BELL PAUL D 4

What Happened
Paul D. Bell, a director of Toast, Inc. (TOST), had derivative securities converted and RSUs settled on June 12, 2026. The Form 4 reports: a conversion/exercise of 5,256 derivative units (code M) and an award/settlement of 8,888 Restricted Stock Units (code A). All transactions are recorded at $0.00 per share (no cash purchase). Footnotes state the RSUs convert one-for-one into Class A common stock and that the RSUs vested in full on June 12, 2026.

Key Details

• Transaction date: June 12, 2026. Filing date: June 16, 2026 (filed within the two-business-day window).
• Reported items:
  • 5,256 shares — exercise/conversion of derivative securities (code M) @ $0.00 (acquired)
  • 5,256 shares — disposition of derivative securities (code M) @ $0.00 (derivative disposition recorded)
  • 8,888 shares — grant/award/settlement of RSUs (code A) @ $0.00 (acquired)
• Total newly reported shares from these entries (gross): 14,144 shares arising from conversion/settlement events.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Relevant footnotes:
  • F1: RSUs convert one-for-one into Class A common stock upon vesting.
  • F2: The RSUs vested in full on June 12, 2026.
  • F4: Another set of RSUs will vest in full on the earlier of June 12, 2027 or the next annual meeting.
• Filing timeliness: Filed on June 16, 2026 for a June 12 transaction — appears timely under Form 4 rules.

Context
These entries reflect vesting/settlement and conversion events (derivative-to-stock conversion and RSU settlement), not an open-market buy or typical cash sale. Code M indicates an exercise/conversion of derivative securities; code A indicates an award/settlement (RSUs). Because the reported price is $0.00, these were non-cash equity settlements tied to prior awards, rather than new purchases — generally a routine occurrence tied to compensation and vesting schedules.