Toast (NYSE: TOST) director sells 8,500 Class A shares at $28.97

Rhea-AI Filing Summary

Toast, Inc. director Susan Chapman-Hughes completed an open-market sale of 8,500 shares of Class A common stock at $28.97 per share. After this transaction, she directly holds 14,530 Toast Class A shares.

Insights

Equity compensation and insider-trading analyst

Toast director executed a routine open-market sale of 8,500 shares while retaining a meaningful remaining stake.

Director Susan Chapman-Hughes sold 8,500 shares of Toast, Inc. Class A common stock in an open-market transaction at $28.97 per share. The filing shows this as a straightforward sale of non-derivative shares, with no related option exercise or derivative activity reported.

Following the sale, she directly holds 14,530 Class A shares, indicating she maintains ongoing equity exposure to Toast. With no derivatives listed in this filing’s remaining position and no 10b5-1 trading plan disclosures in the footnotes, the event appears as a standard director liquidity transaction rather than a structural change in ownership.

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

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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^*

Chapman-Hughes Susan

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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	03/12/2026		S		8,500	D	$28.97	14,530	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

Explanation of Responses:

Remarks:

	/s/ Monica Kleinman as Attorney-in-Fact for Susan Chapman-Hughes	03/13/2026
	** 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.

FAQ

What did Toast (TOST) director Susan Chapman-Hughes do in this Form 4 filing?

Director Susan Chapman-Hughes sold 8,500 shares of Toast Class A common stock. The transaction was an open-market sale at $28.97 per share, reported as a non-derivative trade, indicating she reduced but did not eliminate her direct equity position in Toast.

How many Toast (TOST) shares did the director sell and at what price?

She sold 8,500 shares of Toast’s Class A common stock at $28.97 per share. This was recorded as an open-market sale, meaning the shares were sold on the market rather than through a private agreement or option exercise, according to the Form 4.

How many Toast (TOST) shares does Susan Chapman-Hughes hold after the sale?

After the reported transaction, she directly holds 14,530 shares of Toast Class A common stock. This figure reflects her position following the sale of 8,500 shares and shows she continues to retain a direct equity stake in the company.

Was the Toast (TOST) director’s transaction a buy or a sell?

The transaction was a sell. The Form 4 lists a transaction code "S" and describes it as an open-market sale, with 8,500 shares of Class A common stock sold at $28.97 per share, reducing but not eliminating her direct holdings.

Does the Toast (TOST) Form 4 show any option exercises or derivative trades?

No, the filing shows no derivative transactions. The trade involves only non-derivative Class A common stock, and the derivative summary is empty, indicating no reported option exercises, conversions, or other derivative-related activity in this Form 4.