President Stephen Fredette sold 896,494 shares (896.5K shares) of TOST for $37,298,093.58 ($37.3M) in 12 separate transactions on 2025-05-09 and 2025-05-12, reducing holdings by 79.9%.
Fredette executed a substantial divestiture, selling 896.5K shares across 12 separate transactions at blended average price $41.60, reducing his holdings from 1,121,347 shares to 224,853 shares—a 79.9% reduction. The timing is notable: the stock is currently at $43.96, up 29.0% over the prior 30 days and at the 52-week high, suggesting he sold into strength. His prior five trades at TOST (all sells on 2025-03-17 and 2025-03-19) each showed negative 30-day returns (-2.4% and -2.1%), but the current sale followed a sharp 30-day rally. The cross-ticker track record shows an average 90-day return of +29.7% after his prior 20 sells, indicating he has generally sold before upside moves rather than downside declines. This large sale near the company's 52-week highs, combined with the substantial reduction in personal holdings, represents material realignment of his equity stake in Toast.