Aman Narang - Sep 24, 2021 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Chief Operating Officer and Co-President, Director
Signature
/s/ Brian R. Elworthy, as Attorney-in-Fact
Stock symbol
TOST
Transactions as of
Sep 24, 2021
Transactions value $
$0
Form type
4
Date filed
9/27/2021, 09:32 PM
Previous filing
Sep 21, 2021
Next filing
Nov 24, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Common Stock Other -23.8M -100% 0 Sep 24, 2021 Direct F1, F2
transaction TOST Common Stock Other -200K -100% 0 Sep 24, 2021 See footnote F1, F2, F3
transaction TOST Common Stock Other -93.7K -100% 0 Sep 24, 2021 See footnote F1, F2, F4
transaction TOST Common Stock Other -65.7K -100% 0 Sep 24, 2021 See footnote F1, F2, F5
transaction TOST Common Stock Other -65.7K -100% 0 Sep 24, 2021 See footnote F1, F2, F6
transaction TOST Common Stock Other -17.7K -100% 0 Sep 24, 2021 See footnote F1, F2, F7

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 +23.8M $0.00 23.8M Sep 24, 2021 Class A Common Stock 23.8M Direct F1, F2
transaction TOST Class B Common Stock Other $0 +200K $0.00 200K Sep 24, 2021 Class A Common Stock 200K See footnote F1, F2, F3
transaction TOST Class B Common Stock Other $0 +93.7K $0.00 93.7K Sep 24, 2021 Class A Common Stock 93.7K See footnote F1, F2, F4
transaction TOST Class B Common Stock Other $0 +65.7K $0.00 65.7K Sep 24, 2021 Class A Common Stock 65.7K See footnote F1, F2, F5
transaction TOST Class B Common Stock Other $0 +65.7K $0.00 65.7K Sep 24, 2021 Class A Common Stock 65.7K See footnote F1, F2, F6
transaction TOST Class B Common Stock Other $0 +17.7K $0.00 17.7K Sep 24, 2021 Class A Common Stock 17.7K See footnote F1, F2, F7
transaction TOST Stock Option (Right to Buy) Other $0 -1.66M -100% $0.00* 0 Sep 24, 2021 Common Stock 1.66M $1.52 Direct F1, F8
transaction TOST Stock Option (Right to Buy) Other $0 +1.66M $0.00 1.66M Sep 24, 2021 Class B Common Stock 1.66M $1.52 Direct F1, F2, F8
transaction TOST Stock Option (Right to Buy) Other $0 -1.43M -100% $0.00* 0 Sep 24, 2021 Common Stock 1.43M $1.52 Direct F1, F9
transaction TOST Stock Option (Right to Buy) Other $0 +1.43M $0.00 1.43M Sep 24, 2021 Class B Common Stock 1.43M $1.52 Direct F1, F2, F9
transaction TOST Stock Option (Right to Buy) Other $0 -75K -100% $0.00* 0 Sep 24, 2021 Common Stock 75K $15.27 Direct F1, F10
transaction TOST Stock Option (Right to Buy) Other $0 +75K $0.00 75K Sep 24, 2021 Class B Common Stock 75K $15.27 Direct F1, F2, F10
transaction TOST Restricted Stock Units Other $0 -25K -100% $0.00* 0 Sep 24, 2021 Common Stock 25K Direct F1, F11, F12
transaction TOST Restricted Stock Units Other $0 +25K $0.00 25K Sep 24, 2021 Class B Common Stock 25K Direct F1, F2, F11, F12
* 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 Narang Family Irrevocable Trust FBO Fitzgerald Family.
F4 Shares held by the Narang Family Irrevocable Trust FBO Varun Narang.
F5 Shares held by the Narang Family Irrevocable Trust FBO Lia Narang.
F6 Shares held by the Narang Family Irrevocable Trust FBO Noah Narang.
F7 Shares held by the Narang Family Irrevocable Trust FBO Vijay and Madhu Narang.
F8 The option was originally granted for 3,325,000 shares, of which 1,662,500 shares were early exercised. The shares subject to this option vest as follows: 207,810 shares vest on October 1, 2021, 207,815 shares vest on January 1, 2022, 207,810 shares vest on April 1, 2022, 207,815 shares vest on July 1, 2022, 207,810 shares vest on October 1, 2022, 207,815 shares vest on January 1, 2023, 207,810 shares vest on April 1, 2023, and 207,815 shares vest on July 1, 2023.
F9 The shares subject to this option are fully vested and exercisable as of the date hereof.
F10 The shares subject to this option shall vest in twenty equal quarterly installments over five years following March 22, 2021.
F11 The Restricted Stock Units ("RSUs") convert into Class B Common Stock on a one-for-one basis upon vesting and settlement.
F12 The RSUs shall vest as follows: 25% on April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.

Remarks:

Chief Operating Officer and Co-President