Form 4: Toast General Counsel Sells Shares for Tax Obligations

Toast, Inc.'s General Counsel, Brian R. Elworthy, sold 5,681 shares of Class A Common Stock on July 2, 2025, at $42.592 per share to cover tax withholding obligations related to Restricted Stock Unit (RSU) vesting.

Summary

• Brian R. Elworthy, General Counsel of Toast, Inc. (TOST), reported a transaction on July 2, 2025.
• The transaction involved the disposition of 5,681 shares of Class A Common Stock.
• The shares were sold at a price of $42.592 per share.
• The sale was explicitly stated as being required to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and was not a discretionary trade.
• Following the reported transaction, Brian R. Elworthy directly beneficially owns 221,767 shares of Class A Common Stock.
• Additionally, 39,368 shares are indirectly beneficially owned by the Brian R. Elworthy Irrevocable Trust of 2019.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale of shares by an insider to cover tax obligations related to RSU vesting, which is a common occurrence and does not indicate a change in company fundamentals or management's view.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing, as it is a report of a past insider transaction.

Management Comments

• The sale of 5,681 shares represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person.

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction, common across all publicly traded companies. It does not provide specific insights into broader industry trends or competitive dynamics within the restaurant technology or software sectors.

Stakeholder Impact

• Shareholders: The sale is a routine, non-discretionary event for tax purposes and is unlikely to have a significant impact on shareholder sentiment or the company's valuation.

Key Dates

Recommendation

Keywords

Toast, TOST, Form 4, Insider Transaction, Share Sale, RSU, Tax Withholding, Brian R. Elworthy, General Counsel