Kent Bennett - Sep 21, 2021 Form 3 Insider Report for Toast, Inc. (TOST)

Role
Director
Signature
/s/ Kent Bennett
Stock symbol
TOST
Transactions as of
Sep 21, 2021
Transactions value $
$0
Form type
3
Date filed
9/21/2021, 08:22 PM
Next filing
Sep 27, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TOST Common Stock 0 Sep 21, 2021 See footnote F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding TOST Series B Preferred Stock Sep 21, 2021 Common Stock 0 See footnotes F1, F3, F4, F5
holding TOST Series C Preferred Stock Sep 21, 2021 Common Stock 0 See footnotes F1, F3, F4, F6
holding TOST Series D Preferred Stock Sep 21, 2021 Common Stock 0 See footnotes F1, F3, F4, F7
holding TOST Series E Preferred Stock Sep 21, 2021 Common Stock 0 See footnotes F1, F3, F4, F8
holding TOST Series F Preferred Stock Sep 21, 2021 Common Stock 0 See footnotes F1, F3, F4, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Immediately prior to the completion of the Issuer's initial public offering, each share of the Issuer's common stock ("Common Stock") shall be reclassified into one share of Class B Common Stock in an exempt transaction pursuant to Rule 16b-7. Each outstanding share of Class B Common Stock will be convertible into one share of Class A Common Stock at any time at the option of the holder or automatically upon the occurrence of other events set forth in the Issuer's certificate of incorporation.
F2 As of the date hereof, Bessemer Venture Partners IX L.P. ("Bessemer IX"), Bessemer Venture Partners IX Institutional L.P. ("Bessemer Institutional" and together with Bessemer IX, the "Bessemer IX Funds"), Bessemer Venture Partners Century Fund L.P. ("Bessemer Century") and Bessemer Venture Partners Century Fund Institutional L.P. ("Bessemer Century Institutional", and together with Bessemer Century, the "Bessemer Century Funds") own 2,704,780 shares of Issuer Common Stock, 2,166,945 shares of Common Stock, 0 shares of Common Stock and 0 shares of Common Stock respectively. The Bessemer IX Funds and Bessemer Century Funds shall collectively be referred to herein as the Bessemer Funds.
F3 The Reporting Person is a partner at Bessemer Venture Partners and has an indirect, passive economic interest in the shares held by the Bessemer IX Funds and the Bessemer Century Funds by virtue of his interest in (1) Deer IX & Co. L.P., the general partner of the Bessemer IX Funds, (2) Deer X & Co. L.P., the general partner of the Bessemer Century Funds and (3) certain other indirect limited partnership interests in certain of the Bessemer Funds. The Reporting Person disclaims beneficial ownership of the securities held by the Bessemer IX Funds and the Bessemer Century Funds, except to the extent of his pecuniary interest, if any, in such securities by virtue of his indirect interest in the Bessemer IX Funds and Bessemer Century Funds. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities.
F4 Each share of the Issuer's Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock will automatically convert into shares of Common Stock on a 1:1 basis immediately prior to the closing of the Issuer's initial public offering and has no expiration date.
F5 As of the date hereof, Bessemer IX and Bessemer Institutional own Series B Preferred Stock that is convertible into 22,920,735 shares of Common Stock and 18,363,010 shares of Common Stock, respectively.
F6 As of the date hereof, Bessemer IX and Bessemer Institutional own Series C Preferred Stock that is convertible into 1,612,415 shares of Common Stock and 1,291,790 shares of Common Stock, respectively.
F7 As of the date hereof, Bessemer IX and Bessemer Institutional own Series D Preferred Stock that is convertible into 1,416,375 shares of Common Stock and 1,134,730 shares of Common Stock, respectively.
F8 As of the date hereof, Bessemer IX and Bessemer Institutional own Series E Preferred Stock that is convertible into 162,695 shares of Common Stock and 130,345 shares of Common Stock, respectively.
F9 As of the date hereof, Bessemer IX, Bessemer Institutional, Bessemer Century and Bessemer Century Institutional L.P. own Series F Preferred Stock that is convertible into 1,832,360 shares of Common Stock, 1,468,000 shares of Common Stock, 3,798,490 shares of Common Stock and 601,985 shares of Common Stock, respectively.