Toast (NYSE: TOST) director reports RSU vesting and new stock grant

Rhea-AI Filing Summary

Toast, Inc. director Richard Kent Bennett reported equity compensation activity involving Restricted Stock Units (RSUs) and Class A Common Stock. On June 12, 2026, 5,256 RSUs indirectly held for his benefit converted into 5,256 shares of Class A Common Stock at no cost upon vesting and settlement.

These shares, and any proceeds from their sale, have been contractually assigned to Deer Management Co. LLC (DMC) under an existing arrangement. The filing also shows a new grant of 8,888 RSUs, which will convert into an equal number of Class A shares upon future vesting, with the right to any resulting shares or proceeds likewise assigned to DMC. Separately, Bennett continues to hold 534,167 shares of Class A Common Stock directly.

Insights

Equity compensation analyst

Routine director equity awards and RSU vesting with assigned rights.

The filing shows Richard Kent Bennett, a director of Toast, Inc., receiving and settling stock-based compensation rather than trading in the open market. On June 12, 2026, 5,256 RSUs vested and converted into 5,256 Class A shares at $0.00 per share.

The filing also records a new grant of 8,888 RSUs, each exchangeable one-for-one into Class A Common Stock upon vesting. Footnotes explain that Bennett has agreed to assign to Deer Management Co. LLC (DMC) the right to any shares issuable from these RSUs or proceeds from their sale, indicating the economic interest is attributed to that entity.

These are compensation-related acquisitions rather than open-market purchases or sales, and the overall pattern appears routine. The filing also notes 534,167 Class A shares held directly after the reported date, giving a sense of Bennett’s continuing direct equity stake alongside the indirect RSU-related interests assigned to DMC.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Bennett Richard Kent

Role null

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	8,888	$0.00	--
Exercise	Restricted Stock Units	5,256	$0.00	--
Exercise	Class A Common Stock	5,256	$0.00	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 8,888 shares (Indirect, See Footnotes); Class A Common Stock — 5,256 shares (Indirect, See Footnote); Class A Common Stock — 534,167 shares (Direct, null)

Footnotes (1)

1. The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement. The Reporting Person has agreed to assign to Deer Management Co. LLC ("DMC") the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof. The RSUs vested in full on June 12, 2026. The RSUs shall vest in full on the earlier of 1) June 12, 2027 and 2) the next annual meeting of the Issuer's stockholders following the grant date. The Reporting Person has agreed to assign to "DMC" the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof. Not Applicable.

Key Figures

RSUs converted: 5,256 shares New RSU grant: 8,888 RSUs Director direct holdings: 534,167 shares +1 more

4 metrics

RSUs converted 5,256 shares RSUs converted into Class A Common Stock on June 12, 2026

New RSU grant 8,888 RSUs Grant linked one-for-one to Class A Common Stock

Director direct holdings 534,167 shares Class A Common Stock held directly after reported date

RSU conversion price $0.00 per share RSUs converted into Class A shares at no cost

Key Terms

Restricted Stock Units, Class A Common Stock, grant, award, or other acquisition, vesting and settlement, +1 more

5 terms

Restricted Stock Units financial

"The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement."

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.

Class A Common Stock financial

"The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement."

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

vesting and settlement financial

"RSUs convert into Class A Common Stock on a one-for-one basis upon vesting and settlement."

Deer Management Co. LLC financial

"The Reporting Person has agreed to assign to Deer Management Co. LLC ("DMC") the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof."

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED 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).

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^*

Bennett Richard Kent

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Restricted Stock Units	06/12/2026		M		5,256	D	$0.00(1)	0	I	See Footnote(2)
Class A Common Stock	06/12/2026		M		5,256	A	$0.00(1)	5,256	I	See Footnote(2)
Class A Common Stock								534,167	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	06/12/2026		A		8,888		(3)	(4)	Class A Common Stock	8,888	$0.00	8,888	I	See Footnotes(3)

Explanation of Responses:

1. The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.

2. The Reporting Person has agreed to assign to Deer Management Co. LLC ("DMC") the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof. The RSUs vested in full on June 12, 2026.

3. The RSUs shall vest in full on the earlier of 1) June 12, 2027 and 2) the next annual meeting of the Issuer's stockholders following the grant date. The Reporting Person has agreed to assign to "DMC" the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof.

4. Not Applicable.

	/s/ Augie Wilkinson, Attorney-in-Fact	06/16/2026
	** Signature of Reporting Person	Date
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)