Fredette Stephen 4

What Happened

• Stephen Fredette, President and Director of Toast, sold 1,060 shares of Toast common stock on 2026-02-03 at $30.34 per share, totaling $32,166. The Form 4 lists the transaction as an open-market or private sale (code S). Per the filing footnote, these shares were sold to satisfy tax withholding on vested RSUs and were not a discretionary sale by the reporting person.

Key Details

• Transaction date and price: 2026-02-03 at $30.34 per share; proceeds $32,166.
• Transaction type: Sale to cover tax withholding related to RSU vesting (footnote F1 — non-discretionary).
• Shares owned (per filing): 25,722,670 shares of Class B common stock (convertible 1:1 into Class A).
• Filing timeliness: Reported on Form 4 filed 2026-02-04 (no late filing indicated).

Context

• Tax-withholding sales for RSUs are routine administrative transactions and don’t necessarily indicate the insider’s view of the company. The sold amount is very small relative to Fredette’s reported 25.7M Class B shares. Class B shares are convertible into Class A on a one-for-one basis.