Toast insider sells 4,866 shares to cover RSU tax obligations

Toast, Inc. director and President Stephen Fredette reported selling 4,866 shares of Class A common stock on 01/05/2026 at $34.377 per share.

Rhea-AI Filing Summary

Toast, Inc. director and President Stephen Fredette reported selling 4,866 shares of Class A common stock on 01/05/2026 at $34.377 per share. The sale represents shares required to be sold to cover tax withholding obligations tied to the vesting and settlement of restricted stock units, rather than a discretionary trade.

After this transaction, he beneficially owns 910,606 Class A shares directly, plus additional Class A shares held indirectly through family trusts, and also owns an aggregate of 25,722,670 shares of Class B common stock, each convertible into one Class A share.

Insider Trade Summary

Net Seller: 4,866 shares

Net Sell 4 txns

Insider Fredette Stephen

Role President

Sold 4,866 shs ($167K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	4,866	$34.377	$167K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 910,606 shares (Direct); Class A Common Stock — 66,896 shares (Indirect, By the Fredette Family Nominee Trust); Class A Common Stock — 1,718,029 shares (Indirect, By the SHFA 2021 Nominee Trust); Class A Common Stock — 224,853 shares (Indirect, By the SHFA Family Trust)

Footnotes (1)

1. F1. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Toast (TOST) report for Stephen Fredette?

Toast, Inc. reported that director and President Stephen Fredette sold 4,866 shares of Class A common stock on 01/05/2026 at $34.377 per share.

Why did the Toast (TOST) insider sell 4,866 shares of Class A stock?

The sale of 4,866 shares was to cover tax withholding obligations related to the vesting and settlement of RSUs and is described as not a discretionary trade by the reporting person.

How many Toast (TOST) Class A shares does Stephen Fredette own after the reported sale?

Following the transaction, Stephen Fredette beneficially owns 910,606 Class A shares directly and additional Class A shares indirectly through family trusts holding 66,896, 1,718,029, and 224,853 shares.

What is the significance of Toast (TOST) Class B shares held by the insider?

As of the reporting date, Stephen Fredette also owns an aggregate of 25,722,670 shares of Toast’s Class B common stock, with each Class B share convertible into one Class A share.

What is Stephen Fredette’s role and relationship to Toast (TOST)?

Stephen Fredette is both a director and an officer of Toast, Inc., serving as President, and filed the report as a single reporting person.

Were any derivative securities reported in this Toast (TOST) insider filing?

The filing’s Table II for derivative securities shows no reported derivative transactions for the period covered.

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

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Accepted by SEC EDGAR 01/06/2026 - 04:46 PM Learn about SEC filing dates

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^*

Fredette Stephen

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/05/2026

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	01/05/2026		S(1)		4,866	D	$34.377	910,606	D
Class A Common Stock								66,896	I	By the Fredette Family Nominee Trust
Class A Common Stock								1,718,029	I	By the SHFA 2021 Nominee Trust
Class A Common Stock								224,853	I	By the SHFA Family Trust

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

Explanation of Responses:

1. 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.

Remarks:

As of the date of this Form 4, the Reporting Person also owns an aggregate of 25,722,670 shares of the Class B common stock of the Issuer. Each share of 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 Stephen Fredette	01/06/2026
	** 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.