Toast, Inc. — Director's Dealing 2025

May 13, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Toast, Inc. (TOST)
CIK: 0001650164
Period of Report: 2025-05-09

Reporting Person: Fredette Stephen (Director, President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-09	Class A Common Stock	S	75352	$40.659	Disposed	1337756	Direct
2025-05-09	Class A Common Stock	S	124734	$41.159	Disposed	1213022	Direct
2025-05-09	Class A Common Stock	S	54425	$42.154	Disposed	1158597	Direct
2025-05-09	Class A Common Stock	S	83438	$40.652	Disposed	2038013	Indirect
2025-05-09	Class A Common Stock	S	141867	$41.154	Disposed	1896146	Indirect
2025-05-09	Class A Common Stock	S	59757	$42.151	Disposed	1836389	Indirect
2025-05-09	Class A Common Stock	S	35270	$40.715	Disposed	324057	Indirect
2025-05-09	Class A Common Stock	S	33538	$41.247	Disposed	290519	Indirect
2025-05-09	Class A Common Stock	S	32931	$42.131	Disposed	257588	Indirect
2025-05-12	Class A Common Stock	S	104087	$42.518	Disposed	1054510	Direct
2025-05-12	Class A Common Stock	G	107738	—	Disposed	946772	Direct
2025-05-12	Class A Common Stock	S	118360	$42.523	Disposed	1718029	Indirect
2025-05-12	Class A Common Stock	S	32735	$42.514	Disposed	224853	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	66896	Indirect

Footnotes

F1: This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 4, 2024.

F2: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.85 to $40.84, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F3: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.85 to $41.84, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F4: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $41.85 to $42.60, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F5: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $41.85 to $42.59, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F6: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.90 to $40.89, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F7: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.90 to $41.89, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F8: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $41.92 to $42.58, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F9: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.00 to $42.92, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

F10: On May 12, 2025, the Reporting Person made a bona fide gift of 107,738 shares of the Issuer's Class A Common Stock with no payment in consideration.

F11: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.00 to $42.89, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.