Vassil Jonathan 4

What Happened
Vassil Jonathan, Chief Revenue Officer of Toast, exercised options and immediately sold 3,150 shares on July 7, 2026. The exercise recorded an acquisition of 3,150 shares at $2.21 per share (total cost $6,962). The same 3,150 shares were sold in the open market at a weighted average price of $30.03 per share for total gross proceeds of $94,591. The Form 4 also reports a related derivative conversion/disposition of 3,150 shares at $0.00 tied to the exercise.

Key Details

• Transaction date: 2026-07-07. Form filed: 2026-07-09 (timely).
• Exercise: 3,150 shares at $2.21 each (total $6,962).
• Sale: 3,150 shares at weighted avg. $30.03 each (gross proceeds $94,591); sale prices ranged $30.00–$30.25 per footnote.
• Shares owned after transaction: not disclosed in the summary data provided.
• Footnotes: transaction was executed under a Rule 10b5‑1 trading plan adopted March 13, 2026 (F1); sale price shown is a weighted average with range $30.00–$30.25 (F2); option shares were fully vested and exercisable as of the date (F3).

Context
This was an exercise of vested options (transaction code M) with an immediate open‑market sale of the resulting shares — commonly called a cashless exercise/sale. The sale was conducted under a pre-established 10b5‑1 plan, which is typically used to execute trades at predetermined times and is considered routine. Sales do not by themselves indicate insider sentiment about the company’s prospects.