Toast, Inc.: chief revenue officer Vassil Jonathan sold 13,465 shares

What happened

• Vassil Jonathan, chief revenue officer, exercised or converted a total of 20,923 derivative shares on Oct 1 and Oct 2, 2026, and sold shares in open-market transactions on Oct 2, 2026.
• The filing shows market sales of 6,808 shares at $29.35 for $199,842 and 6,657 shares at a weighted average price (reported as $30.03) for $199,923, for total proceeds of $399,765. The filing also reports an option exercise of 6,657 shares at $2.21 for $14,712 and multiple derivative disposals at $0.00 associated with the Oct 1 and Oct 2 conversions.

Key details

• Transaction dates and prices: Oct 1, 2026 (RSU conversions and derivative disposals at $0.00); Oct 2, 2026 (open-market sales: 6,808 shares at $29.35; 6,657 shares at a weighted average around $30.03; option exercise 6,657 shares at $2.21).
• Shares exercised/converted: 4,748; 4,987; 3,430; 1,101 (Oct 1) and 6,657 (Oct 2) — total 20,923 shares.
• Shares sold in the market: 13,465 shares (6,808 + 6,657) for total proceeds of $399,765.
• Derivative disposals reported at $0.00: 4,748; 4,987; 3,430; 1,101; 6,657 — total 20,923 shares (per footnote, these represent shares required to be sold to cover tax withholding).
• Shares owned after the transactions: not specified in the filing.
• Relevant footnotes: F1 (RSUs convert one-for-one on vesting), F2 (shares sold to cover tax withholding), F3 (one transaction effected under a Rule 10b5-1 plan adopted Mar 13, 2026), F4 (weighted average price; sales occurred at prices ranging from $30.00 to $30.10), F5–F8 (vesting schedules for RSUs), F9 (option shares fully vested).
• Filing timeliness: the filing date is Oct 5, 2026; the filing does not indicate it was late.

Why it may matter

• The filing shows exercises/conversions of RSUs/options and same-day open-market sales for a portion of the exercised shares (the 6,657-share exercise on Oct 2 was followed by a same-day market sale), and other shares were reported as disposed at $0.00 to cover withholding obligations.
• One sale was effected pursuant to a Rule 10b5-1 trading plan and the filing discloses weighted-average pricing for multiple transactions.
• The filing does not show why the insider traded or why the company acted.