Form 4: Toast Inc. President Stephen Fredette Reports Stock Transactions

Stephen Fredette, President of Toast, Inc., reports multiple transactions involving Class A Common Stock and Restricted Stock Units, including acquisitions, disposals, and conversions related to vesting.

Summary

• Stephen Fredette, President of Toast, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On October 1, 2024, Fredette acquired 1,565, 5,697, and 5,651 shares of Class A Common Stock through the conversion of Restricted Stock Units (RSUs).
• On October 2, 2024, Fredette disposed of 5,511 shares of Class A Common Stock at a price of $27.765 per share to cover tax withholding obligations related to RSU vesting.
• Following these transactions, Fredette directly owns 1,841,468 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.
• Additionally, Fredette 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 document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. These transactions are subject to regulatory scrutiny to prevent insider trading.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The transactions reported are typical for executives receiving stock-based compensation.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.

Key Dates