Toast (NYSE: TOST) CRO adds 2,935 shares through RSU conversion

Rhea-AI Filing Summary

Toast, Inc.’s Chief Revenue Officer Jonathan Vassil increased his direct holdings through RSU vesting. On February 1, 2026, 2,935 Restricted Stock Units converted into 2,935 shares of Class A Common Stock on a one-for-one basis at an exercise price of $0.00.

Following this RSU conversion, Vassil directly owned 141,347 shares of Toast Class A Common Stock. The underlying RSU award reported here was fully exercised, leaving zero derivative securities from this grant outstanding.

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^*

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)
02/01/2026

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	02/01/2026		M		2,935	A	(1)	141,347	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)	02/01/2026		M			2,935	(2)	(2)	Class A Common Stock	2,935	$0	0	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. The RSUs shall vest in sixteen equal quarterly installments following February 1, 2022.

Remarks:

	/s/ Xing Yan as Attorney-in-Fact for Jonathan Vassil	02/03/2026
	** 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.
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FAQ

What insider transaction did Toast (TOST) report for February 1, 2026?

Toast reported that Chief Revenue Officer Jonathan Vassil converted 2,935 Restricted Stock Units into 2,935 shares of Class A Common Stock on February 1, 2026, under transaction code “M,” which indicates an RSU or option exercise rather than an open-market trade.

How many Toast (TOST) shares does Jonathan Vassil own after this Form 4?

After the reported transaction, Jonathan Vassil directly owns 141,347 shares of Toast Class A Common Stock. This figure reflects his beneficial ownership following the conversion of 2,935 Restricted Stock Units into an equivalent number of Class A shares at no cash exercise price.

What do the Restricted Stock Units in Toast’s Form 4 represent?

The Restricted Stock Units represent rights to receive shares of Toast Class A Common Stock upon vesting and settlement. In this case, each RSU converted into one share, and the award was scheduled to vest in sixteen equal quarterly installments following February 1, 2022, according to the disclosed vesting schedule.

Was there any sale of Toast (TOST) stock in this insider filing?

The filing does not report any sale transaction. It shows a code “M” transaction where 2,935 Restricted Stock Units were converted into 2,935 shares of Class A Common Stock at an exercise price of $0.00, increasing Jonathan Vassil’s directly held share count.

What does transaction code “M” mean in this Toast Form 4?

Transaction code “M” indicates an exercise or conversion of a derivative security, such as options or Restricted Stock Units, into underlying shares. Here, it reflects the conversion of 2,935 RSUs into 2,935 Toast Class A Common shares, rather than a market purchase or sale.