=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-04-01
10b5-1 Pre-arranged Plan: No
--- Issuer ---
Name: Toast, Inc. (TOST)
CIK: 0001650164
--- Reporting Owner ---
Name: Vassil Jonathan
CIK: 0002004790
Role: Officer (Chief Revenue Officer)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Class A Common Stock
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: +4,748
Shares Owned After: 144,641 | Ownership: D (Direct)
Footnotes:
[F1] The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
[Transaction #2]
Security: Class A Common Stock
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: +4,986
Shares Owned After: 149,627 | Ownership: D (Direct)
Footnotes:
[F1] The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
[Transaction #3]
Security: Class A Common Stock
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: +3,429
Shares Owned After: 153,056 | Ownership: D (Direct)
Footnotes:
[F1] The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
[Transaction #4]
Security: Class A Common Stock
Date: 2026-04-02 | Code: S (Open market sale)
Shares: -6,438 | Price: $26.19
Total Value: $168,591.91
Shares Owned After: 146,618 | Ownership: D (Direct)
Footnotes:
[F2] Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person.
--- Derivative Transactions ---
[Transaction #1]
Security: Restricted Stock Units
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: -4,748 | Price: $0.00
Shares Owned After: 18,992 | Ownership: D (Direct)
Footnotes:
[F1] The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
[F3] The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.
[F3] The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.
[Transaction #2]
Security: Restricted Stock Units
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: -4,986 | Price: $0.00
Shares Owned After: 39,892 | Ownership: D (Direct)
Footnotes:
[F1] The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
[F4] The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.
[F4] The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.
[Transaction #3]
Security: Restricted Stock Units
Date: 2026-04-01 | Code: M (Exercise of derivative)
Shares: -3,429 | Price: $0.00
Shares Owned After: 41,157 | Ownership: D (Direct)
Footnotes:
[F1] The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
[F5] The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.
[F5] The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.
--- Footnotes (Complete Index) ---
F1: The Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
F2: Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person.
F3: The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.
F4: The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.
F5: The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.
--- Signature ---
/s/ /s/ Xing Yan as Attorney-in-Fact for Jonathan Vassil (2026-04-03)
