BlackRock (NYSE: TOST) reports 26.1M shares, 4.98% ownership in Toast

Rhea-AI Filing Summary

BlackRock, Inc. amended a Schedule 13G reporting beneficial ownership of 26,126,285 shares of Toast Inc. Class A common stock, representing 4.98% of the class. The filing shows sole voting power over 23,928,755 shares and sole dispositive power over 26,126,285 shares. The cover cites CUSIP 888787108 and includes a statement that the holdings reflect certain Reporting Business Units of BlackRock. The amendment is signed by Spencer Fleming, Managing Director, dated 04/27/2026.

Insights

Institutional Ownership Analyst

BlackRock reports a sub-5% stake in Toast, disclosed via a Schedule 13G/A.

The filing quantifies BlackRock's beneficial ownership as 26,126,285 shares (4.98%) with 23,928,755 shares subject to sole voting power. This listing aggregates holdings across specified Reporting Business Units rather than a single business unit.

Ownership under 5% typically signals passive investment reporting; subsequent changes in stake level or voting power would be disclosed in later filings. Share-counts and voting/dispositive breakdowns are the primary items investors can verify from this filing.

Key Figures

Beneficial ownership: 26,126,285 shares Percent of class: 4.98% Sole voting power: 23,928,755 shares +3 more

6 metrics

Beneficial ownership 26,126,285 shares Amount beneficially owned reported on Schedule 13G/A

Percent of class 4.98% Percent of Class A stock reported in Item 4(b)

Sole voting power 23,928,755 shares Number of shares with sole power to vote (Item 4(c)(i))

Sole dispositive power 26,126,285 shares Number of shares with sole power to dispose (Item 4(c)(iii))

CUSIP 888787108 Identifier for Toast Inc. Class A stock on the cover

Signature date 04/27/2026 Date the amendment was signed by Spencer Fleming

Key Terms

beneficially owned, sole dispositive power, Schedule 13G/A, Reporting Business Units

4 terms

beneficially owned regulatory

"reflects the securities beneficially owned, or deemed to be beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 26126285"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G/A regulatory

"Amendment No. 1 TOAST INC Class A Stock"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Reporting Business Units other

"beneficially owned by certain Reporting Business Units of BlackRock, Inc."

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TOAST INC

(Name of Issuer)

Class A Stock

(Title of Class of Securities)

888787108

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 888787108

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 23,928,755.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 26,126,285.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,126,285.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.98 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TOAST INC
(b)	Address of issuer's principal executive offices: 333 SUMMER STREET BOSTON MA 02210
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Class A Stock
(e)	CUSIP No.: 888787108
Item 4.	Ownership
(a)	Amount beneficially owned: 26126285
(b)	Percent of class: 4.98 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 23928755
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 26126285
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of TOAST INC. No one person's interest in the common stock of TOAST INC is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	04/27/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

How many Toast Inc. (TOST) shares does BlackRock report owning?

BlackRock reports beneficial ownership of 26,126,285 shares of Toast Inc. Class A stock, which the filing states equals 4.98% of the class. The document lists voting and dispositive power allocations for those shares.

What voting power does BlackRock report for TOST shares?

The Schedule 13G/A shows sole voting power over 23,928,755 shares and shared voting power of 0 shares. The filing separates voting authority from dispositive power for clarity.

Does the filing indicate BlackRock is an active or passive holder of TOST?

The filing is a Schedule 13G/A, a form used for passive investors; it reports holdings for certain Reporting Business Units of BlackRock. The document does not assert active control or an intent to influence management.

What CUSIP and filing dates are shown in the amendment?

The filing lists CUSIP 888787108. The cover references 03/31/2026 and the signature block is dated 04/27/2026, when Spencer Fleming signed the amendment as Managing Director.

Are the reported shares held by a single BlackRock entity or multiple units?

The amendment states the amounts reflect securities beneficially owned by certain Reporting Business Units of BlackRock, Inc. and its subsidiaries and affiliates, rather than a single business unit. Specific subsidiary identification may be in an attached exhibit.