Toast (TOST) CEO Aman Narang Sells 161,948 Shares

What Happened
Aman Narang, CEO and director of Toast, sold a total of 161,948 shares of Toast common stock in two transactions: 42,105 shares on 2026-08-07 at a weighted average price of $35.13 (≈ $1.48M) and 119,843 shares on 2026-08-10 at a weighted average price of $35.38 (≈ $4.24M). Both transactions are reported as sales (S).

Key Details

• Transaction dates and weighted-average prices:
  • 2026-08-07: 42,105 shares at $35.13 (total ≈ $1,479,149). Price range reported $35.00–$35.32 (footnote F2).
  • 2026-08-10: 119,843 shares at $35.38 (total ≈ $4,239,925). Price range reported $35.00–$35.61 (footnote F3).
• Combined proceeds: about $5,719,074 (~$5.72M).
• Ownership after reporting: Narang also owns 18,612,840 shares of Class B common stock (each convertible into one Class A share).
• Notable footnotes:
  • At least one of the sales was effected pursuant to a Rule 10b5-1 trading plan adopted by the Starlight 2026 Charitable Remainder Trust on March 13, 2026 (F1).
  • Weighted-average prices reflect multiple trades; the filer can provide breakdowns by price on request (F2, F3).
• Filing timeliness: Form 4 filed 2026-08-11 for transactions on 8/7 and 8/10 — the filing appears timely under normal two-business-day reporting rules.

Context
These were outright sales (not option exercises or awards). Sales executed under a 10b5-1 plan are prearranged and routine in many cases; such sales do not, by themselves, indicate the insider’s current view of the company’s prospects.