secwatch.observer — SEC 8-K summary
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Issuer:     Toast, Inc. (TOST)
CIK:        0001650164
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001650164-23-000159
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650164/000165016423000159/0001650164-23-000159-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650164/000165016423000159/tost-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001650164-23-000159

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer