Brian R. Elworthy - Sep 24, 2021 Form 4 Insider Report for Toast, Inc. (TOST)

Role
General Counsel
Signature
/s/ Brian R. Elworthy
Stock symbol
TOST
Transactions as of
Sep 24, 2021
Transactions value $
$0
Form type
4
Date filed
9/27/2021, 09:31 PM
Previous filing
Sep 27, 2021
Next filing
Oct 29, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Common Stock Other -429K -100% 0 Sep 24, 2021 Direct F1, F2
transaction TOST Common Stock Other -109K -100% 0 Sep 24, 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
transaction TOST Class B Common Stock Other $0 +429K $0.00 429K Sep 24, 2021 Class A Common Stock 429K Direct F1, F2
transaction TOST Class B Common Stock Other $0 +109K $0.00 109K Sep 24, 2021 Class A Common Stock 109K See footnote F1, F2, F3
transaction TOST Stock Option (Right to Buy) Other $0 -375K -100% $0.00* 0 Sep 24, 2021 Common Stock 375K $1.52 Direct F1, F4
transaction TOST Stock Option (Right to Buy) Other $0 +375K $0.00 375K Sep 24, 2021 Class B Common Stock 375K $1.52 Direct F1, F2, F4
transaction TOST Stock Option (Right to Buy) Other $0 -450K -100% $0.00* 0 Sep 24, 2021 Common Stock 450K $2.21 Direct F1, F5
transaction TOST Stock Option (Right to Buy) Other $0 +450K $0.00 450K Sep 24, 2021 Class B Common Stock 450K $2.21 Direct F1, F2, F5
transaction TOST Stock Option (Right to Buy) Other $0 -60K -100% $0.00* 0 Sep 24, 2021 Common Stock 60K $20.95 Direct F1, F6
transaction TOST Stock Option (Right to Buy) Other $0 +60K $0.00 60K Sep 24, 2021 Class B Common Stock 60K $20.95 Direct F1, F2, F6
transaction TOST Restricted Stock Units Other $0 -20K -100% $0.00* 0 Sep 24, 2021 Common Stock 20K Direct F1, F7, F8
transaction TOST Restricted Stock Units Other $0 +20K $0.00 20K Sep 24, 2021 Class B Common Stock 20K Direct F1, F2, F7, F8
* 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 was reclassified into one share of Class B Common Stock in an exempt transaction pursuant to Rule 16b-7.
F2 Each outstanding share of Class B Common Stock is 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.
F3 Shares held by the Brian R. Elworthy Grantor Retained Annuity Trust of 2019.
F4 The shares subject to this option shall vest in twenty equal quarterly installments over five years following July 1, 2018.
F5 The shares subject to this option shall vest in twenty equal quarterly installments over five years following April 21, 2020.
F6 The shares subject to this option shall vest in twenty equal quarterly installments over five years following June 2, 2021.
F7 The Restricted Stock Units ("RSUs") convert into Class B Common Stock on a one-for-one basis upon vesting and settlement.
F8 The RSUs shall vest as follows: 25% on July 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.