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

Role
COO & Co-President, Director, 10%+ Owner
Signature
/s/ Monica Kleinman, as Attorney-in-Fact
Stock symbol
TOST
Transactions as of
Apr 1, 2022
Transactions value $
-$44,869
Form type
4
Date filed
4/5/2022, 08:50 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 +0.25% 2.55M Apr 1, 2022 Direct F1
transaction TOST Class A Common Stock Sale -$44.9K -1.9K -0.07% $23.67 2.55M Apr 4, 2022 Direct F2
holding TOST Class A Common Stock 15.1K Apr 1, 2022 By the Narang Family Irrevocable Trust FBO Vijay and Madhu Narang
holding TOST Class A Common Stock 170K Apr 1, 2022 By the Narang Family Irrevocable Trust FBO Fitzgerald Family
holding TOST Class A Common Stock 79.6K Apr 1, 2022 By the Narang Family Irrevocable Trust FBO Varun Narang
holding TOST Class A Common Stock 55.8K Apr 1, 2022 By the Narang Family Irrevocable Trust FBO Lia Narang
holding TOST Class A Common Stock 55.8K Apr 1, 2022 By the Narang Family Irrevocable Trust FBO Noah Narang

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
* 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 18,912,840 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.