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Toast (NYSE: TOST) CRO reports RSU conversions, option exercise and share sale

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Toast, Inc. reported insider equity transactions by its Chief Revenue Officer via a Form 4 filing. The executive acquired Class A Common Stock through multiple conversions of Restricted Stock Units on January 1, 2026, then on January 2, 2026 exercised a stock option for 66,390 shares at an exercise price of $2.21 per share and sold the same number of shares at $35.86 per share. The filing notes that the option-related transaction was carried out under a pre-established Rule 10b5-1 trading plan, and that the RSUs convert into Class A Common Stock on a one-for-one basis and vest in equal quarterly installments over several years. Following these transactions, the executive continues to hold a substantial number of derivative and non-derivative Toast shares directly.

Positive

  • None.

Negative

  • None.
Insider Vassil Jonathan
Role Chief Revenue Officer
Sold 66,390 shs ($2.38M)
Type Security Shares Price Value
Exercise Stock Option (Right to Buy) 66,390 $0.00 --
Exercise Class A Common Stock 66,390 $2.21 $147K
Sale Class A Common Stock 66,390 $35.86 $2.38M
Exercise Restricted Stock Units 4,748 $0.00 --
Exercise Restricted Stock Units 4,987 $0.00 --
Exercise Restricted Stock Units 3,430 $0.00 --
Exercise Class A Common Stock 4,748 $0.00 --
Exercise Class A Common Stock 4,987 $0.00 --
Exercise Class A Common Stock 3,430 $0.00 --
Holdings After Transaction: Stock Option (Right to Buy) — 387,361 shares (Direct); Class A Common Stock — 150,979 shares (Direct); Restricted Stock Units — 23,740 shares (Direct)
Footnotes (1)
  1. The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 11, 2025. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025. The shares subject to this option are fully vested and exercisable as of the date hereof.
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).
X
 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*
Vassil Jonathan
(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)
Chief Revenue Officer
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 4,748 A (1) 76,172 D
Class A Common Stock 01/01/2026 M 4,987 A (1) 81,159 D
Class A Common Stock 01/01/2026 M 3,430 A (1) 84,589 D
Class A Common Stock 01/02/2026 M(2) 66,390 A $2.21 150,979 D
Class A Common Stock 01/02/2026 S(2) 66,390 D $35.86 84,589 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 4,748 (3) (3) Class A Common Stock 4,748 $0 23,740 D
Restricted Stock Units (1) 01/01/2026 M 4,987 (4) (4) Class A Common Stock 4,987 $0 44,878 D
Restricted Stock Units (1) 01/01/2026 M 3,430 (5) (5) Class A Common Stock 3,430 $0 44,586 D
Stock Option (Right to Buy) $2.21 01/02/2026 M(2) 66,390 (6) 04/21/2030 Class A Common Stock 66,390 $0 387,361 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. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 11, 2025.
3. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.
4. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.
5. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.
6. The shares subject to this option are fully vested and exercisable as of the date hereof.
Remarks:
/s/ Monica Kleinman as Attorney-in-Fact for Jonathan Vassil 01/05/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Toast (TOST) disclose in this Form 4?

The filing shows the Chief Revenue Officer acquired Class A Common Stock from RSU conversions on January 1, 2026 and on January 2, 2026 exercised a stock option for 66,390 shares at $2.21 and sold 66,390 shares at $35.86 per share.

Was the Toast (TOST) insider trade made under a Rule 10b5-1 plan?

Yes. The filing states the January 2, 2026 transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 11, 2025.

What role does the reporting person hold at Toast (TOST)?

The reporting person is identified as an Officer of Toast, Inc., serving as the company’s Chief Revenue Officer.

How do the Toast (TOST) RSUs in this filing vest and convert?

The filing explains that the Restricted Stock Units (RSUs) convert into Class A Common Stock on a one-for-one basis upon vesting, and specified RSU grants vest in sixteen equal quarterly installments following April 1, 2023, April 1, 2024, and April 1, 2025, respectively.

What is the status of the Toast (TOST) stock option reported?

The shares subject to the reported stock option are described as fully vested and exercisable as of the date of the filing, with an exercise price of $2.21 per share and an expiration date of April 21, 2030.

Did the Toast (TOST) executive retain shares after the reported transactions?

Yes. After the reported acquisitions and dispositions, the filing shows the executive still beneficially owns both Class A Common Stock and derivative securities such as RSUs and stock options directly.