Form 4: Toast Director Deval Patrick Reports Vesting of Restricted Stock Units and Deferred Stock Units

Toast, Inc. Director Deval L. Patrick reported the vesting of 9,712 Restricted Stock Units and the reporting of 9,712 Deferred Stock Units on June 6, 2025, as part of his compensation.

Summary

• Deval L. Patrick, a Director of Toast, Inc. (TOST), filed a Form 4 with the SEC.
• The filing reports transactions that occurred on June 6, 2025.
• 9,712 Restricted Stock Units (RSUs) vested in full on June 6, 2025, converting into Class A Common Stock on a one-for-one basis.
• 9,712 Deferred Stock Units (DSUs) under the Toast, Inc. Deferred Compensation Program were also reported as a disposition (M transaction code, indicating maturity/vesting/conversion) on June 6, 2025.
• Each DSU is the economic equivalent of one share of the Company's Class A Common Stock and becomes payable upon the Reporting Person's termination of service as a board member.
• Following these reported transactions, the reporting person beneficially owns 0 Restricted Stock Units and 9,712 Deferred Stock Units directly.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing reports routine compensation vesting for a director, which is an expected event and indicates continued alignment of director interests with shareholders through equity.

Positives

• The vesting of RSUs and the reporting of DSUs represent standard compensation for the director's service, aligning their interests with shareholder value.
• The DSUs provide a long-term incentive for the director, as they are tied to the company's Class A Common Stock and become payable upon termination of service.

Stakeholder Impact

• Shareholders: The vesting of equity compensation aligns the director's interests with shareholders, as the value of their compensation is tied to the company's stock performance.

Next Steps

• Deferred Stock Units (DSUs) become payable upon the Reporting Person's termination of service as a board member.

Key Dates

Keywords

Toast Inc, TOST, SEC Form 4, Insider Transaction, Restricted Stock Units, RSUs, Deferred Stock Units, DSUs, Director Compensation, Stock Vesting, Deval Patrick