Brian R. Elworthy - 01 Jul 2022 Form 4 Insider Report for Toast, Inc. (TOST)

Role: General Counsel
Signature: /s/ Monica Kleinman as Attorney-in-Fact for Brian R. Elworthy
Issuer symbol: TOST
Transactions as of: 01 Jul 2022
Net transactions value: -$18,993
Form type: 4
Filing time: 06 Jul 2022, 16:44:37 UTC
Previous filing: 05 May 2022
Next filing: 03 Aug 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		+5,000	+1.1%		440,921	01 Jul 2022	Direct	F1
transaction	TOST	Class A Common Stock	Sale	$18,993	-1,372	-0.31%	$13.84	439,549	05 Jul 2022	Direct	F2
holding	TOST	Class A Common Stock						103,736	01 Jul 2022	By the Brian R. Elworthy Irrevocable Trust of 2019

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	-5,000	-25%	$0.000000	15,000	01 Jul 2022	Class A Common Stock	5,000		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 July 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.