Form 4: Toast Inc. Executive Brian R. Elworthy Reports Stock Transactions

Brian R. Elworthy, General Counsel of Toast, Inc., reports acquisition and disposal of Class A Common Stock and Restricted Stock Units.

Summary

• On April 1, 2024, Brian R. Elworthy, General Counsel of Toast, Inc., acquired 1,250 and 3,482 shares of Class A Common Stock upon vesting of Restricted Stock Units (RSUs).
• Also on April 1, 2024, 1,250 and 3,482 Restricted Stock Units converted into Class A Common Stock.
• On April 2, 2024, Elworthy disposed of 1,481 shares of Class A Common Stock at a price of $23.396 per share to cover tax withholding obligations related to the vesting of RSUs.
• Following these transactions, Elworthy directly owns 162,883 shares of Class A Common Stock and indirectly owns 78,736 shares through the Brian R. Elworthy Irrevocable Trust of 2019.
• He also directly owns 6,250 and 41,781 Restricted Stock Units.

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting transactions. It doesn't indicate positive or negative sentiment about the company's performance.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders who trade their company's stock. It provides transparency into the transactions of key personnel.

Comparison to Industry Standards

• Form 4 filings are a standard part of regulatory compliance for publicly traded companies, ensuring transparency in insider trading activities.
• Similar filings are made by executives at companies like Block, Inc. and Shopify, reflecting routine stock transactions and option exercises.

Key Dates