Christopher P. Comparato - Jun 20, 2023 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Chief Executive Officer, Director
Signature
/s/ Monica Kleinman, as Attorney-in-Fact for Christopher P. Comparato
Stock symbol
TOST
Transactions as of
Jun 20, 2023
Transactions value $
-$193,461
Form type
4
Date filed
6/21/2023, 04:05 PM
Previous filing
May 22, 2023
Next filing
Jun 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Conversion of derivative security +375K +737.96% 426K Jun 20, 2023 Direct F1, F2
transaction TOST Class A Common Stock Sale -$193K -8.95K -2.1% $21.62 417K Jun 20, 2023 Direct F3, F4

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 Class B Common Stock Conversion of derivative security $0 -375K -15.85% $0.00 1.99M Jun 20, 2023 Class A Common Stock 375K Direct F1, F2
holding TOST Class B Common Stock 200K Jun 20, 2023 Class A Common Stock 200K EAC Irrevocable Trust F2
holding TOST Class B Common Stock 200K Jun 20, 2023 Class A Common Stock 200K CEC Irrevocable Trust F2
holding TOST Class B Common Stock 200K Jun 20, 2023 Class A Common Stock 200K SCC Irrevocable Trust F2
holding TOST Class B Common Stock 6.42M Jun 20, 2023 Class A Common Stock 6.42M By the Comparato Family Holdings Trust dated July 27, 2018 F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the voluntary conversion of Class B Common Stock into Class A Common Stock on a one-for-one basis.
F2 Each outstanding share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the holder or automatically upon the occurrence of other events set forth in the Issuer's certificate of incorporation.
F3 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 24, 2023.
F4 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.36 to $22.12, 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.

Remarks:

As of the date of this Form 4, the Reporting Person also owns an aggregate of 9,008,280 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.