Toast (TOST) GC acquires 2,152 shares via RSU vesting

Toast, Inc. (TOST) Form 4: General Counsel Brian R. Elworthy reported the vesting and settlement of 2,152 Restricted Stock Units (RSUs) into 2,152 shares of Class A Common Stock on 11/01/2025 (Code M).

Rhea-AI Filing Summary

Toast, Inc. (TOST) Form 4: General Counsel Brian R. Elworthy reported the vesting and settlement of 2,152 Restricted Stock Units (RSUs) into 2,152 shares of Class A Common Stock on 11/01/2025 (Code M). Following the transaction, he beneficially owns 230,076 shares directly and 39,368 shares indirectly through the Brian R. Elworthy Irrevocable Trust of 2019.

The RSUs convert one-for-one into common stock upon vesting. The award vests in sixteen equal quarterly installments following February 1, 2022.

Insider Trade Summary

2,152 shares exercised/converted

Exercise 3 txns

Insider Elworthy Brian R

Role General Counsel

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	2,152	$0.00	$0.00
Exercise	Class A Common Stock	2,152	$0.00	$0.00
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 2,152 contracts (Direct); Class A Common Stock — 230,076 shares (Direct); Class A Common Stock — 39,368 shares (Indirect, By the Brian R. Elworthy Irrevocable Trust of 2019)

Footnotes (2)

1. F1. Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
2. F2. The RSUs shall vest in sixteen equal quarterly installments following February 1, 2022.

FAQ

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

The General Counsel reported the vesting and settlement of 2,152 RSUs into 2,152 Class A shares on 11/01/2025 (Code M).

How many Toast shares does the reporting person own after the transaction?

He beneficially owns 230,076 shares directly and 39,368 shares indirectly via a 2019 irrevocable trust.

What is the nature of the derivative security involved?

Restricted Stock Units that convert into Class A Common Stock on a one-for-one basis upon vesting.

How do the RSUs vest for Toast’s General Counsel?

They vest in sixteen equal quarterly installments following February 1, 2022.

What transaction code is shown and what does it indicate?

Code M, which indicates a conversion or settlement of a derivative security (RSUs) into common stock.

Is there an indirect ownership component reported?

Yes. 39,368 shares are held indirectly by the Brian R. Elworthy Irrevocable Trust of 2019.

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

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Accepted by SEC EDGAR 11/04/2025 - 06:07 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^*

Elworthy Brian R

(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)
	General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
11/01/2025

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	11/01/2025		M		2,152	A	(1)	230,076	D
Class A Common Stock								39,368	I	By the Brian R. Elworthy Irrevocable Trust of 2019

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)	11/01/2025		M			2,152	(2)	(2)	Class A Common Stock	2,152	$0	2,152	D

Explanation of Responses:

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

2. The RSUs shall vest in sixteen equal quarterly installments following February 1, 2022.

Remarks:

	/s/ Xing Yan as Attorney-in-Fact for Brian R. Elworthy	11/04/2025
	** 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.