Stephen Fredette - Jul 1, 2022 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Co-President, Director, 10%+ Owner
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Stephen Fredette
Stock symbol
TOST
Transactions as of
Jul 1, 2022
Transactions value $
-$5,939
Form type
4
Date filed
7/6/2022, 04:47 PM
Previous filing
May 5, 2022
Next filing
Aug 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 +1.56K +0.04% 4.31M Jul 1, 2022 Direct F1
transaction TOST Class A Common Stock Sale -$5.94K -429 -0.01% $13.84 4.31M Jul 5, 2022 Direct F2
holding TOST Class A Common Stock 37.5K Jul 1, 2022 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2.3M Jul 1, 2022 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 420K Jul 1, 2022 By the SHFA Family 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 -1.56K -8.32% $0.00 17.2K Jul 1, 2022 Class A Common Stock 1.56K 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.