narang report holding?
Reported holdings include 70,451 Class A shares held directly, plus 200,000 shares held indirectly via The Narang Family Trust and 100,750 shares held indirectly via Starlight 2026 Trust LLC, all as of August 5, 2026.

What Class B holdings does Toast (TOST) CEO Aman Narang report?
The remarks section notes that Aman Narang owns 18,612,840 shares of Class B common stock. Each Class B share is convertible at any time into one Class A share of Toast, Inc.

At what prices were the recent Toast (TOST) insider share sales executed?
For 124,458 shares sold on August 5, 2026, the weighted average price was $35.294, with trades from $35 to $35.91. For 13,510 shares sold on August 6, 2026, the weighted average price was $35.021, with trades from $35 to $35.23.

Which entity executed the recent Toast (TOST) insider sales for Aman Narang?
All reported sales were by the Starlight 2026 Charitable Remainder Trust, shown as an indirect owner of the Class A shares. Aman Narang is the reporting person, but the transactions are attributed to this trust entity.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Narang Aman
(Last)(First)(Middle)
TOAST, INC.
333 SUMMER STREET
(Street)
BOSTON MASSACHUSETTS 02210
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Toast, Inc. [ TOST ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/05/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Class A Common Stock08/05/2026S(1)124,458D$35.294(2)175,542IStarlight 2026 Charitable Remainder Trust
Class A Common Stock08/05/2026S(1)84D$36.11175,458IStarlight 2026 Charitable Remainder Trust
Class A Common Stock08/06/2026S(1)13,510D$35.021(3)161,948IStarlight 2026 Charitable Remainder Trust
Class A Common Stock70,451D
Class A Common Stock200,000IThe Narang Family Trust
Class A Common Stock100,750IStarlight 2026 Trust LLC
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Starlight 2026 Charitable Remainder Trust on March 13, 2026.
2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35 to $35.91 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.
3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35 to $35.23 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.
Remarks:
As of the date of this Form 4, the Reporting Person also owns 18,612,840 shares of Class B common stock of the Issuer. Each Class B common stock is convertible at any time into one share of the Class A common stock of the Issuer.
/s/ Xing Yan as Attorney-in-Fact for Aman Narang08/07/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR