Toast (NYSE: TOST) CEO makes 1,201,500-share estate planning gifts

Rhea-AI Filing Summary

Toast, Inc. CEO Aman Narang reported a mix of share conversions and gifts involving the company’s common stock. On March 11, 2026, he converted 300,000 shares of Class B Common Stock into 300,000 shares of Class A Common Stock on a one-for-one basis, a non-cash derivative conversion that left him holding 18,612,840 Class B shares directly.

On March 13, 2026, Narang made bona fide gift transfers totaling 1,201,500 shares of Class A Common Stock, described as being for estate planning purposes. These gifts came from both direct and indirect holdings, including transfers involving entities such as Starlight 2026 Trust LLC, Starlight 2026 Charitable Remainder Trust, and The Narang Family Trust, and reduced his directly held Class A position to 39,973 shares.

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

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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^*

Narang Aman

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

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
Class A Common Stock	03/11/2026		C(1)(2)		300,000	A	$0(1)(3)	640,723	D
Class A Common Stock	03/13/2026		G(2)		300,000	D	$0	340,723	D
Class A Common Stock	03/13/2026		G(2)		200,000	D	$0	140,723	D
Class A Common Stock	03/13/2026		G(2)		100,750	D	$0	39,973	D
Class A Common Stock	03/13/2026		G(2)	V	300,000	A	$0	300,000	I	Starlight 2026 Charitable Remainder Trust
Class A Common Stock	03/13/2026		G(2)	V	200,000	A	$0	200,000	I	The Narang Family Trust
Class A Common Stock	03/13/2026		G(2)	V	100,750	A	$0	100,750	I	Starlight 2026 Trust LLC

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
Class B Common Stock	(3)	03/11/2026		C(1)(2)			300,000	(3)	(3)	Class A Common Stock	300,000	$0	18,612,840	D

Explanation of Responses:

1. Reflects the conversion of Class B Common Stock on a one-for-one basis.

2. Represents transaction(s) effected for estate planning purposes.

3. 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.

Remarks:

As of the date of this Form 4, the Reporting Person owns 18,612,840 shares of Class B common stock of the Issuer. Each 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 Aman Narang	03/13/2026
	** Signature of Reporting Person	Date
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