Director Yuan David sells entire 635,000-share stake for $27.6M across 5 transactions at $43.18–$44.02, reducing holdings to zero
Yuan David, a director at Toast, executed 5 separate sales totaling 635,000 shares for $27,574,469.08 between November 25–26, 2024, liquidating his entire position at prices ranging from $43.01 to $44.02, near the 52-week high of $43.21. The blended average price of $43.42 reflects execution across a narrow intraday band, with no post-transaction holdings remaining. This complete exit occurs against a backdrop of strong recent price momentum—the stock has risen 43.4% over the prior 30 days and 75.3% over 90 days—yet the company remains unprofitable on a full-year basis despite revenue growth of 41.5% and a recent quarter showing $1.3B in revenue. The total elimination of the director's equity stake, combined with the timing near a 52-week peak after substantial run-up, represents a material change in insider commitment to the company.