Director sells 1,667 Toast, Inc. (TOST) shares in open-market trade

Rhea-AI Filing Summary

Toast, Inc. director Patrick Deval L reported an open-market sale of Class A Common Stock. On January 9, 2025, he sold 1,667 shares at a price of $36.945 per share. After this transaction, he directly held 45,815 shares of Toast Class A Common Stock.

Insider Trade Summary

Net Seller: 1,667 shares ($61,587)

Net Sell 1 txn

Insider PATRICK DEVAL L

Role null

Sold 1,667 shs ($62K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,667	$36.945	$62K

Holdings After Transaction: Class A Common Stock — 45,815 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 1,667 shares Sale price per share: $36.945 per share Shares held after transaction: 45,815 shares

3 metrics

Shares sold 1,667 shares Open-market sale of Class A Common Stock on January 9, 2025

Sale price per share $36.945 per share Price for the 1,667 Toast Class A shares sold

Shares held after transaction 45,815 shares Direct holdings of Toast Class A Common Stock after the sale

Key Terms

open-market sale, Class A Common Stock, Form 4, beneficially owned

4 terms

open-market sale financial

"transaction_action is described as an open-market sale of shares"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

"security_title is listed as Class A Common Stock for the trade"

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.

Form 4 regulatory

"INSIDER FILING DATA (Form 4) summarizes the reported transaction"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

beneficially owned financial

"total_shares_following_transaction represents shares beneficially owned after sale"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

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^*

PATRICK DEVAL L

(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)
01/09/2025

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
Class A Common Stock	01/09/2025		S		1,667	D	$36.945	45,815(1)	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:

1. Does not reflect previously reported transactions that occurred after January 9, 2025.

Remarks:

	/s/ Monica Kleinman as Attorney-in-Fact for Deval L. Patrick	04/23/2026
	** 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)

FAQ

What insider transaction did Toast (TOST) report for Patrick Deval L?

Toast, Inc. reported that director Patrick Deval L sold 1,667 shares of Class A Common Stock. The sale occurred on January 9, 2025, and was reported as an open-market transaction on a Form 4 insider trading report filed with regulators.

At what price did Patrick Deval L sell Toast (TOST) shares?

Patrick Deval L sold Toast Class A Common Stock at $36.945 per share. This price reflects the per-share value for the 1,667 shares involved in the January 9, 2025 open-market sale reported in the Form 4 filing.

How many Toast (TOST) shares does Patrick Deval L hold after the sale?

Following the January 9, 2025 sale, Patrick Deval L directly held 45,815 shares of Toast Class A Common Stock. This post-transaction ownership figure is disclosed in the Form 4 as the total shares beneficially owned after the reported sale.

Was the Toast (TOST) insider transaction a purchase or a sale?

The reported Toast, Inc. insider transaction was a sale. Form 4 data show a transaction code "S" and describe it as an open-market sale of 1,667 shares of Class A Common Stock by director Patrick Deval L on January 9, 2025.

Does the Toast (TOST) Form 4 mention any later transactions for Patrick Deval L?

A footnote states the figures do not reflect previously reported transactions occurring after January 9, 2025. This means the Form 4 focuses on the January 9 sale, while any later insider trades would be detailed in separate, subsequent filings.