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

Role
Co-President, Director
Signature
/s/ Brian R. Elworthy, as Attorney-in-Fact
Issuer symbol
TOST
Transactions as of
24 Sep 2021
Net transactions value
$0
Form type
4
Filing time
27 Sep 2021, 21:32:48 UTC
Previous filing
21 Sep 2021
Next filing
24 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Common Stock Other -23,653,040 -100% 0 24 Sep 2021 Direct F1, F2
transaction TOST Common Stock Other -6,833,335 -100% 0 24 Sep 2021 See footnote F1, F2, F3
transaction TOST Common Stock Other -2,000,000 -100% 0 24 Sep 2021 See footnote F1, F2, F4
transaction TOST Common Stock Other -750,000 -100% 0 24 Sep 2021 See footnote F1, F2, F5

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 +23,653,040 $0.000000 23,653,040 24 Sep 2021 Class A Common Stock 23,653,040 Direct F1, F2
transaction TOST Class B Common Stock Other $0 +6,833,335 $0.000000 6,833,335 24 Sep 2021 Class A Common Stock 6,833,335 See footnote F1, F2, F3
transaction TOST Class B Common Stock Other $0 +2,000,000 $0.000000 2,000,000 24 Sep 2021 Class A Common Stock 2,000,000 See footnote F1, F2, F4
transaction TOST Class B Common Stock Other $0 +750,000 $0.000000 750,000 24 Sep 2021 Class A Common Stock 750,000 See footnote F1, F2, F5
transaction TOST Stock Option (Right to Buy) Other $0 -75,000 -100% $0.000000* 0 24 Sep 2021 Common Stock 75,000 $15.27 Direct F1, F6
transaction TOST Stock Option (Right to Buy) Other $0 +75,000 $0.000000 75,000 24 Sep 2021 Class B Common Stock 75,000 $15.27 Direct F1, F2, F6
transaction TOST Restricted Stock Units Other $0 -25,000 -100% $0.000000* 0 24 Sep 2021 Common Stock 25,000 Direct F1, F7, F8
transaction TOST Restricted Stock Units Other $0 +25,000 $0.000000 25,000 24 Sep 2021 Class B Common Stock 25,000 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 SHFA 2021 Nominee Trust.
F4 Shares held by the SHFA Family Trust.
F5 Shares held by the Fredette Family Nominee Trust.
F6 The shares subject to this option shall vest in twenty equal quarterly installments over five years following March 22, 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 April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.