Form 4: Toast Inc. Executive James Michael Matlock Sells Shares Under 10b5-1 Trading Plan

Principal Accounting Officer of Toast, Inc., James Michael Matlock, sold shares of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• James Michael Matlock, Principal Accounting Officer of Toast, Inc., reported the sale of Class A Common Stock on May 3, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 24, 2023.
• A total of 3,473 shares were sold at a weighted average price of $23.015, with prices ranging from $22.66 to $23.63.
• An additional 678 shares were sold at a weighted average price of $24.069, with prices ranging from $23.66 to $24.26.
• Following these transactions, Matlock directly owns 46,510 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of insider trading activity under a pre-arranged plan. It doesn't necessarily indicate positive or negative sentiment about the company's prospects.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives to use 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates