Form 4: Toast Inc. President Stephen Fredette Reports Stock Sales and Gift

Stephen Fredette, President of Toast, Inc., reported the sale of Class A Common Stock and a gift of shares, according to a Form 4 filing with the SEC.

Summary

• Stephen Fredette, President of Toast, Inc., filed a Form 4 with the SEC detailing changes in beneficial ownership.
• On September 27, 2024, Fredette sold 128,241 shares of Class A Common Stock at a weighted average price of $28.266 and 53,063 shares at a weighted average price of $29.276.
• On September 30, 2024, he sold 812 shares of Class A Common Stock at a weighted average price of $28.279.
• Also on September 30, 2024, Fredette made a gift of 62,500 shares of Class A Common Stock.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on June 11, 2024.
• Following these transactions, Fredette directly owns 1,834,066 shares of Class A Common Stock.
• Fredette also indirectly owns 177,500 shares through the Fredette Family Nominee Trust, 2,303,442 shares through the SHFA 2021 Nominee Trust, and 419,991 shares through the SHFA Family Trust.
• Fredette also owns 25,722,670 shares of Class B common stock, each convertible into one share of Class A common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock transactions by an insider, which could be for various personal financial reasons and doesn't necessarily reflect a positive or negative outlook on the company.

Industry Context

This filing is a routine disclosure of insider transactions and provides transparency to investors regarding the trading activities of company executives.

Stakeholder Impact

• The stock sales by a company insider could be perceived negatively by some shareholders, potentially leading to short-term price fluctuations.

Key Dates