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

Role
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 -23.7M -100% 0 Sep 24, 2021 Direct F1, F2
transaction TOST Common Stock Other -6.83M -100% 0 Sep 24, 2021 See footnote F1, F2, F3
transaction TOST Common Stock Other -2M -100% 0 Sep 24, 2021 See footnote F1, F2, F4
transaction TOST Common Stock Other -750K -100% 0 Sep 24, 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 +23.7M $0.00 23.7M Sep 24, 2021 Class A Common Stock 23.7M Direct F1, F2
transaction TOST Class B Common Stock Other $0 +6.83M $0.00 6.83M Sep 24, 2021 Class A Common Stock 6.83M See footnote F1, F2, F3
transaction TOST Class B Common Stock Other $0 +2M $0.00 2M Sep 24, 2021 Class A Common Stock 2M See footnote F1, F2, F4
transaction TOST Class B Common Stock Other $0 +750K $0.00 750K Sep 24, 2021 Class A Common Stock 750K See footnote F1, F2, F5
transaction TOST Stock Option (Right to Buy) Other $0 -75K -100% $0.00* 0 Sep 24, 2021 Common Stock 75K $15.27 Direct F1, F6
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, F6
transaction TOST Restricted Stock Units Other $0 -25K -100% $0.00* 0 Sep 24, 2021 Common Stock 25K Direct F1, F7, F8
transaction TOST Restricted Stock Units Other $0 +25K $0.00 25K Sep 24, 2021 Class B Common Stock 25K 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.