---
schema_version: "secwatch.filing_event.v1"
accession: "0001650164-23-000159"
form_type: "8-K"
ticker: "TOST"
cik: "0001650164"
company_name: "Toast, Inc."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T13:32:18.957186+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Toast terminates Boston lease for ~134K sq ft; pays $16M termination fee

## Summary
- Eighth floor (111,294 sq ft) lease ends June 30, 2023; fifth floor (22,495 sq ft) ends Dec 31, 2024.
- Aggregate early termination fee of ~$16M; portion refundable if Landlord re-lets eighth floor by certain date.
- Lease originally due to expire Dec 31, 2029; early exit reduces future rent obligations.
- No further obligations for terminated spaces after surrender dates.
- Toast retains fifth floor space until end of 2024 with reduced rent and parking from July 2023.

## SEC filing metadata
- accession: 0001650164-23-000159
- form_type: 8-K
- ticker: TOST
- cik: 0001650164
- company_name: Toast, Inc.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1650164/000165016423000159/0001650164-23-000159-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1650164/000165016423000159/tost-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001650164-23-000159
- JSON: https://secwatch.observer/filing/0001650164-23-000159.json
- Plain text: https://secwatch.observer/filing/0001650164-23-000159.txt

## Key facts
- Material Agreements
  Toast, Inc. terminated Lease Termination Agreement with ARE-MA Region No. 88 Tenant, LLC valued at approximately $16 million (effective 2023-05-04).
  - Action: termination
  - Agreement: lease
  - Counterparty: ARE-MA Region No. 88 Tenant, LLC
  - Value: approximately $16 million
  - Effective: 2023-05-04
  source text: On May 4, 2023 (the “ Effective Date ”), Toast, Inc. (the “ Company ”) entered into an Agreement for Termination of Lease and Voluntary Surrender of Premises with ARE-MA Region No. 88 Tenant, LLC (the “ Landlord ”) for certain premises (the “ Premises ”), located at 401 Park Drive, Boston, Massachusetts 02215 (the “ Lease Termination Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1650164/000165016423000159/0001650164-23-000159-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.