Vassil Jonathan 4

What Happened

• Vassil Jonathan, Chief Revenue Officer of Toast, exercised stock options and sold the resulting shares in open‑market transactions. He exercised 9,170 options on 2026-07-13 (exercise price $2.21) and 2,000 options on 2026-07-14 (exercise price $2.21), paying $20,266 and $4,420 respectively. He then sold those shares the same days: 9,170 shares on 2026-07-13 for a weighted average price of $30.19 (proceeds $276,870) and 2,000 shares on 2026-07-14 for a weighted average price of $30.02 (proceeds $60,036). Total gross sale proceeds were about $336,906; total cash paid to exercise options was $24,686.

Key Details

• Transaction dates and prices:
  • 2026-07-13: Exercised 9,170 options at $2.21; sold 9,170 shares at weighted avg $30.19 (sales ranged $30.00–$30.52).
  • 2026-07-14: Exercised 2,000 options at $2.21; sold 2,000 shares at weighted avg $30.02 (sales ranged $30.00–$30.07).
• Derivative entries at $0.00 reflect the disposition/conversion of the options when exercised (reported separately on the Form 4).
• Footnotes: sales were effected pursuant to a Rule 10b5‑1 trading plan adopted March 13, 2026 (F1). Sales prices are weighted averages with reported price ranges (F2, F3). Options were fully vested as of the exercise date (F4).
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Filing: Form 4 filed 2026-07-15 (reporting period begins 2026-07-13) — appears to be a timely officer filing.

Context

• This is an exercise + immediate sale (common “exercise and sell” or cashless-like pattern) — the options were exercised and the shares were sold the same or next day, so these transactions largely realize option gains rather than represent a fresh purchase signal. The presence of a 10b5‑1 plan indicates the sales were pre‑arranged trading instructions, which is routine for insiders managing option exercises and diversification.