PATRICK DEVAL L 4

What Happened

• P. Deval Patrick (Director) had equity awards related to Toast, Inc. vest and convert on June 12, 2026. The Form 4 shows: an award/acquisition of 8,888 RSU/derivative shares (A) at $0.00, and a conversion/exercise (M) involving 5,256 derivative shares recorded both as acquired and disposed at $0.00. Total reported dollar value for these transactions is $0.
• These entries reflect award vesting and derivative conversion/settlement events rather than open-market purchases or sales. No cash payment or sale proceeds are reported.

Key Details

• Transaction date: June 12, 2026; Form 4 filed: June 16, 2026 (timely filing).
• Reported items:
  • Grant/Award (A): 8,888 RSU/derivative shares @ $0.00 (acquired).
  • Exercise/Conversion (M): 5,256 derivative shares @ $0.00 (acquired) and a matching 5,256 share disposition @ $0.00.
• Shares owned after the reported transactions: not specified in the information provided.
• Footnotes of note:
  • F1: RSUs convert one-for-one into Class A common stock upon vesting and deferred settlement.
  • F2: The RSUs vested in full on June 12, 2026.
  • F4: Some units are Deferred Stock Units (DSUs) that are payable only after the director’s termination of board service.
  • F5: (Grant condition) RSUs were originally scheduled to vest by June 12, 2027 or the next annual meeting, but F2 indicates they vested earlier.

Context

• These transactions are award-vesting and derivative-conversion events (transaction codes A and M). Such filings typically reflect compensation vesting, conversion to shares, or transfers into deferred plans rather than active buying or selling in the market.
• The dual acquisition and disposition entry for 5,256 derivative shares at $0.00 often indicates internal settling/conversion mechanics (e.g., conversion plus transfer or deferral), not an open-market sale; the filing’s footnotes confirm deferred settlement mechanics (DSUs).