Toast CRO trades 11,170 shares after option exercise

Rhea-AI Filing Summary

Toast, Inc. Chief Revenue Officer Jonathan Vassil exercised stock options for a total of 11,170 Class A shares at $2.2100 per share on July 13 and 14, 2026, and sold an equal 11,170 shares in open-market transactions at weighted-average prices of $30.1930 and $30.0180. A footnote states these transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on March 13, 2026. Following the reported transactions, he holds 69,966 Class A shares directly, 84,269 shares indirectly through The Jonathan S. Vassil Grantor Retained Annuity Trust #1, and 314,431 remaining stock options expiring on April 21, 2030.

Insider Trade Summary 10b5-1

Exercise and Sale: 11,170 shares ($312K approx. pre-tax spread)

Exercise and Sale 7 txns

Insider Vassil Jonathan

Role Chief Revenue Officer

Sold 11,170 shs ($337K)

Approx. gross sale proceeds $337K

Approx. exercise cost $25K

Approx. pre-tax spread $312K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) F1, F4	2,000	$0.00	$0.00
Exercise	Class A Common Stock F1	2,000	$2.21	$4K
Sale	Class A Common Stock F1, F3	2,000	$30.018	$60K
Exercise	Stock Option (Right to Buy) F1, F4	9,170	$0.00	$0.00
Exercise	Class A Common Stock F1	9,170	$2.21	$20K
Sale	Class A Common Stock F1, F2	9,170	$30.193	$277K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 314,431 contracts (Direct); Class A Common Stock — 69,966 shares (Direct); Class A Common Stock — 84,269 shares (Indirect, The Jonathan S. Vassil Grantor Retained Annuity Trust #1)

Footnotes (4)

1. F1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 13, 2026.
2. F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.52 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
3. F3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.07 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
4. F4. The shares subject to this option are fully vested and exercisable as of the date hereof.

Key Figures

Shares sold July 13, 2026: 9170 shares Shares sold July 14, 2026: 2000 shares Options exercised July 13, 2026: 9170 shares +4 more

7 metrics

Shares sold July 13, 2026 9170 shares Class A Common Stock sold at weighted-average price of $30.1930 per share (code S)

Shares sold July 14, 2026 2000 shares Class A Common Stock sold at weighted-average price of $30.0180 per share (code S)

Options exercised July 13, 2026 9170 shares Stock options exercised into Class A Common Stock at $2.2100 per share (code M)

Options exercised July 14, 2026 2000 shares Stock options exercised into Class A Common Stock at $2.2100 per share (code M)

Direct Class A holdings after transactions 69966 shares Class A Common Stock held directly following July 2026 transactions

Indirect trust holdings 84269 shares Class A Common Stock held indirectly via The Jonathan S. Vassil Grantor Retained Annuity Trust #1 as of July 13, 2026

Remaining stock options 314431 options Stock Option (Right to Buy) remaining after exercises, expiring April 21, 2030

Key Terms

Rule 10b5-1 trading plan, weighted average price, Grantor Retained Annuity Trust, Stock Option (Right to Buy)

4 terms

Rule 10b5-1 trading plan regulatory

"This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Grantor Retained Annuity Trust financial

"The Jonathan S. Vassil Grantor Retained Annuity Trust #1"

A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy) with exercise price of $2.2100"

FAQ

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

What insider transactions did Toast (TOST) report for Jonathan Vassil?

Jonathan Vassil reported exercising options for 11,170 Class A shares and selling the same number in open-market trades. The paired option exercises (code M) and sales (code S) occurred on July 13 and 14, 2026.

How many Toast (TOST) shares did Vassil sell and at what prices?

Vassil sold 9,170 shares at a $30.1930 weighted-average price on July 13, 2026, and 2,000 shares at $30.0180 on July 14, 2026. Footnotes note weighted-average pricing over ranges between $30.00 and $30.52 and between $30.00 and $30.07.

What stock options did Vassil exercise in this Toast (TOST) filing?

He exercised stock options covering 9,170 shares on July 13, 2026 and 2,000 shares on July 14, 2026. These options had a $2.2100 exercise price, were fully vested and exercisable, and relate to options expiring on April 21, 2030.

How many Toast (TOST) shares and options does Vassil hold after the transactions?

After the reported transactions, Vassil holds 69,966 Class A shares directly and 84,269 shares indirectly through The Jonathan S. Vassil Grantor Retained Annuity Trust #1. He also retains 314,431 stock options (Stock Option (Right to Buy)) expiring in 2030.

Were Vassil’s Toast (TOST) stock sales made under a Rule 10b5-1 trading plan?

Yes. A footnote states the transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by Vassil on March 13, 2026. Such plans pre-schedule trades, which can reduce the informational value of the timing of these sales.

What indirect Toast (TOST) holdings does Vassil report in this Form 4?

Vassil reports 84,269 Toast Class A shares held indirectly as of July 13, 2026. These are owned through The Jonathan S. Vassil Grantor Retained Annuity Trust #1, indicating an estate-planning vehicle holding Toast stock on his behalf.

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

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Accepted by SEC EDGAR 07/15/2026 - 04:42 PM EDT 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).

X

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 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)
	Chief Revenue Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/13/2026

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	07/13/2026		M(1)		9,170	A	$2.21	79,136	D
Class A Common Stock	07/13/2026		S(1)		9,170	D	$30.193(2)	69,966	D
Class A Common Stock	07/14/2026		M(1)		2,000	A	$2.21	71,966	D
Class A Common Stock	07/14/2026		S(1)		2,000	D	$30.018(3)	69,966	D
Class A Common Stock								84,269	I	The Jonathan S. Vassil Grantor Retained Annuity Trust #1

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)	$2.21	07/13/2026		M(1)			9,170	(4)	04/21/2030	Class A Common Stock	9,170	$0	316,431	D
Stock Option (Right to Buy)	$2.21	07/14/2026		M(1)			2,000	(4)	04/21/2030	Class A Common Stock	2,000	$0	314,431	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 13, 2026.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.52 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.07 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

4. The shares subject to this option are fully vested and exercisable as of the date hereof.

Remarks:

	/s/ Xing Yan as Attorney-in-Fact for Jonathan Vassil	07/15/2026
	** 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)