Mark J. Hawkins - Sep 21, 2021 Form 3 Insider Report for Toast, Inc. (TOST)

Role
Director
Signature
/s/ Brian R. Elworthy, as Attorney-in-Fact
Stock symbol
TOST
Transactions as of
Sep 21, 2021
Transactions value $
$0
Form type
3
Date filed
9/21/2021, 08:29 PM
Previous filing
Jun 24, 2021
Next filing
Sep 27, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TOST Common Stock 52.8K Sep 21, 2021 Direct F1

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 Restricted Stock Units Sep 21, 2021 Common Stock 106K Direct F1, F2, F3
holding TOST Restricted Stock Units Sep 21, 2021 Common Stock 9.55K Direct F1, F3, F4
* 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 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 The Restricted Stock Units ("RSUs") shall vest in two equal annual installments: 50% on April 27, 2022 and 50% on April 27, 2023.
F3 RSUs convert into Class B Common Stock on a one-for-one basis upon vesting and settlement.
F4 The RSUs shall vest in full on May 1, 2022, contingent upon the completion of the Issuer's initial public offering.

Remarks:

Exhibit 24 - Power of Attorney