Vassil Jonathan 4

What Happened

• Vassil Jonathan, Chief Revenue Officer of Toast (TOST), had RSUs vest and converted into Class A common stock on April 1, 2026, and completed an open‑market sale of 6,438 shares on April 2, 2026 at $26.19 per share, netting $168,592. The filing also reports conversion/exercise of three RSU tranches (4,748; 4,986; and 3,429 shares — total 13,163 shares) on April 1, 2026.
• Several of the converted shares were surrendered/treated as disposed at $0.00 in connection with the RSU settlement to satisfy tax withholding obligations rather than a discretionary sale.

Key Details

• Transaction dates and prices:
  • 2026-04-01: RSU conversions (exercised/converted) of 4,748; 4,986; and 3,429 shares (one‑for‑one conversion on vesting) — recorded as acquired and also recorded as disposed at $0.00 for tax withholding.
  • 2026-04-02: Open-market sale of 6,438 shares at $26.19 per share — total proceeds $168,592.
• Shares owned after transaction: Not disclosed in the provided filing.
• Notable footnotes:
  • F1: RSUs convert one-for-one into Class A common stock on vesting.
  • F2: The shares sold/surrendered represent shares required to be sold to cover tax withholding and do not reflect a discretionary trade.
  • F3–F5: The RSU grants vest in 16 equal quarterly installments following April 1 of 2023, 2024, and 2025 (different tranches).
• Filing timeliness: Form filed 2026-04-03 for transactions on 2026-04-01 and 2026-04-02 (filed two days after the initial vesting date).

Context

• These were RSU vesting and settlement transactions, not option purchases. Some vested shares were surrendered or sold specifically to cover tax withholding (non‑discretionary), and a portion was sold on the open market. Such sell-to-cover activity is routine following equity award vesting and does not necessarily indicate a change in the insider’s view on the company.