Stephen Fredette - Nov 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
Nov 1, 2022
Transactions value $
-$22,850
Form type
4
Date filed
11/3/2022, 04:58 PM
Previous filing
Oct 5, 2022
Next filing
Dec 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Options Exercise +3.52K +0.08% 4.32M Nov 1, 2022 Direct F1
transaction TOST Class A Common Stock Sale -$22.8K -1.08K -0.02% $21.18 4.32M Nov 2, 2022 Direct F2
holding TOST Class A Common Stock 37.5K Nov 1, 2022 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2.3M Nov 1, 2022 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 420K Nov 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 -3.52K -7.14% $0.00 45.8K Nov 1, 2022 Class A Common Stock 3.52K $0.00 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 in sixteen equal quarterly installments following February 1, 2022.

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.