Technology Investment Dining Group, LLC - Sep 21, 2021 Form 3 Insider Report for Toast, Inc. (TOST)

Role: 10%+ Owner
Signature: TECHNOLOGY INVESTMENT DINING GROUP, LLC, By: /s/ Steven Papa, Managing Member
Stock symbol: TOST
Transactions as of: Sep 21, 2021
Transactions value $: $0
Form type: 3
Date filed: 9/21/2021, 09:04 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						35.9M	Sep 21, 2021	Direct	F1, F2

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 A Preferred Stock							Sep 21, 2021	Common Stock	18.1M		Direct	F1, F2, F3
holding	TOST	Series B Preferred Stock							Sep 21, 2021	Common Stock	1.28M		Direct	F1, F2, F3

* 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 shares are held directly by Technology Investment Dining Group, LLC. These shares are owned indirectly by Steven Papa by virtue of him being the managing member of Technology Investment Dining Group, LLC.
F3	Each share of the Issuer's Series A Preferred Stock and Series B 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.