Toast President Fredette sells 9,368 shares for taxes

The tax-withholding sale was required in connection with RSU vesting and settlement and was described as non-discretionary.

Rhea-AI Filing Summary

Toast, Inc. President and director Stephen Fredette had 19,611 restricted stock units settle into Class A common shares on October 1, 2026, on a one-for-one basis. On October 2, 9,368 Class A shares were sold at $29.3540 per share to cover tax withholding obligations; the sale was required and was not discretionary. No Rule 10b5-1 plan is reported.

The October 1 holdings entries list indirect Class A holdings of 66,896 shares in the Fredette Family Nominee Trust, 1,718,029 in the SHFA 2021 Nominee Trust and 224,853 in the SHFA Family Trust. Fredette also reported owning 25,722,670 Class B shares as of the Form 4 date; each Class B share is convertible into one Class A share.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 12 txns

Insider Fredette Stephen

Role President

Sold 9,368 shs ($275K)

Approx. gross sale proceeds $275K

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F2	9,368	$29.354	$275K
Exercise	Restricted Stock Units F1, F3	5,698	$0.00	$0.00
Exercise	Restricted Stock Units F1, F4	5,652	$0.00	$0.00
Exercise	Restricted Stock Units F1, F5	3,858	$0.00	$0.00
Exercise	Restricted Stock Units F1, F6	4,403	$0.00	$0.00
Exercise	Class A Common Stock F1	5,698	--	--
Exercise	Class A Common Stock F1	5,652	--	--
Exercise	Class A Common Stock F1	3,858	--	--
Exercise	Class A Common Stock F1	4,403	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 145,534 contracts (Direct); Class A Common Stock — 941,692 shares (Direct); Class A Common Stock — 66,896 shares (Indirect, By the Fredette Family Nominee Trust); 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)

Footnotes (6)

1. F1. The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
2. F2. 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. F3. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.
4. F4. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.
5. F5. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.
6. F6. The RSUs shall vest in sixteen equal quarterly installments following April 1, 2026.

Key Figures

Class A shares sold: 9,368 shares Sale price: $29.3540 per share RSUs settled into Class A shares: 19,611 shares +4 more

7 metrics

Class A shares sold 9,368 shares October 2, 2026; to cover tax withholding obligations

Sale price $29.3540 per share Class A shares sold October 2, 2026

RSUs settled into Class A shares 19,611 shares October 1, 2026; one-for-one conversion upon vesting and settlement

Class A shares held by Fredette Family Nominee Trust 66,896 shares Indirect holdings listed October 1, 2026

Class A shares held by SHFA 2021 Nominee Trust 1,718,029 shares Indirect holdings listed October 1, 2026

Class A shares held by SHFA Family Trust 224,853 shares Indirect holdings listed October 1, 2026

Class B shares reported owned 25,722,670 shares As of the Form 4 date; each share is convertible into one Class A share

Key Terms

Restricted Stock Units (RSUs), tax withholding obligations, one-for-one basis

3 terms

Restricted Stock Units (RSUs) financial

"Restricted Stock Units ("RSUs") convert into Class A Common Stock"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

tax withholding obligations financial

"shares required to be sold ... to cover tax withholding obligations"

one-for-one basis financial

"convert into Class A Common Stock on a one-for-one basis"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did TOST President Stephen Fredette sell, and at what price?

Stephen Fredette sold 9,368 Class A shares on October 2, 2026, at $29.3540 per share to cover tax withholding obligations connected with RSU vesting and settlement. The sale was required and was not discretionary, and no Rule 10b5-1 plan is reported.

How many RSUs did Stephen Fredette settle into TOST shares?

Four reported RSU settlements converted 19,611 restricted stock units into Class A common shares on October 1, 2026. The RSUs convert into Class A common stock on a one-for-one basis upon vesting and settlement.

How many Class B shares did Stephen Fredette report owning?

Stephen Fredette reported owning 25,722,670 shares of Toast Class B common stock as of the date of the Form 4. Each Class B share is convertible at any time into one share of Class A common stock.

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

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Available on EDGAR 10/05/2026 - 04:34 PM Accepted by SEC EDGAR 10/05/2026 - 04:34 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^*

Fredette Stephen

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/01/2026		M		5,698	A	(1)	937,147	D
Class A Common Stock	10/01/2026		M		5,652	A	(1)	942,799	D
Class A Common Stock	10/01/2026		M		3,858	A	(1)	946,657	D
Class A Common Stock	10/01/2026		M		4,403	A	(1)	951,060	D
Class A Common Stock	10/02/2026		S(2)		9,368	D	$29.354	941,692	D
Class A Common Stock								66,896	I	By the Fredette Family Nominee Trust
Class A Common Stock								1,718,029	I	By the SHFA 2021 Nominee Trust
Class A Common Stock								224,853	I	By the SHFA Family Trust

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)	10/01/2026		M			5,698	(3)	(3)	Class A Common Stock	5,698	$0	11,395	D
Restricted Stock Units	(1)	10/01/2026		M			5,652	(4)	(4)	Class A Common Stock	5,652	$0	33,908	D
Restricted Stock Units	(1)	10/01/2026		M			3,858	(5)	(5)	Class A Common Stock	3,858	$0	38,585	D
Restricted Stock Units	(1)	10/01/2026		M			4,403	(6)	(6)	Class A Common Stock	4,403	$0	61,646	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:

As of the date of this Form 4, the Reporting Person also owns an aggregate of 25,722,670 shares of the Class B common stock of the Issuer. Each share of Class B common stock is convertible at any time into one share of the Class A common stock of the Issuer.

	/s/ Xing Yan as Attorney-in-Fact for Stephen Fredette	10/05/2026
	** 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)