Vassil Jonathan 4

What Happened

• Jonathan Vassil, Chief Revenue Officer of Toast (TOST), had RSUs convert into 14,264 shares on July 1, 2026 (recorded as derivative exercises/conversions). Following vesting, he sold 6,647 shares in an open-market sale on July 2, 2026 at $28.85 per share for proceeds of $191,759. The filing shows related derivative dispositions recorded at $0, consistent with shares surrendered/withheld for tax purposes.

Key Details

• Transaction dates and prices:
  • July 1, 2026: RSU conversions (4,748; 4,986; 3,430; 1,100 = total 14,264 shares).
  • July 2, 2026: Open-market sale of 6,647 shares at $28.85, proceeds $191,759.
• Net effect: +14,264 shares acquired from vesting, 6,647 sold — net increase of ~7,617 shares retained (subject to withholding).
• Footnotes of note:
  • F1: RSUs convert one-for-one into Class A common stock on vesting.
  • F3: The 6,647-share sale “represents shares required to be sold ... to cover tax withholding” and “does not represent a discretionary trade.”
  • F2: Prior transfer of 84,269 shares to a grantor retained annuity trust (change in form of beneficial ownership).
  • F4–F7: Vesting schedules — RSU grants vest in 16 equal quarterly installments beginning April 1 of 2023, 2024, 2025 and 2026 (for the respective grants).
• Shares owned after the transaction: not explicitly stated in the Form 4; based on this filing the reporting person retained approximately 7,617 shares net of the sale and reported withholdings.
• Filing date/timeliness: Form 4 was filed July 6, 2026 and covers transactions on July 1–2, 2026 (investors may note Form 4s are typically due within two business days of the transaction).

Context

• These transactions are largely internal (RSU vesting) and tax-related rather than discretionary purchases or sales. The open-market sale is identified in the filing as a sale required to satisfy tax withholding on vesting; such sales are common and not usually interpreted as a buying/selling signal about the company’s near-term prospects.