Michael James Matlock - Nov 1, 2022 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Principal Accounting Officer
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Michael James Matlock
Stock symbol
TOST
Transactions as of
Nov 1, 2022
Transactions value $
-$550,411
Form type
4
Date filed
11/3/2022, 05:04 PM
Previous filing
Aug 3, 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 +62.5K +5135.58% 63.7K Nov 1, 2022 Direct F1
transaction TOST Class A Common Stock Options Exercise +978 +1.53% 64.7K Nov 1, 2022 Direct F1
transaction TOST Class A Common Stock Sale -$550K -26K -40.17% $21.18 38.7K Nov 2, 2022 Direct F2

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 -62.5K -25% $0.00 188K Nov 1, 2022 Class A Common Stock 62.5K $0.00 Direct F1, F3
transaction TOST Restricted Stock Units Options Exercise $0 -978 -7.14% $0.00 12.7K Nov 1, 2022 Class A Common Stock 978 Direct F1, F4
* 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% shall vest on November 1, 2022, with the remainder vesting in equal quarterly installments of 6.25% over the following three years.
F4 The RSUs shall vest in sixteen equal quarterly installments following February 1, 2022.