Jonathan Grimm - Apr 1, 2022 Form 4 Insider Report for Toast, Inc. (TOST)

Signature
/s/ Monica Kleinman, as Attorney-in-Fact
Stock symbol
TOST
Transactions as of
Apr 1, 2022
Transactions value $
-$45,389
Form type
4
Date filed
4/5/2022, 08:43 PM
Previous filing
Mar 17, 2022
Next filing
May 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Options Exercise +6.25K 6.25K Apr 1, 2022 Direct F1
transaction TOST Class A Common Stock Sale -$45.4K -1.92K -30.69% $23.67 4.33K Apr 4, 2022 Direct F2
holding TOST Class A Common Stock 3.08M Apr 1, 2022 By The Jonathan M. Grimm 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 Restricted Stock Units Options Exercise $0 -6.25K -25% $0.00 18.8K Apr 1, 2022 Class A Common Stock 6.25K Direct F1, F3
transaction TOST Class B Common Stock Gift $0 -258K -12.66% $0.00 1.78M Mar 25, 2022 Class A Common Stock 258K By The Jonathan M. Grimm 2020 Grantor Retained Annuity Trust F4, F5
holding TOST Class B Common Stock 20.4M Apr 1, 2022 Class A Common Stock 20.4M By The Jonathan M. Grimm Trust F4, F5
holding TOST Class B Common Stock 510K Apr 1, 2022 Class A Common Stock 510K By The Grimm Children GST-Exempt Irrevocable Trust FBO Grayson Grimm F4
holding TOST Class B Common Stock 510K Apr 1, 2022 Class A Common Stock 510K By The Grimm Children GST-Exempt Irrevocable Trust FBO Lily Grimm F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.
F2 Represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs, and does not represent a discretionary trade by the Reporting Person.
F3 The RSUs shall vest as follows: 25% on April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.
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.
F5 Reflects 258,333 shares of Class B Common Stock transferred from The Jonathan M. Grimm 2020 Grantor Retained Annuity Trust to The Jonathan M. Grimm Trust in connection with an annual GRAT distribution.