Narang Aman 4

What Happened Aman Narang (listed on the filing as Narang Aman), CEO and Director of Toast, received equity awards on 2026-03-10 comprising 261,600 derivative shares subject to option-like vesting and 52,839 Restricted Stock Units (RSUs). Both grants show an acquisition price of $0.00 (standard for compensation awards) — total awarded units = 314,439. The awards vest in 16 equal quarterly installments beginning April 1, 2026.

Key Details

• Transaction date: 2026-03-10; Filing date: 2026-03-12 (filed within the typical 2-business-day Form 4 window).
• Awards: 261,600 derivative/option-style units (footnote F1) and 52,839 RSUs (footnotes F2, F3).
• Price: $0.00 per share (compensation grant, not a market purchase).
• Vesting: Both awards vest in 16 equal quarterly installments following April 1, 2026 (i.e., quarterly over four years).
• Post-transaction holdings: Reporting person also beneficially owns 18,912,840 Class B shares; each Class B is convertible 1-for-1 into Class A common stock.
• Footnotes: F1 = the option-style units vest and become exercisable in 16 quarterly installments; F2 = RSUs convert one-for-one into Class A shares upon vesting; F3 = RSUs vest in 16 quarterly installments.
• No indication this was a sale, purchase on the open market, or a cashless exercise.

Context This filing documents a compensation grant (award) rather than a market purchase or sale. For retail investors, awards like these are routine executive compensation and vest over time; they do not represent an immediate purchase signal. The RSUs will convert to Class A shares as they vest, and the option-style units will become exercisable per the stated vesting schedule.