Stephen Fredette - Feb 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
Feb 1, 2023
Transactions value $
-$27,231
Form type
4
Date filed
2/3/2023, 03:39 PM
Previous filing
Jan 25, 2023
Next filing
Feb 16, 2023

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 +0.1% 3.66M Feb 1, 2023 Direct F1
transaction TOST Class A Common Stock Sale -$27.2K -1.13K -0.03% $24.21 3.66M Feb 2, 2023 Direct F2
holding TOST Class A Common Stock 37.5K Feb 1, 2023 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2.3M Feb 1, 2023 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 420K Feb 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 -3.52K -7.69% $0.00 42.3K Feb 1, 2023 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.