Narang Aman 4

What Happened
Aman Narang, CEO and director of Toast, Inc. (TOST), had 3,521 restricted stock units (RSUs) vest and convert into 3,521 shares of Class A common stock on February 1, 2026. The Form 4 shows an acquisition (conversion) of 3,521 shares and a simultaneous disposition of 3,521 shares at $0.00—consistent with a net share settlement or withholding for taxes rather than an open-market sale.

Key Details

• Transaction date: 2026-02-01 (Form 4 filed 2026-02-03; appears timely)
• Transaction type/code: M — exercise/conversion of derivative (RSU vesting and conversion)
• Shares: 3,521 RSUs converted into 3,521 Class A shares; 3,521 shares were disposed at $0.00 (likely withheld)
• Net effect on holdings: No net increase in Class A shares (3,521 vested then 3,521 surrendered); Reporting Person also beneficially owns 18,912,840 Class B shares (convertible 1:1 into Class A) per the filing
• Footnotes: F1 — RSUs convert one-for-one into Class A shares on vesting; F2 — these RSUs vest in 16 equal quarterly installments beginning Feb 1, 2022

Context
This filing reflects routine RSU vesting and a likely tax-withholding share surrender. Such withholding disposals are common and do not necessarily indicate a personal decision to sell shares on market—purchases tend to be more informative about insider sentiment.