PATRICK DEVAL L 4

What Happened
Patrick Deval, a director of Toast, Inc. (TOST), sold 1,667 shares in an open-market sale on January 9, 2025 at $36.95 per share, generating gross proceeds of approximately $61,587. This transaction is a sale (code S) and sales by directors are often routine liquidity events rather than clear signals about company prospects.

Key Details

• Transaction date and price: 2025-01-09 at $36.95 per share.
• Shares sold: 1,667; gross proceeds ≈ $61,587.
• Transaction type: Open-market/private sale (reported as S — sale).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnote: F1 — filing "does not reflect previously reported transactions that occurred after January 9, 2025."
• Filing timeliness: Form 4 was filed on 2026-04-23, more than a year after the trade — this is a late filing, which reduces the timeliness of public disclosure (insiders are generally required to file within two business days).

Context
Sales by directors can be for many personal reasons (diversification, taxes, personal expenses) and don’t necessarily indicate management’s view of the company. Purchases generally attract more attention as potential bullish signals; this record is a routine sale reported late. If you track insider activity, note the late filing and the footnote indicating there may be other transactions reported separately.