Form 4: Toast Inc. General Counsel Brian Elworthy Reports Stock Transactions
SEC Form 4 Filing
Brian Elworthy, General Counsel of Toast Inc., reports the vesting and sale of Class A Common Stock and Restricted Stock Units.
Summary
- On April 1, 2025, Brian Elworthy, General Counsel of Toast, Inc., acquired Class A Common Stock through the vesting of Restricted Stock Units (RSUs).
- He acquired 1,250 shares, 3,482 shares, and 3,989 shares through RSU conversions.
- On April 2, 2025, Elworthy sold 2,895 shares of Class A Common Stock at $34.998 per share to cover tax withholding obligations related to the vesting of RSUs.
- Following these transactions, Elworthy directly owns 215,032 shares of Class A Common Stock and indirectly owns 78,736 shares through the Brian R. Elworthy Irrevocable Trust of 2019.
- He also holds 47,870 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules of the RSUs are typical, with vesting occurring over several years.
- Selling shares to cover tax obligations upon vesting of RSUs is a common practice among executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve a small number of shares compared to the total outstanding shares.
- The sale of shares to cover tax obligations is a normal part of executive compensation and doesn't significantly affect the company's financial position.
Key Dates
| Date | Description |
|---|---|
| 07/01/2022 | 25% of certain RSUs vested |
| 04/01/2023 | RSUs vest in sixteen equal quarterly installments following this date |
| 04/01/2024 | RSUs vest in sixteen equal quarterly installments following this date |
| 04/01/2025 | Vesting and conversion of Restricted Stock Units into Class A Common Stock; acquisition of 1,250, 3,482, and 3,989 shares. |
| 04/02/2025 | Sale of 2,895 shares of Class A Common Stock at $34.998 per share for tax obligations. |
| 04/03/2025 | Date of Form 4 signature. |
Keywords
Form 4, Toast Inc., Brian Elworthy, Class A Common Stock, Restricted Stock Units, RSUs, Insider Trading, Beneficial Ownership, SEC Filing
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