Aman Narang - 03 Mar 2022 Form 4 Insider Report for Toast, Inc. (TOST)

Role
COO & Co-President, Director, 10%+ Owner
Signature
/s/ Monica Kleinman, as Attorney-in-Fact
Issuer symbol
TOST
Transactions as of
03 Mar 2022
Net transactions value
$0
Form type
4
Filing time
07 Mar 2022, 15:29:33 UTC
Previous filing
14 Feb 2022
Next filing
17 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Conversion of derivative security +1,475,000 +137% 2,547,738 03 Mar 2022 Direct F1, F2
transaction TOST Class A Common Stock Conversion of derivative security +15,075 15,075 03 Mar 2022 By the Narang Family Irrevocable Trust FBO Vijay and Madhu Narang F1, F2
transaction TOST Class A Common Stock Conversion of derivative security +170,000 170,000 03 Mar 2022 By the Narang Family Irrevocable Trust FBO Fitzgerald Family F1, F2
transaction TOST Class A Common Stock Conversion of derivative security +79,624 79,624 03 Mar 2022 By the Narang Family Irrevocable Trust FBO Varun Narang F1, F2
transaction TOST Class A Common Stock Conversion of derivative security +55,816 55,816 03 Mar 2022 By the Narang Family Irrevocable Trust FBO Lia Narang F1, F2
transaction TOST Class A Common Stock Conversion of derivative security +55,816 55,816 03 Mar 2022 By the Narang Family Irrevocable Trust FBO Noah Narang F1, F2

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 Conversion of derivative security $0 -1,475,000 -7.2% $0.000000 18,912,840 03 Mar 2022 Class A Common Stock 1,475,000 Direct F1, F2
transaction TOST Class B Common Stock Conversion of derivative security $0 -15,075 -100% $0.000000* 0 03 Mar 2022 Class A Common Stock 15,075 By the Narang Family Irrevocable Trust FBO Vijay and Madhu Narang F1, F2
transaction TOST Class B Common Stock Conversion of derivative security $0 -170,000 -100% $0.000000* 0 03 Mar 2022 Class A Common Stock 170,000 By the Narang Family Irrevocable Trust FBO Fitzgerald Family F1, F2
transaction TOST Class B Common Stock Conversion of derivative security $0 -79,624 -100% $0.000000* 0 03 Mar 2022 Class A Common Stock 79,624 By the Narang Family Irrevocable Trust FBO Varun Narang F1, F2
transaction TOST Class B Common Stock Conversion of derivative security $0 -55,816 -100% $0.000000* 0 03 Mar 2022 Class A Common Stock 55,816 By the Narang Family Irrevocable Trust FBO Lia Narang F1, F2
transaction TOST Class B Common Stock Conversion of derivative security $0 -55,816 -100% $0.000000* 0 03 Mar 2022 Class A Common Stock 55,816 By the Narang Family Irrevocable Trust FBO Noah Narang F1, F2
transaction TOST Restricted Stock Units Other $0 -25,000 -100% $0.000000* 0 03 Mar 2022 Class B Common Stock 25,000 Direct F1, F3, F4
transaction TOST Restricted Stock Units Other $0 +25,000 $0.000000 25,000 03 Mar 2022 Class A Common Stock 25,000 Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the voluntary conversion of Class B Common Stock into Class A Common Stock on a one-for-one basis.
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 In connection with the voluntary conversion described in footnote 1, the outstanding Restricted Stock Units ("RSUs") convertible into Class B Common Stock remain unchanged, except that the RSUs are now convertible into Class A Common Stock upon vesting and settlement.
F4 The RSUs shall vest as follows: 25% on April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.