Michael James Matlock - May 1, 2023 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
May 1, 2023
Transactions value $
-$104,522
Form type
4
Date filed
5/3/2023, 04:46 PM
Previous filing
Apr 18, 2023
Next filing
May 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 +15.6K +44.02% 51.1K May 1, 2023 Direct F1
transaction TOST Class A Common Stock Options Exercise +978 +1.91% 52.1K May 1, 2023 Direct F1
transaction TOST Class A Common Stock Sale -$105K -6.09K -11.69% $17.16 46K May 2, 2023 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 -15.6K -9.09% $0.00 156K May 1, 2023 Class A Common Stock 15.6K Direct F1, F3
transaction TOST Restricted Stock Units Options Exercise $0 -978 -8.33% $0.00 10.8K May 1, 2023 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.