Were Elena Gomez’s Toast (TOST) share sales discretionary trades?

No. The filing footnote states the 11,605 shares were sold to cover tax withholding obligations tied to RSU vesting. This means the sale was a mechanical step to pay taxes, not a discretionary decision to reduce her economic exposure to Toast shares.

Toast (NYSE: TOST) CFO Elena Gomez reports RSU vesting and required tax-related share sale

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Toast, Inc. President and CFO Elena Gomez reported routine equity compensation activity and related tax sales. On July 1, 2026, several blocks of Restricted Stock Units (RSUs) vested and converted into Class A Common Stock on a one-for-one basis, including 6,329, 4,716, 6,316 and 6,330 RSUs. A footnote explains that on July 2, 2026 she sold 11,605 shares at $28.849 per share solely to cover tax withholding obligations, rather than as a discretionary open-market trade. Following these transactions, she directly holds 185,150 Class A shares and 18,992 RSUs, with the RSUs scheduled to vest in sixteen equal quarterly installments starting April 1 of 2023, 2024, 2025 and 2026.

Insider Trade Summary

Net Seller: 11,605 shares ($334,793)

Net Sell 9 txns

Insider Gomez Elena

Role President, CFO

Sold 11,605 shs ($335K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	11,605	$28.849	$335K
Exercise	Restricted Stock Units	6,330	$0.00	--
Exercise	Restricted Stock Units	6,316	$0.00	--
Exercise	Restricted Stock Units	4,716	$0.00	--
Exercise	Restricted Stock Units	6,329	$0.00	--
Exercise	Class A Common Stock	6,330	$0.00	--
Exercise	Class A Common Stock	6,316	$0.00	--
Exercise	Class A Common Stock	4,716	$0.00	--
Exercise	Class A Common Stock	6,329	$0.00	--

Holdings After Transaction: Class A Common Stock — 185,150 shares (Direct, null); Restricted Stock Units — 18,992 shares (Direct, null)

Footnotes (1)

The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement. Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person. 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 RSUs shall vest in sixteen equal quarterly installments following April 1, 2026.

Key Figures

Tax withholding sale: 11,605 shares at $28.849 Post-transaction holdings: 185,150 shares Remaining RSUs: 18,992 RSUs +2 more

5 metrics

Tax withholding sale 11,605 shares at $28.849 Shares sold on July 2, 2026 to cover tax withholding

Post-transaction holdings 185,150 shares Class A Common Stock directly held after transactions

Remaining RSUs 18,992 RSUs Restricted Stock Units remaining after July 1, 2026 conversions

RSU conversion blocks 6,329; 4,716; 6,316; 6,330 units RSU tranches converting into Class A Common Stock on July 1, 2026

Net share change -11,605 shares Net buy/sell direction from reported transactions

Key Terms

Restricted Stock Units, tax withholding obligations, vest in sixteen equal quarterly installments, derivative exercise/conversion

4 terms

Restricted Stock Units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax withholding obligations financial

"Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs"

vest in sixteen equal quarterly installments financial

"The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023."

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion" for RSU-related entries"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/06/2026 - 04:41 PM Accepted by SEC EDGAR 07/06/2026 - 04:41 PM

FAQ

What insider transactions did Toast (TOST) President and CFO Elena Gomez report?

Elena Gomez reported RSU vesting that converted into Class A Common Stock and a related share sale. Several RSU grants vested on July 1, 2026, and she sold 11,605 shares on July 2, 2026 to satisfy tax withholding obligations.

How many Toast (TOST) shares did Elena Gomez sell, and at what price?

She sold 11,605 shares of Toast Class A Common Stock at $28.849 per share. A footnote clarifies the sale was required to cover tax withholding on RSU vesting, rather than a discretionary open-market sale decision by Gomez.

How many Toast (TOST) shares does Elena Gomez hold after these transactions?

After the reported transactions, Elena Gomez directly holds 185,150 shares of Toast Class A Common Stock. She also retains 18,992 Restricted Stock Units, which represent additional potential shares that will be delivered as they continue to vest over time.

How do Toast (TOST) RSUs held by Elena Gomez convert into shares?

The filing notes that Restricted Stock Units convert into Toast Class A Common Stock on a one-for-one basis upon vesting and settlement. Vested RSUs deliver an equal number of shares, which can then be held or used in transactions such as tax withholding sales.

What is the vesting schedule for Elena Gomez’s Toast (TOST) RSUs?

Footnotes explain that multiple RSU awards each vest in sixteen equal quarterly installments. These schedules begin after April 1, 2023, April 1, 2024, April 1, 2025, and April 1, 2026, creating a multi-year, gradually vesting equity compensation structure for Gomez.

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^*

Gomez Elena

(Last)

(First)

(Middle)

TOAST, INC.

333 SUMMER STREET

(Street)

BOSTON

MASSACHUSETTS

02210

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)
	President, CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	07/01/2026		M		6,330	A	⁽¹⁾	179,394	D
Class A Common Stock	07/01/2026		M		6,316	A	⁽¹⁾	185,710	D
Class A Common Stock	07/01/2026		M		4,716	A	⁽¹⁾	190,426	D
Class A Common Stock	07/01/2026		M		6,329	A	⁽¹⁾	196,755	D
Class A Common Stock	07/02/2026		S⁽²⁾		11,605	D	$28.849	185,150	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	07/01/2026		M			6,330	⁽³⁾	⁽³⁾	Class A Common Stock	6,330	$0	18,992	D
Restricted Stock Units	⁽¹⁾	07/01/2026		M			6,316	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	6,316	$0	44,213	D
Restricted Stock Units	⁽¹⁾	07/01/2026		M			4,716	⁽⁵⁾	⁽⁵⁾	Class A Common Stock	4,716	$0	51,875	D
Restricted Stock Units	⁽¹⁾	07/01/2026		M			6,329	⁽⁶⁾	⁽⁶⁾	Class A Common Stock	6,329	$0	94,946	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. Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person.

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 RSUs shall vest in sixteen equal quarterly installments following April 1, 2026.

Remarks:

	/s/ Xing Yan as Attorney-in-Fact for Elena Gomez	07/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR