Stephen Fredette - 01 Apr 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
01 Apr 2022
Net transactions value
-$45,295
Form type
4
Filing time
05 Apr 2022, 20:44:32 UTC
Previous filing
17 Mar 2022
Next filing
03 May 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 Options Exercise +6,250 +0.15% 4,309,022 01 Apr 2022 Direct F1
transaction TOST Class A Common Stock Sale $45,295 -1,914 -0.04% $23.66 4,307,108 04 Apr 2022 Direct F2
holding TOST Class A Common Stock 419,991 01 Apr 2022 By the SHFA Family Trust
holding TOST Class A Common Stock 2,303,442 01 Apr 2022 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 37,500 01 Apr 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 Restricted Stock Units Options Exercise $0 -6,250 -25% $0.000000 18,750 01 Apr 2022 Class A Common Stock 6,250 Direct F1, F3
* 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.

Remarks:

As of the date of this Form 4, the Reporting Person also owns an aggregate of 25,972,670 shares of the Class B common stock of the Issuer. Each share of Class B common stock is convertible at any time into one share of the Class A common stock of the Issuer.