<SEC-DOCUMENT>0000950170-25-084506.txt : 20250610
<SEC-HEADER>0000950170-25-084506.hdr.sgml : 20250610
<ACCEPTANCE-DATETIME>20250610174549
ACCESSION NUMBER:		0000950170-25-084506
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250606
FILED AS OF DATE:		20250610
DATE AS OF CHANGE:		20250610

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bennett Richard Kent
		CENTRAL INDEX KEY:			0001860725
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40819
		FILM NUMBER:		251038262

	MAIL ADDRESS:	
		STREET 1:		1865 PALMER AVENUE
		STREET 2:		SUITE 104
		CITY:			LARCHMONT
		STATE:			NY
		ZIP:			10538

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Toast, Inc.
		CENTRAL INDEX KEY:			0001650164
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		ORGANIZATION NAME:           	06 Technology
		EIN:				454168768
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		333 SUMMER STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		617-297-1005

	MAIL ADDRESS:	
		STREET 1:		333 SUMMER STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-06-06</periodOfReport>

    <issuer>
        <issuerCik>0001650164</issuerCik>
        <issuerName>Toast, Inc.</issuerName>
        <issuerTradingSymbol>TOST</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001860725</rptOwnerCik>
            <rptOwnerName>Bennett Richard Kent</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TOAST, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>333 SUMMER STREET</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02210</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-06-06</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-06-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>9712</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>43.14</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>534167</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On June 6, 2025, Bessemer Venture Partners IX L.P. (&quot;BVP IX&quot;) and Bessemer Venture Partners IX Institutional L.P. (BVP IX Inst&quot; and together with BVP IX, the &quot;BVP IX Funds&quot;) sold 28,526 and 35,607 shares of Class A Common Stock of Toast, Inc., respectively, at a weighted average price of $43.77. These shares were sold in multiple transactions at prices ranging from $43.65 to $43.88. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
        <footnote id="F2">The Reporting Person is a partner at Bessemer Venture Partners and has an indirect, passive economic interest in the shares held by the Bessemer IX Funds by virtue of his interest in (1) Deer IX &amp; Co. L.P., the general partner of the Bessemer IX Funds and (2) certain other indirect limited partnership interests in certain of the BVP IX Funds. The Reporting Person disclaims beneficial ownership of the securities held by the Bessemer IX Funds, except to the extent of his pecuniary interest, if any, in such securities by virtue of his indirect interest in the Bessemer IX Fund. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities.</footnote>
        <footnote id="F3">Includes 9,712 Class A Common Stock received by the Reporting Person related to equity grants issued by the Company. The Reporting Person has agreed to assign to Deer Management Co. LLC (&quot;DMC&quot;). the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kent Bennett</signatureName>
        <signatureDate>2025-06-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
