Toast (TOST) CEO granted 261,600 options and 52,839 RSUs in new award

Rhea-AI Filing Summary

Toast, Inc. CEO Aman Narang received new equity awards consisting of stock options and restricted stock units tied to Class A common stock. He was granted options to buy 261,600 shares at an exercise price of $28.90 per share, plus 52,839 restricted stock units.

The option grant and RSUs were both reported as direct holdings. The options and RSUs each vest in sixteen equal quarterly installments following April 1, 2026, meaning the awards are designed to vest gradually over four years. Following these awards, Narang directly holds 340,723 shares of Class A common stock.

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^*

Narang Aman

(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)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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								340,723	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
Stock Option (Right to Buy)	$28.9	03/10/2026		A		261,600		(1)	03/10/2036	Class A Common Stock	261,600	$0	261,600	D
Restricted Stock Units	(2)	03/10/2026		A		52,839		(3)	(3)	Class A Common Stock	52,839	$0	52,839	D

Explanation of Responses:

1. The shares underlying this option shall vest and become exercisable in sixteen equal quarterly installments following April 1, 2026.

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

3. he RSUs shall vest in sixteen equal quarterly installments following April 1, 2026.

Remarks:

As of the date of this Form 4, the Reporting Person also owns 18,912,840 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 Narang	03/12/2026
	** 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 equity awards did Toast (TOST) CEO Aman Narang receive in this Form 4?

Aman Narang received stock options for 261,600 shares at a $28.90 exercise price and 52,839 restricted stock units. Both awards are tied to Toast Class A common stock and represent compensation-related grants, not open-market purchases.

How do Aman Narang’s new stock options from Toast (TOST) vest?

The 261,600 stock options vest in sixteen equal quarterly installments following April 1, 2026. This creates a four-year vesting schedule, encouraging longer-term alignment between the CEO’s compensation and Toast’s ongoing business and share performance.

What are the terms of the restricted stock units Toast (TOST) granted to its CEO?

Toast granted Aman Narang 52,839 restricted stock units that convert into Class A common stock on a one-for-one basis. These RSUs vest in sixteen equal quarterly installments following April 1, 2026, mirroring the stock option vesting schedule over four years.

Did Toast (TOST) CEO Aman Narang buy or sell shares on the market in this filing?

The filing shows compensation-related grants, not market trades. It reports awards of options and restricted stock units, both coded as grants or acquisitions, with no open-market purchases or sales indicated by the transaction codes or summary data.

How many Toast (TOST) Class A shares does Aman Narang hold after these grants?

After the reported transactions, Aman Narang directly holds 340,723 shares of Toast Class A common stock. This figure reflects his direct ownership position as reported in the Form 4, separate from the newly granted but unexercised options and unvested RSUs.

What is the expiration date of Toast (TOST) CEO Aman Narang’s new stock options?

The newly granted stock options to buy 261,600 Toast Class A shares expire on March 10, 2036. This long-dated expiration gives a substantial window for potential exercise, subject to the four-year quarterly vesting schedule beginning after April 1, 2026.