diff --git a/headroom/proxy/server.py b/headroom/proxy/server.py
index 1b58db04e..c26160a4a 100644
--- a/headroom/proxy/server.py
+++ b/headroom/proxy/server.py
@@ -2553,6 +2553,7 @@ def create_app(config: ProxyConfig | None = None) -> FastAPI:
         app.state.started_at = time.time()
         app.state.ready = False
         app.state.startup_error = None
+        app.state.periodic_toin_stats_task = None
 
         try:
             try:
@@ -2560,7 +2561,9 @@ def create_app(config: ProxyConfig | None = None) -> FastAPI:
                 # Startup
                 await proxy.startup()
                 if config.periodic_toin_stats_enabled:
-                    asyncio.create_task(_log_toin_stats_periodically())
+                    app.state.periodic_toin_stats_task = asyncio.create_task(
+                        _log_toin_stats_periodically()
+                    )
                 if proxy.usage_reporter:
                     await proxy.usage_reporter.start(proxy)
                 if proxy.traffic_learner:
@@ -2610,6 +2613,16 @@ def create_app(config: ProxyConfig | None = None) -> FastAPI:
                         exc,
                     )
 
+            periodic_toin_stats_task = app.state.periodic_toin_stats_task
+            if periodic_toin_stats_task is not None:
+                periodic_toin_stats_task.cancel()
+                await _timed(
+                    asyncio.gather(periodic_toin_stats_task, return_exceptions=True),
+                    label="periodic_toin_stats.stop",
+                    timeout=3.0,
+                )
+                app.state.periodic_toin_stats_task = None
+
             if _cc_reconciler is not None:
                 await _timed(_cc_reconciler.stop(), label="cc_reconciler.stop", timeout=3.0)
             if _beacon_is_owner[0]:
diff --git a/tests/test_proxy_telemetry_env.py b/tests/test_proxy_telemetry_env.py
index e3ffd65a6..0dc51c117 100644
--- a/tests/test_proxy_telemetry_env.py
+++ b/tests/test_proxy_telemetry_env.py
@@ -98,3 +98,33 @@ class TestProxyPeriodicTOINStatsEnv:
             pass
 
         assert requested is True
+
+    def test_lifespan_cancels_periodic_toin_stats_on_shutdown(self, monkeypatch):
+        """Shutdown cancels and awaits the periodic TOIN stats task."""
+        monkeypatch.setenv("HEADROOM_SKIP_UPSTREAM_CHECK", "1")
+
+        async def hold_periodic_stats_task():
+            await asyncio.Event().wait()
+
+        monkeypatch.setattr(
+            "headroom.proxy.server._log_toin_stats_periodically",
+            hold_periodic_stats_task,
+        )
+
+        app = create_app(
+            ProxyConfig(
+                optimize=False,
+                cache_enabled=False,
+                rate_limit_enabled=False,
+                cost_tracking_enabled=False,
+                periodic_toin_stats_enabled=True,
+            )
+        )
+
+        with TestClient(app):
+            task = app.state.periodic_toin_stats_task
+            assert task is not None
+            assert not task.done()
+
+        assert task.cancelled()
+        assert app.state.periodic_toin_stats_task is None