Bennett Richard Kent 4

What Happened Richard Kent, a director of Toast, Inc. (TOST), reported derivative transactions on June 12, 2026. The filing shows he (1) converted/exercised 5,256 derivative units (code M) at $0.00 (a simultaneous acquisition and disposition reported at $0) and (2) was granted/received 8,888 restricted stock units (RSUs) (code A) at $0.00. The RSUs vested in full on June 12, 2026, and the reporting person has assigned the right to any shares or proceeds from these RSUs to Deer Management Co. LLC (DMC). No cash consideration is shown in these entries.

Key Details

• Transaction date: June 12, 2026; Form 4 filed: June 16, 2026 (appears filed after the 2-business-day window).
• Conversions/exercises: 5,256 shares reported as both acquired and disposed at $0.00 (code M).
• Award/grant: 8,888 RSUs acquired at $0.00 (derivative; code A); RSUs convert 1-for-1 into Class A common stock upon vesting.
• Shares owned after transaction: Not specified in the excerpt of the filing.
• Notable footnotes:
  • F1: RSUs convert into Class A common stock one-for-one upon vesting.
  • F2: The reporting person assigned rights to any shares or proceeds from this grant to Deer Management Co. LLC; these RSUs vested in full on June 12, 2026.
  • F3: (Applies to related RSU terms) RSUs vest in full on the earlier of June 12, 2027 or the next annual meeting; reporting person assigned rights to DMC.
  • F4: Not applicable.

Context

• The $0.00 price indicates these were non‑cash vesting/conversion events (e.g., RSU settlement or conversion of derivative awards), not open‑market purchases or cash sales. The simultaneous acquisition and disposition of 5,256 shares likely reflects conversion/settlement and an immediate transfer/assignment rather than a public sale.
• The assignment to Deer Management Co. LLC means DMC has the right to receive the shares or proceeds; this is not the same as an open-market sale and does not, by itself, signal the insider’s personal buy/sell sentiment.