[SCHEDULE 13G/A] Toast, Inc. SEC Filing

Rhea-AI Filing Summary

Toast, Inc. (TOST) received an amended Schedule 13G (Amendment No. 3) from Technology Investment Dining Group, LLC, reporting beneficial ownership of 32,728,056 shares of Class A common stock, equal to 6.35% of Class A shares outstanding as reported in the company’s Form 10-Q for the quarter ended September 30, 2025.

The filing lists shared voting power and shared dispositive power over 32,728,056 shares. The report notes that 11,843,646 shares are pledged to secure obligations under prepaid variable forward sales contracts with unaffiliated third parties, including an obligation to deliver up to that number of shares at the contracts’ maturities. On an as-converted basis (assuming all Class B convert to Class A), the reported holdings would represent 5.57% of the company’s common stock. Steve Papa owns 100% of Technology Investment Dining Group, LLC.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Toast, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.000001 per share

(Title of Class of Securities)

888787108

(CUSIP Number)

09/30/2025

(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)

SCHEDULE 13G

CUSIP No. 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 32,728,056.00
7	Sole Dispositive Power
8	Shared Dispositive Power 32,728,056.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

32,728,056.00

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)

6.35 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: 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 32,728,056 shares of Class A Common Stock, which is 6.35% 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 September 30, 2025 filed with the Securities and Exchange Commission on November 5, 2025. Included in the above is an aggregate of 11,843,646 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 11,843,646 shares of Class A Common Stock on the maturity dates of the respective contracts. Row 11. Assuming the conversion of all of the Issuer's outstanding shares of Class B Common Stock into Class A Common Stock, based on the number of outstanding shares of Class A Common Stock and Class B Common Stock as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the Securities and Exchange Commission on November 5, 2025 (together, the "Issuer's Common Stock"), the shares of Class A Common Stock reported as being beneficially owned by the Reporting Person would represent 5.57% of the Issuer's Common Stock.

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 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:	11/14/2025

Signature:	/s/ Steve Papa
Name/Title:	Steve Papa
Date:	11/14/2025

FAQ

What ownership did Technology Investment Dining Group report in TOST?

They reported beneficial ownership of 32,728,056 Class A shares, representing 6.35% of Class A outstanding.

Who controls Technology Investment Dining Group, LLC?

Steve Papa owns 100% of Technology Investment Dining Group, LLC.

What portion of the reported shares is pledged?

An aggregate of 11,843,646 shares is pledged under prepaid variable forward sales contracts with unaffiliated third parties.

What are the voting and dispositive powers over the shares?

The filer reports shared voting power and shared dispositive power over 32,728,056 shares.

What is the ownership percentage on an as-converted basis?

Assuming all Class B convert to Class A, the holdings would represent 5.57% of the company’s common stock.

What date triggered this amended 13G filing?

The date of event requiring the filing is September 30, 2025.