Toast, Inc. (TOST) executive reports RSU conversion into Class A stock

Rhea-AI Filing Summary

Toast, Inc. reported an insider equity transaction involving its President and Chief Financial Officer, Elena Gomez. On 01/01/2026, previously granted restricted stock units (RSUs) were converted into shares of Class A common stock through multiple transactions coded "M," which indicates settlement of derivative awards.

The filing shows RSUs converting into 6,330, 6,316, and 4,716 shares of Class A common stock at an exercise price of $0, increasing her directly held share balances after each transaction. According to the footnotes, these RSUs convert into Class A common stock on a one-for-one basis and vest in sixteen equal quarterly installments following April 1, 2023, April 1, 2024, and April 1, 2025, respectively, illustrating a multi‑year, time-based equity compensation structure.

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

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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^*

Gomez Elena

(Last) (First) (Middle)

TOAST, INC.

333 SUMMER STREET

(Street)

BOSTON MA 02210

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Toast, Inc. [ TOST ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/01/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Class A Common Stock	01/01/2026		M		6,330	A	(1)	157,793	D
Class A Common Stock	01/01/2026		M		6,316	A	(1)	164,109	D
Class A Common Stock	01/01/2026		M		4,716	A	(1)	168,825	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)	01/01/2026		M			6,330	(2)	(2)	Class A Common Stock	6,330	$0	31,653	D
Restricted Stock Units	(1)	01/01/2026		M			6,316	(3)	(3)	Class A Common Stock	6,316	$0	56,846	D
Restricted Stock Units	(1)	01/01/2026		M			4,716	(4)	(4)	Class A Common Stock	4,716	$0	61,307	D

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 RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.

3. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.

4. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.

Remarks:

	/s/ Monica Kleinman as Attorney-in-Fact for Elena Gomez	01/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Toast (TOST) report in this Form 4?

The filing reports that President and CFO Elena Gomez had restricted stock units convert into shares of Class A common stock on 01/01/2026 through transactions coded "M," which indicate settlement of derivative awards.

How many Toast Class A shares were issued from RSUs on 01/01/2026?

On 01/01/2026, RSUs converted into 6,330, 6,316, and 4,716 shares of Class A common stock, as shown in the non-derivative securities table.

What is Elena Gomezb4s role and relationship to Toast (TOST)?

The filing lists the reporting person as an Officer of Toast, with the title President, CFO, and identifies the issuer as Toast, Inc.

How do Toastb4s restricted stock units (RSUs) convert into shares?

The footnotes state that the RSUs convert into Class A common stock on a one-for-one basis upon vesting and settlement, meaning each RSU becomes one share.

What are the vesting schedules for the Toast RSU grants in this filing?

The RSUs in this report vest in sixteen equal quarterly installments following April 1, 2023, April 1, 2024, and April 1, 2025, as described in the explanatory footnotes.

What was the exercise price for the Toast RSUs that settled on 01/01/2026?

For each RSU transaction reported in the derivative securities table, the exercise price is listed as $0, consistent with typical settlement of time-based RSUs.