Form 4: Toast Inc. Principal Accounting Officer James Michael Matlock Reports Sale of Class A Common Stock

James Michael Matlock, Principal Accounting Officer of Toast, Inc., reported the sale of Class A Common Stock on April 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 15, 2024, James Michael Matlock, the Principal Accounting Officer of Toast, Inc., sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 24, 2023.
• Two transactions were reported: the first involved the sale of 632 shares at a weighted average price of $22.809, and the second involved the sale of 166 shares at a weighted average price of $23.68.
• Following these transactions, Matlock directly owns 40,156 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting insider trading activity, which is neutral in sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a company officer could be perceived negatively by some shareholders, although the existence of a pre-arranged trading plan mitigates this concern.

Key Dates