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STOCK TITAN

[Form 4] Toast, Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

NCS Multistage Holdings, Inc. (NCSM) filed a Form 144 indicating a proposed sale of 548 common shares through Morgan Stanley Smith Barney on or around 08/04/2025 via NASDAQ. The shares were originally acquired as restricted stock on 02/28/2025. At the stated market value of $16,440.44, the transaction represents roughly 0.02% of the company’s 2,540,849 outstanding shares. No prior insider sales were reported in the past three months, and the filer affirms no undisclosed material adverse information about the issuer.

The filing is routine and signals a modest liquidity event rather than a strategic shift. Given the tiny proportion of shares involved, the market impact should be negligible unless taken as a broader sentiment indicator of insider confidence.

NCS Multistage Holdings, Inc. (NCSM) ha presentato un Modulo 144 indicando la proposta di vendita di 548 azioni ordinarie tramite Morgan Stanley Smith Barney intorno al 04/08/2025 attraverso il NASDAQ. Le azioni erano state originariamente acquisite come azioni vincolate il 28/02/2025. Al valore di mercato dichiarato di 16.440,44 $, l’operazione rappresenta circa il 0,02% delle 2.540.849 azioni in circolazione della società. Negli ultimi tre mesi non sono state segnalate vendite interne precedenti e il dichiarante conferma l’assenza di informazioni materiali negative non divulgate sull’emittente.

La comunicazione è di routine e indica un evento di liquidità modesto piuttosto che un cambiamento strategico. Considerata la piccola percentuale di azioni coinvolte, l’impatto sul mercato dovrebbe essere trascurabile, a meno che non venga interpretato come un indicatore più ampio del sentimento di fiducia degli insider.

NCS Multistage Holdings, Inc. (NCSM) presentó un Formulario 144 indicando una venta propuesta de 548 acciones comunes a través de Morgan Stanley Smith Barney alrededor del 04/08/2025 vía NASDAQ. Las acciones fueron adquiridas originalmente como acciones restringidas el 28/02/2025. Al valor de mercado declarado de 16,440.44 $, la transacción representa aproximadamente el 0.02% de las 2,540,849 acciones en circulación de la compañía. No se reportaron ventas internas previas en los últimos tres meses y el declarante afirma no tener información material adversa no divulgada sobre el emisor.

La presentación es rutinaria y señala un evento de liquidez modesto más que un cambio estratégico. Dada la pequeña proporción de acciones involucradas, el impacto en el mercado debería ser insignificante a menos que se interprete como un indicador más amplio del sentimiento de confianza interna.

NCS Multistage Holdings, Inc. (NCSM)ì€ Form 144ë¥� 제출하여 Morgan Stanley Smith Barneyë¥� 통해 2025ë…� 8ì›� 4ì¼ê²½ ±·´¡³§¶Ù´¡²Ïì—서 548ì£� 보통ì£� 매ê°ì� 제안했습니다. 해당 주ì‹ì€ ì›ëž˜ 2025ë…� 2ì›� 28ì� 제한 주ì‹ìœ¼ë¡œ ì·¨ë“ë˜ì—ˆìŠµë‹ˆë‹�. 명시ë� 시장 ê°€ì¹� $16,440.44 기준으로, ì´ë²ˆ 거래ëŠ� 회사ì� ì´� 2,540,849ì£� ì¤� ì•� 0.02%ì—� 해당합니ë‹�. ì§€ë‚� 3개월ê°� ë‚´ë¶€ìž� íŒë§¤ ë³´ê³ ëŠ� 없었으며, 제출ìžëŠ” 발행ìžì— 대í•� 미공ê°� 중대í•� ë¶€ì •ì  ì •ë³´ê°€ ì—†ìŒì� 확ì¸í–ˆìŠµë‹ˆë‹¤.

ì´ë²ˆ ì œì¶œì€ ì¼ìƒì ì¸ 절차ë¡�, ì „ëžµì � 변화보다는 소규ëª� 유ë™ì„� ì´ë²¤íŠ¸ë¥¼ ì˜ë¯¸í•©ë‹ˆë‹�. 거래ë� ì£¼ì‹ ë¹„ì¤‘ì� 매우 ì ì–´ 시장 ì˜í–¥ì€ 미미í•� 것으ë¡� ë³´ì´ë©�, ë‚´ë¶€ìž� 신뢰ë„ì— ëŒ€í•� 광범위한 심리 지표로 í•´ì„ë˜ì§€ 않는 í•� í� ë³€ë™ì€ ì—†ì„ ê²ƒìž…ë‹ˆë‹¤.

NCS Multistage Holdings, Inc. (NCSM) a déposé un formulaire 144 indiquant une vente proposée de 548 actions ordinaires par l'intermédiaire de Morgan Stanley Smith Barney aux alentours du 04/08/2025 via le NASDAQ. Les actions avaient été initialement acquises sous forme de restricted stock le 28/02/2025. À la valeur marchande indiquée de 16 440,44 $, la transaction représente environ 0,02 % des 2 540 849 actions en circulation de la société. Aucune vente d'initié antérieure n'a été signalée au cours des trois derniers mois, et le déclarant affirme qu'aucune information défavorable importante non divulguée concernant l'émetteur n'existe.

Le dépôt est de routine et indique un événement de liquidité modeste plutôt qu'un changement stratégique. Étant donné la faible proportion d'actions concernées, l'impact sur le marché devrait être négligeable, sauf si cela est interprété comme un indicateur plus large du sentiment de confiance des initiés.

NCS Multistage Holdings, Inc. (NCSM) hat ein Formular 144 eingereicht, das einen geplanten Verkauf von 548 Stammaktien über Morgan Stanley Smith Barney am oder um den 04.08.2025 über die NASDAQ anzeigt. Die Aktien wurden ursprünglich als Restricted Stock am 28.02.2025 erworben. Zum angegebenen Marktwert von 16.440,44 $ entspricht die Transaktion etwa 0,02 % der 2.540.849 ausstehenden Aktien des Unternehmens. In den vergangenen drei Monaten wurden keine Insider-Verkäufe gemeldet, und der Anmelder bestätigt, dass keine nicht offengelegten wesentlichen nachteiligen Informationen über den Emittenten vorliegen.

Die Meldung ist routinemäßig und signalisiert eher ein geringfügiges Liquiditätsereignis als eine strategische Veränderung. Aufgrund des sehr kleinen Anteils der betroffenen Aktien sollte die Marktauswirkung vernachlässigbar sein, sofern dies nicht als breiteres Stimmungsbarometer für das Vertrauen der Insider interpretiert wird.

Positive
  • Sale size is only 0.02% of outstanding shares, limiting dilution or pricing pressure.
  • No insider sales reported in prior three months, indicating limited selling trend.
Negative
  • Any insider disposition may be viewed negatively by some investors as a sentiment cue despite its small size.

Insights

TL;DR: Very small insider sale; governance impact minimal.

The proposed sale equals only 0.02% of shares outstanding and follows required disclosure under Rule 144. Absence of recent sales and the standard representation of no undisclosed adverse info suggest procedural compliance rather than concern. Investors should note, however, that any insider sale can be interpreted as a soft signal of sentiment even when immaterial in size.

TL;DR: Transaction size immaterial; unlikely to affect valuation.

At just $16.4k, the liquidation has no bearing on cash flow, capital structure, or float. I view it as non-impactful for portfolio positioning, though I monitor cumulative insider activity for trend shifts.

NCS Multistage Holdings, Inc. (NCSM) ha presentato un Modulo 144 indicando la proposta di vendita di 548 azioni ordinarie tramite Morgan Stanley Smith Barney intorno al 04/08/2025 attraverso il NASDAQ. Le azioni erano state originariamente acquisite come azioni vincolate il 28/02/2025. Al valore di mercato dichiarato di 16.440,44 $, l’operazione rappresenta circa il 0,02% delle 2.540.849 azioni in circolazione della società. Negli ultimi tre mesi non sono state segnalate vendite interne precedenti e il dichiarante conferma l’assenza di informazioni materiali negative non divulgate sull’emittente.

La comunicazione è di routine e indica un evento di liquidità modesto piuttosto che un cambiamento strategico. Considerata la piccola percentuale di azioni coinvolte, l’impatto sul mercato dovrebbe essere trascurabile, a meno che non venga interpretato come un indicatore più ampio del sentimento di fiducia degli insider.

NCS Multistage Holdings, Inc. (NCSM) presentó un Formulario 144 indicando una venta propuesta de 548 acciones comunes a través de Morgan Stanley Smith Barney alrededor del 04/08/2025 vía NASDAQ. Las acciones fueron adquiridas originalmente como acciones restringidas el 28/02/2025. Al valor de mercado declarado de 16,440.44 $, la transacción representa aproximadamente el 0.02% de las 2,540,849 acciones en circulación de la compañía. No se reportaron ventas internas previas en los últimos tres meses y el declarante afirma no tener información material adversa no divulgada sobre el emisor.

La presentación es rutinaria y señala un evento de liquidez modesto más que un cambio estratégico. Dada la pequeña proporción de acciones involucradas, el impacto en el mercado debería ser insignificante a menos que se interprete como un indicador más amplio del sentimiento de confianza interna.

NCS Multistage Holdings, Inc. (NCSM)ì€ Form 144ë¥� 제출하여 Morgan Stanley Smith Barneyë¥� 통해 2025ë…� 8ì›� 4ì¼ê²½ ±·´¡³§¶Ù´¡²Ïì—서 548ì£� 보통ì£� 매ê°ì� 제안했습니다. 해당 주ì‹ì€ ì›ëž˜ 2025ë…� 2ì›� 28ì� 제한 주ì‹ìœ¼ë¡œ ì·¨ë“ë˜ì—ˆìŠµë‹ˆë‹�. 명시ë� 시장 ê°€ì¹� $16,440.44 기준으로, ì´ë²ˆ 거래ëŠ� 회사ì� ì´� 2,540,849ì£� ì¤� ì•� 0.02%ì—� 해당합니ë‹�. ì§€ë‚� 3개월ê°� ë‚´ë¶€ìž� íŒë§¤ ë³´ê³ ëŠ� 없었으며, 제출ìžëŠ” 발행ìžì— 대í•� 미공ê°� 중대í•� ë¶€ì •ì  ì •ë³´ê°€ ì—†ìŒì� 확ì¸í–ˆìŠµë‹ˆë‹¤.

ì´ë²ˆ ì œì¶œì€ ì¼ìƒì ì¸ 절차ë¡�, ì „ëžµì � 변화보다는 소규ëª� 유ë™ì„� ì´ë²¤íŠ¸ë¥¼ ì˜ë¯¸í•©ë‹ˆë‹�. 거래ë� ì£¼ì‹ ë¹„ì¤‘ì� 매우 ì ì–´ 시장 ì˜í–¥ì€ 미미í•� 것으ë¡� ë³´ì´ë©�, ë‚´ë¶€ìž� 신뢰ë„ì— ëŒ€í•� 광범위한 심리 지표로 í•´ì„ë˜ì§€ 않는 í•� í� ë³€ë™ì€ ì—†ì„ ê²ƒìž…ë‹ˆë‹¤.

NCS Multistage Holdings, Inc. (NCSM) a déposé un formulaire 144 indiquant une vente proposée de 548 actions ordinaires par l'intermédiaire de Morgan Stanley Smith Barney aux alentours du 04/08/2025 via le NASDAQ. Les actions avaient été initialement acquises sous forme de restricted stock le 28/02/2025. À la valeur marchande indiquée de 16 440,44 $, la transaction représente environ 0,02 % des 2 540 849 actions en circulation de la société. Aucune vente d'initié antérieure n'a été signalée au cours des trois derniers mois, et le déclarant affirme qu'aucune information défavorable importante non divulguée concernant l'émetteur n'existe.

Le dépôt est de routine et indique un événement de liquidité modeste plutôt qu'un changement stratégique. Étant donné la faible proportion d'actions concernées, l'impact sur le marché devrait être négligeable, sauf si cela est interprété comme un indicateur plus large du sentiment de confiance des initiés.

NCS Multistage Holdings, Inc. (NCSM) hat ein Formular 144 eingereicht, das einen geplanten Verkauf von 548 Stammaktien über Morgan Stanley Smith Barney am oder um den 04.08.2025 über die NASDAQ anzeigt. Die Aktien wurden ursprünglich als Restricted Stock am 28.02.2025 erworben. Zum angegebenen Marktwert von 16.440,44 $ entspricht die Transaktion etwa 0,02 % der 2.540.849 ausstehenden Aktien des Unternehmens. In den vergangenen drei Monaten wurden keine Insider-Verkäufe gemeldet, und der Anmelder bestätigt, dass keine nicht offengelegten wesentlichen nachteiligen Informationen über den Emittenten vorliegen.

Die Meldung ist routinemäßig und signalisiert eher ein geringfügiges Liquiditätsereignis als eine strategische Veränderung. Aufgrund des sehr kleinen Anteils der betroffenen Aktien sollte die Marktauswirkung vernachlässigbar sein, sofern dies nicht als breiteres Stimmungsbarometer für das Vertrauen der Insider interpretiert wird.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Narang Aman

(Last) (First) (Middle)
TOAST, INC.
333 SUMMER STREET

(Street)
BOSTON MA 02210

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Toast, Inc. [ TOST ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
CEO
3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 08/01/2025 M 3,521 A (1) 306,019 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (1) 08/01/2025 M 3,521 (2) (2) Class A Common Stock 3,521 $0 7,042 D
Explanation of Responses:
1. Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
2. The RSUs shall vest in sixteen equal quarterly installments following February 1, 2022.
Remarks:
As of the date of this Form 4, the Reporting Person also owns 18,912,840 shares of Class B common stock of the Issuer. Each Class B common stock is convertible at any time into one share of the Class A common stock of the Issuer.
/s/ Xing Yan as Attorney-in-Fact for Aman Narang 08/04/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many NCSM shares are being sold under this Form 144?

The notice covers 548 common shares.

What is the approximate market value of the proposed sale?

The aggregate market value is $16,440.44.

When is the planned sale date for NCSM shares?

The filer listed an approximate sale date of 08/04/2025.

What percentage of NCS Multistage’s outstanding shares does this represent?

It represents about 0.02% of the 2,540,849 shares outstanding.

Were there any insider sales in the prior three months?

The filing states "Nothing to Report" for sales in the past three months.
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26.99B
452.73M
8.86%
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Software - Infrastructure
Services-computer Processing & Data Preparation
United States
BOSTON