Form 4: Toast Inc. Executive James Michael Matlock Reports Stock Transactions
SEC Form 4 Filing
Principal Accounting Officer James Michael Matlock reports stock transactions related to vesting and settlement of Restricted Stock Units.
Summary
- On August 1, 2024, James Michael Matlock, Principal Accounting Officer of Toast, Inc., reported transactions involving Class A Common Stock.
- These transactions included the conversion of 15,625 and 978 Restricted Stock Units (RSUs) into Class A Common Stock.
- Matlock also sold 9,173 shares at $24.001 to cover tax withholding obligations related to the vesting of RSUs.
- Following these transactions, Matlock directly owns 55,548 shares of Class A Common Stock and 78,125 and 5,869 Restricted Stock Units.
- The RSUs convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
Sentiment
Score: 5
Explanation: The document reflects standard insider trading activity related to executive compensation, with no particularly positive or negative implications.
Industry Context
Form 4 filings are standard disclosures required by the SEC for insiders of publicly traded companies, providing transparency into their trading activities. This filing indicates routine transactions related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| February 1, 2022 | Start date for vesting of some RSUs in sixteen equal quarterly installments. |
| November 1, 2022 | Date when 25% of some RSUs vested. |
| August 1, 2024 | Date of RSU conversion to Class A Common Stock. |
| August 2, 2024 | Date of sale of shares to cover tax obligations. |
| August 5, 2024 | Date of Form 4 filing. |
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