Stephen Fredette - Jan 1, 2023 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Co-President, Director
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Stephen Fredette
Stock symbol
TOST
Transactions as of
Jan 1, 2023
Transactions value $
$0
Form type
4
Date filed
1/4/2023, 04:12 PM
Previous filing
Dec 19, 2022
Next filing
Jan 5, 2023

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% 3.79M Jan 1, 2023 Direct F1
holding TOST Class A Common Stock 37.5K Jan 1, 2023 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2.3M Jan 1, 2023 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 420K Jan 1, 2023 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 -9.98% $0.00 14.1K Jan 1, 2023 Class A Common Stock 1.56K Direct F1, F2
* 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 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.