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

Role
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, 15:34:16 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 +1,336,616 +45% 4,279,485 03 Mar 2022 Direct F1, F2
transaction TOST Class A Common Stock Conversion of derivative security +227,448 +118% 419,991 03 Mar 2022 By the SHFA Family Trust F1, F2
transaction TOST Class A Common Stock Conversion of derivative security +1,314,577 +130% 2,326,729 03 Mar 2022 By the SHFA 2021 Nominee Trust F1, F2
holding TOST Class A Common Stock 37,500 03 Mar 2022 By the Fredette Family Nominee Trust

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 -1,336,616 -6.5% $0.000000 19,173,555 03 Mar 2022 Class A Common Stock 1,336,616 Direct F1, F2
transaction TOST Class B Common Stock Conversion of derivative security $0 -227,448 -13% $0.000000 1,580,009 03 Mar 2022 Class A Common Stock 227,448 By the SHFA Family Trust F1, F2
transaction TOST Class B Common Stock Conversion of derivative security $0 -1,314,577 -23% $0.000000 4,506,606 03 Mar 2022 Class A Common Stock 1,314,577 By the SHFA 2021 Nominee Trust 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
holding TOST Class B Common Stock 712,500 03 Mar 2022 Class A Common Stock 712,500 By the Fredette Family Nominee Trust F2
* 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.