Technology Investment Dining Group, LLC - Sep 24, 2021 Form 4 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 24, 2021
Transactions value $: $0
Form type: 4
Date filed: 9/27/2021, 09:35 PM
Previous filing: Sep 21, 2021
Next filing: Nov 16, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TOST	Common Stock	Conversion of derivative security		-19.4M	-25.92%		55.3M	Sep 24, 2021	Direct	F1, F2
transaction	TOST	Common Stock	Other		-55.3M	-100%		0	Sep 24, 2021	Direct	F2, F3, F4

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	Series A Preferred Stock	Conversion of derivative security	$0	-18.1M	-100%	$0.00^*	0	Sep 24, 2021	Common Stock	18.1M		Direct	F1, F2
transaction	TOST	Series B Preferred Stock	Conversion of derivative security	$0	-1.28M	-100%	$0.00^*	0	Sep 24, 2021	Common Stock	1.28M		Direct	F1, F2
transaction	TOST	Class B Common Stock	Other	$0	+55.3M		$0.00	55.3M	Sep 24, 2021	Class A Common Stock	55.3M		Direct	F2, F3, F4

* 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 Series A Preferred Stock and Series B Preferred Stock (together, the "Preferred Stock") automatically converted into one share of the Issuer's Common Stock. The Preferred Stock had no expiration date.
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	Immediately prior to the completion of the Issuer's initial public offering and following the conversion of each series of the Issuer's Preferred Stock into Common Stock, each share of Common Stock was reclassified into one share of Class B Common Stock in an exempt transaction pursuant to Rule 16b-7.
F4	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.