Toast president Stephen Fredette converts 462,500 shares
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Form Type
4
Rhea-AI Filing Summary
Toast, Inc. President and director Stephen Fredette reported that the Fredette Family Nominee Trust voluntarily converted 462,500 Class B shares into 462,500 Class A shares on November 10, 2026, on a one-for-one basis. The trust held 529,396 Class A shares after the conversion, and the converted Class B position had a reported balance of zero. Separately, Fredette reported aggregate holdings of 25,260,170 Class B shares as of November 10, 2026; each Class B share is convertible at any time into one Class A share.
Insider Trade Summary
462,500 shares exercised/converted
Exercise
2 txns
Insider
Fredette Stephen
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock F2, F1 | 462,500 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F1, F2 | 462,500 | $0.00 | $0.00 |
| Holding | Class B Common Stock F2 | -- | -- | -- |
| Holding | Class B Common Stock F2 | -- | -- | -- |
| Holding | Class B Common Stock F2 | -- | -- | -- |
| Holding | Class A Common Stock | -- | -- | -- |
| Holding | Class A Common Stock | -- | -- | -- |
| Holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 0 shares (Indirect, By the Fredette Family Nominee Trust);
Class A Common Stock — 529,396 shares (Indirect, By the Fredette Family Nominee Trust);
Class B Common Stock — 4,506,606 shares (Indirect, By the SHFA 2021 Nominee Trust);
Class B Common Stock — 1,580,009 shares (Indirect, By the SHFA Family Trust);
Class B Common Stock — 19,173,555 shares (Direct);
Class A Common Stock — 941,692 shares (Direct);
Class A Common Stock — 1,718,029 shares (Indirect, By the SHFA 2021 Nominee Trust);
Class A Common Stock — 224,853 shares (Indirect, By the SHFA Family Trust)
Holdings Before and After:
Class B Common Stock, 462,500 to 0 shares (Indirect, By the Fredette Family Nominee Trust);
Class A Common Stock, 66,896 to 529,396 shares (Indirect, By the Fredette Family Nominee Trust)
Footnotes (2)
- F1. Reflects the voluntary conversion of Class B Common Stock on a one-for-one basis.
- F2. Each outstanding share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the holder or automatically upon the occurrence of other events set forth in the Issuer's certificate of incorporation.
Key Figures
Class B shares converted: 462,500 shares
Class A shares acquired by conversion: 462,500 shares
Class A shares held after conversion: 529,396 shares
+1 more
4 metrics
Class B shares converted
462,500 shares
By the Fredette Family Nominee Trust on November 10, 2026
Class A shares acquired by conversion
462,500 shares
By the Fredette Family Nominee Trust on November 10, 2026
Class A shares held after conversion
529,396 shares
Held by the Fredette Family Nominee Trust after the November 10, 2026 conversion
Aggregate Class B shares
25,260,170 shares
Reported aggregate holdings as of November 10, 2026; each share is convertible into one Class A share
Key Terms
voluntary conversion, Class B Common Stock, Class A Common Stock, one-for-one basis
4 terms
voluntary conversion technical
"Reflects the voluntary conversion of Class B Common Stock on a one-for-one basis."
Class B Common Stock technical
"Each outstanding share of Class B Common Stock is convertible into one share of Class A Common Stock"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock technical
"Each outstanding share of Class B Common Stock is convertible into one share of Class A Common Stock"
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.
one-for-one basis technical
"voluntary conversion of Class B Common Stock on a one-for-one basis"
FAQ
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