Aman Narang - 01 Feb 2023 Form 4 Insider Report for Toast, Inc. (TOST)

Role
COO & Co-President, Director
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Aman Narang
Issuer symbol
TOST
Transactions as of
01 Feb 2023
Net transactions value
-$2,819,037
Form type
4
Filing time
03 Feb 2023, 15:45:42 UTC
Previous filing
05 Jan 2023
Next filing
16 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Options Exercise +3,521 +0.18% 1,966,309 01 Feb 2023 Direct F1
transaction TOST Class A Common Stock Sale $2,329,659 -104,469 -5.3% $22.30 1,861,840 01 Feb 2023 Direct F2, F3
transaction TOST Class A Common Stock Sale $462,123 -20,014 -1.1% $23.09 1,841,826 01 Feb 2023 Direct F2, F4
transaction TOST Class A Common Stock Sale $27,255 -1,126 -0.06% $24.20 1,840,700 02 Feb 2023 Direct F5
holding TOST Class A Common Stock 9,109 01 Feb 2023 The Narang 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 -3,521 -7.7% $0.000000 42,252 01 Feb 2023 Class A Common Stock 3,521 $0.000000 Direct F1, F6
* 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 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 14, 2022.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.02 to $23.01, 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 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.015 to $23.20, 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.
F5 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.
F6 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.