Toast, Inc. — Director's Dealing 2025

Mar 11, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Toast, Inc. (TOST)
CIK: 0001650164
Period of Report: 2025-03-07

Reporting Person: Fredette Stephen (Director, President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-07	Class A Common Stock	S	13062	$32.576	Disposed	1631594	Direct
2025-03-07	Class A Common Stock	S	31273	$33.779	Disposed	1600321	Direct
2025-03-07	Class A Common Stock	S	26005	$34.627	Disposed	1574316	Direct
2025-03-07	Class A Common Stock	G	35170	—	Disposed	1539146	Direct
2025-03-07	Class A Common Stock	S	14845	$32.602	Disposed	2288597	Indirect
2025-03-07	Class A Common Stock	S	35255	$33.778	Disposed	2253342	Indirect
2025-03-07	Class A Common Stock	S	29033	$34.627	Disposed	2224309	Indirect
2025-03-07	Class A Common Stock	S	5056	$32.612	Disposed	414935	Indirect
2025-03-07	Class A Common Stock	S	12166	$33.797	Disposed	402769	Indirect
2025-03-07	Class A Common Stock	S	9156	$34.641	Disposed	393613	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-03-10	Stock Option (Right to Buy)	$33.49	A	113511	Acquired	2035-03-10	Class A Common Stock (113511)	Direct
2025-03-10	Restricted Stock Units	$	A	61735	Acquired		Class A Common Stock (61735)	Direct

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 $32.20 to $33.19, 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 $33.20 to $34.19, 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 $34.20 to $34.93, 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: On March 7, 2025, the Reporting Person made a bona fide gift of 35,170 shares of the Issuer's Class A Common Stock with no payment in consideration.

F6: The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.20 to $34.91, 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 $32.22 to $33.20, 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 $33.23 to $34.22, 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 $34.23 to $34.93, 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: The shares underlying this option shall vest and become exercisable in sixteen equal quarterly installments following April 1, 2025.

F11: Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.

F12: The RSUs shall vest in sixteen equal quarterly installments following April 1, 2025.