Jonathan Grimm - Jan 28, 2022 Form 3 Insider Report for Toast, Inc. (TOST)

Role
Chief Technology Officer, 10%+ Owner
Signature
/s/ Monica Kleinman, Attorney-in-Fact for Jonathan M. Grimm
Stock symbol
TOST
Transactions as of
Jan 28, 2022
Transactions value $
$0
Form type
3
Date filed
2/7/2022, 04:50 PM
Next filing
Mar 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TOST Class A Common Stock 1.68M Jan 28, 2022 See footnote F1

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
holding TOST Class B Common Stock Jan 28, 2022 Class A Common Stock 21.5M See footnote F1, F2
holding TOST Class B Common Stock Jan 28, 2022 Class A Common Stock 2.04M See footnote F2, F3
holding TOST Class B Common Stock Jan 28, 2022 Class A Common Stock 510K See footnote F2, F4
holding TOST Class B Common Stock Jan 28, 2022 Class A Common Stock 510K See footnote F2, F5
holding TOST Stock Option (Right to Buy) Jan 28, 2022 Class B Common Stock 1.43M $1.51 Direct F6
holding TOST Stock Option (Right to Buy) Jan 28, 2022 Class B Common Stock 75K $15.26 Direct F7
holding TOST Restricted Stock Units Jan 28, 2022 Class B Common Stock 25K Direct F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares held by The Jonathan M. Grimm Trust.
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 Jonathan M. Grimm 2020 Grantor Retained Annuity Trust.
F4 Shares held by The Grimm Children GST-Exempt Irrevocable Trust FBO Grayson Grimm.
F5 Shares held by The Grimm Children GST-Exempt Irrevocable Trust FBO Lily Grimm.
F6 The shares subject to this option are fully vested and exercisable as of the date hereof.
F7 The shares subject to this option shall vest in twenty equal quarterly installments over five years following March 22, 2021.
F8 The Restricted Stock Units ("RSUs") shall vest as follows: 25% shall vest on April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.
F9 The RSUs convert into Class B Common Stock on a one-for-one basis upon vesting and settlement.

Remarks:

Exhibit 24 - Power of Attorney