Aman Narang - 18 Aug 2025 Form 4 Insider Report for Toast, Inc. (TOST)

Reporting relationship: CEO, Director
Issuer ticker: TOST
Reported as of: 18 Aug 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 19 Aug 2025, 19:10:26 UTC
Prior SEC filing: 06 Aug 2025
Next SEC filing: 03 Oct 2025
Source filing: View source filing
Reporting owner signature: /s/ Xing Yan as Attorney-in-Fact for Aman Narang

Key filing fact

Aman Narang filed Form 4 for Toast, Inc. (TOST) on 19 Aug 2025.

Key facts

This page summarizes Aman Narang's Form 4 filing for Toast, Inc. (TOST).
1 reported transaction and 1 derivative row are listed below.
Accepted by SEC: 19 Aug 2025, 19:10.

Change

Previous filing in this sequence was filed on 06 Aug 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001869139 Primary reporting owner

Narang Aman

Relationship: CEO, Director
Address: TOAST, INC., 333 SUMMER STREET, BOSTON
Signature: /s/ Xing Yan as Attorney-in-Fact for Aman Narang
Signature date: 19 Aug 2025

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

TOST transaction Derivative

Variable Prepaid Forward (obligation to sell)

Other

Transaction value
Shares: +500,000
Change %
Price
Shares after: 500,000
Date: 18 Aug 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 500,000
Exercise price
Footnotes: F1, F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

On August 18, 2025, the Reporting Person executed a prepaid variable share forward contract (the "Contract") under Rule 144 with an unaffiliated dealer on the Class A Common Stock (the "Subject Shares") of Toast, Inc. (the "Issuer"). Pursuant to the Contact, the Reporting Person received an upfront cash payment of approximately $17.6 million in exchange for agreeing to deliver to the dealer up to 500,000 of the Subject Shares (the "Maximum Number of Shares") or an equivalent amount of cash if the Reporting Person elects cash settlement of the Contract. The number of shares to be delivered (or amount of cash to be paid), will be determined based on the closing price per share of the Subject Shares on the valuation date (the "Settlement Price"), but will not exceed the Maximum Number of Shares.

Footnote F2

The number of Subject Shares to be delivered (or amount of cash to be paid) to the dealer at settlement will be determined as follows: (A) if the Settlement Price is less than or equal to $38.18 (the "Floor Price"), the Reporting Person will deliver the Maximum Number of Shares; (B) if the Settlement Price is less than or equal to $53.54 (the "Cap Price"), but greater than the Floor Price, the Reporting Person will deliver a variable number of Subject Shares; and (C) if the Settlement Price is greater than the Cap Price, the Reporting Person will deliver a minimum number of 356,555 shares of Subject Shares, but will not exceed the Maximum Number of Shares. The Contract is expected to be settled in August 2027.

Footnote F3

Under the Contract, the Reporting Person pledged a number of shares of the Issuer's Class B common stock (the "Pledged Shares") to the dealer. The Reporting Person retains beneficial ownership and voting rights of the Pledged Shares unless and until the Reporting Person elects to physically settle the Contract.

SEC remarks

As of the date of this Form 4, the Reporting Person continues to own 18,912,840 shares of the Issuer's Class B common stock. Each share of Class B common stock is convertible at any time into one share of the Issuer's Class A common stock.