[Form 4] Toast, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Toast, Inc. reported that Principal Accounting Officer Rossana Niola received new equity awards on March 10, 2026. She was granted stock options covering 87,391 shares of Class A common stock at an exercise price of $28.90 per share, plus 52,839 restricted stock units.

The option award vests 12.5% on August 1, 2026, with the remaining shares vesting in fourteen equal quarterly installments. The RSUs also vest 12.5% on August 1, 2026, with the balance vesting in equal quarterly installments over the following three and a half years. These are compensation-related grants, not open-market purchases.

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
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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^*

Niola Rossana

(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)
	Principal Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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

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
Stock Option (Right to Buy)	$28.9	03/10/2026		A		87,391		(1)	03/10/2036	Class A Common Stock	87,391	$0	87,391	D
Restricted Stock Units	(2)	03/10/2026		A		52,839		(3)	(3)	Class A Common Stock	52,839	$0	52,839	D

Explanation of Responses:

1. 12.5% of the shares subject to this option shall vest and become exercisable on August 1, 2026, with the remainder vesting in fourteen equal quarterly installments thereafter.

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

3. The RSUs shall vest as follows: 12.5% shall vest on August 1, 2026, with the remainder vesting in equal quarterly installments over the following three and half years.

Remarks:

	/s/ Xing Yan, as Attorney-in-Fact for Rossana Niola	03/12/2026
	** 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).
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FAQ

What insider transaction did Toast (TOST) report for Rossana Niola?

Toast reported equity grants to Principal Accounting Officer Rossana Niola. On March 10, 2026, she received 87,391 stock options at a $28.90 exercise price and 52,839 restricted stock units, all as compensation awards rather than open-market share purchases or sales.

How many stock options were granted to Toast executive Rossana Niola?

Rossana Niola received 87,391 stock options from Toast. These options relate to Class A common stock and carry an exercise price of $28.90 per share. The options vest gradually, beginning August 1, 2026, with an initial 12.5% vesting and remaining portions in fourteen equal quarterly installments.

What RSU award did Toast (TOST) grant to its Principal Accounting Officer?

Toast granted 52,839 restricted stock units (RSUs) to Rossana Niola. Each RSU converts into one share of Class A common stock upon vesting. 12.5% of the RSUs vest on August 1, 2026, with the remaining units vesting in equal quarterly installments over the following three and a half years.

Are the recent Toast (TOST) insider transactions open-market buys or compensation grants?

The reported Toast insider transactions are compensation-related grants. Rossana Niola’s Form 4 shows option and RSU awards coded as acquisitions under transaction code “A,” indicating grants or awards, not open-market purchases or sales of existing Toast Class A common stock.

When do Rossana Niola’s new Toast equity awards begin vesting?

Niola’s Toast equity awards start vesting on August 1, 2026. Both the stock options and RSUs vest 12.5% on that date. The remaining portions vest over time through regular quarterly installments, with options in fourteen quarters and RSUs across the following three and a half years.