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

Role: Chief Technology Officer, 10%+ Owner
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.