Aman Narang - 28 Dec 2022 Form 4 Insider Report for Toast, Inc. (TOST)

Signature
/s/ Monica Kleinman as Attorney-in-Fact for Aman Narang
Issuer symbol
TOST
Transactions as of
28 Dec 2022
Net transactions value
-$12,026,264
Form type
4
Filing time
30 Dec 2022, 16:30:02 UTC
Previous filing
03 Nov 2022
Next filing
04 Jan 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Gift $0 -600,000 -23% $0.000000 1,961,769 14 Dec 2022 Direct F1
transaction TOST Class A Common Stock Gift $0 +600,000 $0.000000 600,000 14 Dec 2022 The Narang Family Trust F1
transaction TOST Class A Common Stock Sale $9,871,731 -583,091 -97% $16.93 16,909 28 Dec 2022 The Narang Family Trust F2, F3
transaction TOST Class A Common Stock Sale $242,889 -13,449 -24% $18.06 42,367 29 Dec 2022 By the Narang Family Irrevocable Trust FBO Noah Narang F4, F5
transaction TOST Class A Common Stock Sale $240,938 -13,341 -24% $18.06 42,475 29 Dec 2022 By the Narang Family Irrevocable Trust FBO Lia Narang F4, F6
transaction TOST Class A Common Stock Sale $139,308 -7,800 -46% $17.86 9,109 30 Dec 2022 The Narang Family Trust F2, F7
transaction TOST Class A Common Stock Sale $764,724 -42,367 -100% $18.05 0 30 Dec 2022 By the Narang Family Irrevocable Trust FBO Noah Narang F4, F8
transaction TOST Class A Common Stock Sale $766,674 -42,475 -100% $18.05 0 30 Dec 2022 By the Narang Family Irrevocable Trust FBO Lia Narang F4, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 14, 2022, the Reporting Person made a bona fide gift of 600,000 shares of the Issuer's Class A Common Stock with no payment in consideration.
F2 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 15, 2022.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.75 to $17.17, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
F4 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on November 14, 2022.
F5 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18 to $18.18, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
F6 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18 to $18.17, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
F7 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.63 to $18.11, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
F8 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.00 to $18.12, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.
F9 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.00 to $18.13, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this price range set forth in this footnote.

Remarks:

The Reporting Person does not have a reportable beneficial interest in the shares of Class A Common Stock held by The Narang Family Irrevocable Trust FBO Fitzgerald Family, The Narang Family Irrevocable Trust FBO Varun Narang, or The Narang Family Irrevocable Trust FBO Vijay and Madhu Narang previously included in the ownership reports of the Reporting Person and accordingly such shares are not included in Table I of this Form 4. 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.