Toast (TOST) CRO Vassil Jonathan Sells Shares After Exercising Options

What Happened
Vassil Jonathan, Chief Revenue Officer of Toast, exercised stock options to acquire a total of 13,931 shares (7,399 at $17.38 and 6,532 at $17.33) on August 19, 2026, paying roughly $241,795 in strike price. The same day he sold 13,931 shares in open-market transactions at a weighted average price of $36.01 for total proceeds of $501,697. Net proceeds before taxes and fees were about $259,902. The exercises and sale were effected under a Rule 10b5-1 trading plan.

Key Details

• Transaction date: August 19, 2026 (Form 4 filed Aug 21, 2026 — filed within the two-business-day window)
• Option exercises: 7,399 shares @ $17.38 ($128,595) and 6,532 shares @ $17.33 ($113,200) — total cost $241,795
• Open-market sale: 13,931 shares @ weighted avg $36.01 = $501,697 (shares sold in multiple trades at $36.00–$36.09; reporting person can provide per-trade breakdown per footnote)
• Derivative reporting: two corresponding derivative disposals reported at $0.00 reflect the conversion/settlement of the exercised options into shares
• Vesting notes: one option block is noted as fully vested and exercisable; the other has a 16-quarter vesting schedule following April 1, 2023 (per footnotes)
• Shares owned after transaction: not specified in the provided filing
• Plan disclosure: transactions were effected pursuant to a 10b5-1 trading plan adopted March 13, 2026

Context
This was an exercise of options followed by an immediate (same-day) sale of the acquired shares — a common way insiders realize gains and manage tax/cash needs. The use of a 10b5-1 plan indicates the sale was pre-planned; the filing does not, by itself, indicate the insider’s view on the company’s prospects.