Form 4: Toast Inc. General Counsel Brian Elworthy Reports Stock Option Grant and RSU Award

Brian R. Elworthy, General Counsel of Toast, Inc., reports the acquisition of stock options and restricted stock units (RSUs) in a recent SEC filing.

Summary

• Brian R. Elworthy, General Counsel of Toast, Inc., filed a Form 4 with the SEC on March 11, 2025.
• The filing reports the grant of stock options to purchase 75,674 shares of Class A Common Stock at an exercise price of $33.49, vesting in sixteen equal quarterly installments following April 1, 2025.
• Elworthy also received 41,156 Restricted Stock Units (RSUs), which convert into Class A Common Stock on a one-for-one basis upon vesting and settlement, also vesting in sixteen equal quarterly installments following April 1, 2025.
• The filing also indicates Elworthy directly owns 209,206 shares of Class A Common Stock and indirectly owns 78,736 shares through the Brian R. Elworthy Irrevocable Trust of 2019.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices, indicating confidence in the company's future performance.

Positives

• The grant of stock options and RSUs to a key executive like the General Counsel can be seen as an incentive to align their interests with the long-term success of the company.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedules for the options and RSUs suggest a multi-year commitment from the executive.

Industry Context

Stock option and RSU grants are common compensation practices in the tech industry to attract and retain talent, aligning employee incentives with company performance.

Comparison to Industry Standards

• Companies like Block (formerly Square), Shopify, and Lightspeed also utilize stock options and RSUs as part of their compensation packages for executives.
• The vesting schedules (quarterly installments over four years) are fairly standard in the industry.

Key Dates