Form 4: Toast Inc. President Stephen Fredette Sells Shares Under 10b5-1 Trading Plan

Stephen Fredette, President of Toast Inc., executed sales of Class A Common Stock on October 8 and 9, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Stephen Fredette, President of Toast Inc., sold shares of Class A Common Stock on October 8 and 9, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on June 11, 2024.
• On October 8, 2024, 6,399 shares were sold at a weighted average price of $29.002, with prices ranging from $29.00 to $29.01.
• On October 9, 2024, 39,768 shares were sold at a weighted average price of $29.02, with prices ranging from $29.00 to $29.15.
• Following these transactions, Fredette directly owns 1,795,301 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.
• As of the date of the Form 4, 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 document is a standard SEC filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions.

Industry Context

Sales by company presidents are common and often pre-planned to avoid insider trading accusations. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• Shareholders may react to the news of the President selling shares, although the existence of a 10b5-1 plan mitigates concerns about insider information.

Key Dates