Form 4: Toast Inc. President Stephen Fredette Sells Shares to Cover Tax Obligations

Stephen Fredette, President of Toast, Inc., sold 1,068 shares of Class A Common Stock on February 4, 2025, to cover tax withholding obligations related to RSU vesting.

Summary

• On February 4, 2025, Stephen Fredette, the President of Toast, Inc., sold 1,068 shares of Class A Common Stock at a price of $39.629 per share.
• The sale was executed to cover tax withholding obligations associated with the vesting and settlement of Restricted Stock Units (RSUs).
• Following the transaction, Fredette directly owns 1,644,656 shares of Class A Common Stock.
• Fredette also indirectly owns 66,896 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.
• As of the date of the Form 4 filing, 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 related to insider trading. It doesn't inherently convey positive or negative sentiment, as it simply reports a transaction.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders. This filing indicates a sale of shares by a key executive to cover tax obligations, which is a common practice.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale (tax obligations).

Key Dates

Keywords

Form 4, Toast Inc., Stephen Fredette, Class A Common Stock, RSU, Tax Withholding, Beneficial Ownership, Insider Trading