Toast (NYSE: TOST) president receives new stock options and RSU grants

Rhea-AI Filing Summary

Toast, Inc. President Stephen Fredette received new equity compensation awards. He was granted an option to buy 116,266 shares of Class A Common Stock at $28.90 per share, vesting in sixteen equal quarterly installments following April 1, 2026. He also received 70,452 Restricted Stock Units, which convert into Class A Common Stock on a one-for-one basis and vest in sixteen equal quarterly installments following the same date. Following these awards, he holds 913,067 Class A shares directly, along with additional indirect holdings through the Fredette Family Nominee Trust, the SHFA 2021 Nominee Trust, and the SHFA Family Trust.

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^*

Fredette Stephen

(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)
	President

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
Class A Common Stock								913,067	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
Stock Option (Right to Buy)	$28.9	03/10/2026		A		116,266		(1)	03/10/2036	Class A Common Stock	116,266	$0	116,266	D
Restricted Stock Units	(2)	03/10/2026		A		70,452		(3)	(3)	Class A Common Stock	70,452	$0	70,452	D

Explanation of Responses:

1. The shares underlying this option shall vest and become exercisable in sixteen equal quarterly installments following April 1, 2026.

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 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	03/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** 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 equity awards did Toast (TOST) President Stephen Fredette receive?

Stephen Fredette received two main equity awards: a stock option for 116,266 shares at an exercise price of $28.90, and 70,452 Restricted Stock Units. Both awards are compensation grants rather than open-market purchases or sales.

How do Stephen Fredette’s new Toast (TOST) stock options vest?

The option to buy 116,266 Toast shares vests in sixteen equal quarterly installments following April 1, 2026. This structure spreads vesting over four years, encouraging long-term alignment with the company’s performance and stock price over that period.

What are the terms of Stephen Fredette’s Toast (TOST) RSU grant?

Fredette’s 70,452 Restricted Stock Units convert into Class A Common Stock on a one-for-one basis upon vesting and settlement. The RSUs vest in sixteen equal quarterly installments following April 1, 2026, mirroring the vesting schedule of his stock option grant.

Are Stephen Fredette’s recent Toast (TOST) transactions open-market buys or sells?

No, the reported transactions are equity compensation awards, not open-market trades. The filing shows grants of stock options and RSUs with no buy or sell codes, meaning there were no discretionary market purchases or sales on the transaction date.

What direct Toast (TOST) share holdings does Stephen Fredette report after these awards?

After the reported awards, Fredette’s direct Class A Common Stock holding is 913,067 shares. The filing also lists additional indirect holdings held through the Fredette Family Nominee Trust, the SHFA 2021 Nominee Trust, and the SHFA Family Trust.

How long do Stephen Fredette’s new Toast (TOST) stock options remain exercisable?

The stock option grant carries an expiration date of March 10, 2036. This gives Fredette a ten-year window from the grant date to exercise vested option shares, subject to the company’s equity plan and any applicable service conditions.