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

Role
COO & Co-President, Director
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Aman Narang
Stock symbol
TOST
Transactions as of
Nov 1, 2022
Transactions value $
-$22,850
Form type
4
Date filed
11/3/2022, 05:00 PM
Previous filing
Oct 5, 2022
Next filing
Dec 30, 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 +0.14% 2.56M Nov 1, 2022 Direct F1
transaction TOST Class A Common Stock Sale -$22.8K -1.08K -0.04% $21.18 2.56M Nov 2, 2022 Direct F2
holding TOST Class A Common Stock 170K Nov 1, 2022 By the Narang Family Irrevocable Trust FBO Fitzgerald Family
holding TOST Class A Common Stock 55.8K Nov 1, 2022 By the Narang Family Irrevocable Trust FBO Lia Narang
holding TOST Class A Common Stock 79.6K Nov 1, 2022 By the Narang Family Irrevocable Trust FBO Varun Narang
holding TOST Class A Common Stock 55.8K Nov 1, 2022 By the Narang Family Irrevocable Trust FBO Noah Narang
holding TOST Class A Common Stock 15.1K Nov 1, 2022 By the Narang Family Irrevocable Trust FBO Vijay and Madhu 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 -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 18,912,840 shares of Class B common stock of the Issuer. Each Class B common stock is convertible at any time into one share of the Class A common stock of the Issuer.