Toast Chief Revenue Officer Executes Planned Option Exercise and Share Sale

Executive Summary

On November 4, 2026, Toast, Inc. ($TOST) filed a Form 4 disclosing transactions by Chief Revenue Officer Jonathan Vassil on November 2, 2026. The executive exercised stock options for 14,280 shares at an exercise price of $2.21 per share and subsequently sold the same 14,280 shares across three tranches at weighted average prices ranging from $32.79 to $34.38, generating total gross sale proceeds of approximately $481,223.

Transaction Details

• Option Exercise (Code M): 14,280 shares of Class A Common Stock were acquired via option exercise at $2.21 per share ($31,558.80 total exercise cost).
• Open Market Sales (Code S):
  • 1,268 shares sold at a weighted average price of $32.788 ($41,575.18)
  • 11,061 shares sold at a weighted average price of $33.684 ($372,578.72)
  • 1,951 shares sold at a weighted average price of $34.377 ($67,069.53)
  • Aggregate Sales: 14,280 shares at an effective weighted average price of ~$33.70, yielding $481,223.44 in total proceeds.

Ownership and Context

• 10b5-1 Trading Plan: All transactions were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on March 13, 2026.
• Post-Transaction Holdings:
  • Direct ownership: 77,424 shares of Class A Common Stock.
  • Indirect ownership: 84,269 shares held through The Jonathan S. Vassil Grantor Retained Annuity Trust #1.
  • Derivative holdings: 257,311 stock options remain exercisable.
• Significance Assessment: The market impact is considered Low. The disposition represents a routine exercise-and-sell transaction under an established Rule 10b5-1 plan, leaving the insider's net direct equity holding unchanged relative to prior base holdings.