Aman Narang - Aug 1, 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
Stock symbol
TOST
Transactions as of
Aug 1, 2023
Transactions value $
-$2,720,057
Form type
4
Date filed
8/3/2023, 04:27 PM
Previous filing
Jul 14, 2023
Next filing
Sep 19, 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 +0.23% 1.52M Aug 1, 2023 Direct F1
transaction TOST Class A Common Stock Sale -$2.7M -125K -8.21% $21.66 1.39M Aug 1, 2023 Direct F2, F3
transaction TOST Class A Common Stock Sale -$22.8K -1.1K -0.08% $20.74 1.39M Aug 2, 2023 Direct F4
holding TOST Class A Common Stock 9.11K Aug 1, 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 -3.52K -9.09% $0.00 35.2K Aug 1, 2023 Class A Common Stock 3.52K Direct F1, F5
* 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 $21.505 to $21.88, 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 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.
F5 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.