Technology Investment Dining Group Amends 13G; TOST shows 4.34% stake

Rhea-AI Filing Summary

Technology Investment Dining Group, LLC filed Amendment No. 4 to a Schedule 13G/A reporting beneficial ownership of 22,376,653 shares of Toast, Inc. Class A Common Stock, representing 4.34% of the class as reported in the issuer's Form 10-Q for the quarter ended March 31, 2026. The filing states this amendment reflects that the reporting person has ceased to be the beneficial owner of more than 5% of the Class A Common Stock. The response notes that 9,343,646 shares are pledged to secure obligations under prepaid variable forward sales contracts, including delivery obligations on maturity dates.

Insights

Equity Ownership Analyst

Amendment shows holder fell below 5% due to current position and pledged shares.

The filing reports 22,376,653 shares beneficially owned, equal to 4.34% of Class A common stock as of the issuer's Form 10-Q for the quarter ended March 31, 2026. It explicitly states this Amendment No. 4 reflects cessation of ownership above 5%.

Included are 9,343,646 pledged shares tied to prepaid variable forward contracts that may require delivery on maturity; cash‑flow treatment and timing are not described in the excerpt. Subsequent disclosures or counterparty settlements will determine whether pledged shares remain outstanding or are delivered.

Securities Compliance Specialist

Filing is a routine ownership amendment under Schedule 13G/A with a compliance focus.

The amendment clarifies beneficial ownership percentages and records pledge arrangements. It attributes ownership to Technology Investment Dining Group, LLC with Steve Papa as managing member.

Certifications and signature blocks are present; investors should refer to later SEC filings for any changes in pledged‑share settlements or additional disposition notices.

Key Figures

Beneficial ownership: 22,376,653 shares Percent of class: 4.34% Pledged shares: 9,343,646 shares +2 more

5 metrics

Beneficial ownership 22,376,653 shares Class A Common Stock

Percent of class 4.34% as reported in Form 10-Q for quarter ended March 31, 2026

Pledged shares 9,343,646 shares pledged under prepaid variable forward sales contracts

CUSIP 888787108 Toast, Inc. Class A Common Stock

Amendment number Amendment No. 4 Schedule 13G/A filing

Key Terms

prepaid variable forward sales contracts, beneficially owns, Schedule 13G/A

3 terms

prepaid variable forward sales contracts financial

"Included in the above is an aggregate of 9,343,646 shares...prepaid variable forward sales contracts"

beneficially owns regulatory

"The Reporting Person beneficially owns 22,376,653 shares of Class A Common Stock"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

Schedule 13G/A regulatory

"This Amendment No. 4 to constitutes the final amendment to the "

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Toast, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.000001 per share

(Title of Class of Securities)

888787108

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 888787108

1

Names of Reporting Persons

Technology Investment Dining Group, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power 22,376,653.00
7	Sole Dispositive Power
8	Shared Dispositive Power 22,376,653.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

22,376,653.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.34 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: This Amendment No. 4 to Schedule 13G constitutes the final amendment to the Schedule 13G and reflects that the Reporting Person has ceased to be the beneficial owner of more than 5% of the Class A Common Stock of Toast, Inc. Row 1. Steve Papa owns 100% of Technology Investment Dining Group, LLC, the registered holder of the shares of the Issuer. Row 6, Row 8, and Row 9. The Reporting Person beneficially owns 22,376,653 shares of Class A Common Stock, which is 4.34% of the shares of Class A Common Stock reported as outstanding in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 filed with the Securities and Exchange Commission on May 8, 2026. Included in the above is an aggregate of 9,343,646 shares of Class A Common Stock pledged by the Reporting Person to secure obligations under prepaid variable forward sales contracts with unaffiliated third parties, including its obligation to deliver to such third parties up to an aggregate of 9,343,646 shares of Class A Common Stock on the maturity dates of the respective contracts.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Toast, Inc.
(b)	Address of issuer's principal executive offices: 333 Summer Street, Boston, Massachusetts 02210
Item 2.
(a)	Name of person filing: Technology Investment Dining Group, LLC and Steve Papa. Mr. Papa owns 100% of Technology Investment Dining Group, LLC.
(b)	Address or principal business office or, if none, residence: 36 College Hill, Hanover, NH 03755
(c)	Citizenship: Technology Investment Dining Group, LLC - Delaware, Steve Papa - United States
(d)	Title of class of securities: Class A Common Stock, par value $0.000001 per share
(e)	CUSIP No.: 888787108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover pages.
(b)	Percent of class: See the response(s) to Item 11 on the attached cover pages.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover pages.
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover pages.
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover pages.
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover pages.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Technology Investment Dining Group, LLC

Signature:	/s/ Steve Papa
Name/Title:	Steve Papa, Managing Member
Date:	05/15/2026

Signature:	/s/ Steve Papa
Name/Title:	Steve Papa
Date:	05/15/2026

FAQ

What percentage of Toast (TOST) does Technology Investment Dining Group report owning?

The filing reports 4.34% ownership of Toast Class A Common Stock, based on the issuer's Form 10-Q for the quarter ended March 31, 2026. This Amendment No. 4 states the reporting person has ceased to be a beneficial owner above 5%.

How many Toast shares does Technology Investment Dining Group beneficially own?

The Schedule 13G/A lists 22,376,653 shares of Class A Common Stock as beneficially owned. That share count is tied to the outstanding figure reported in Toast's Form 10-Q for the quarter ended March 31, 2026.

Are any of the owned Toast shares pledged or subject to contracts?

9,343,646 shares are disclosed as pledged to secure obligations under prepaid variable forward sales contracts, including potential delivery of those shares on maturity dates to unaffiliated third parties.

Who is the reporting person on this Schedule 13G/A amendment?

The filing names Technology Investment Dining Group, LLC and Steve Papa; Mr. Papa is the managing member and owns 100% of the LLC, which is the registered holder of the reported shares.

Does this amendment indicate any change in control or voting power?

The amendment states the reporting person now holds 4.34% of Class A shares and has shared voting and dispositive power over 22,376,653 shares; it also notes the change reflects falling below the 5% beneficial‑ownership threshold.