Stephen Fredette - Apr 1, 2024 Form 4 Insider Report for Toast, Inc. (TOST)

Role
President, Director
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Stephen Fredette
Stock symbol
TOST
Transactions as of
Apr 1, 2024
Transactions value $
-$53,156
Form type
4
Date filed
4/3/2024, 04:53 PM
Previous filing
Mar 12, 2024
Next filing
May 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Options Exercise +1.57K +0.06% 2.83M Apr 1, 2024 Direct F1
transaction TOST Class A Common Stock Options Exercise +5.7K +0.2% 2.84M Apr 1, 2024 Direct F1
transaction TOST Class A Common Stock Sale -$53.2K -2.27K -0.08% $23.40 2.84M Apr 2, 2024 Direct F2
holding TOST Class A Common Stock 37.5K Apr 1, 2024 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2.3M Apr 1, 2024 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 420K Apr 1, 2024 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 -1.57K -20.03% $0.00 6.25K Apr 1, 2024 Class A Common Stock 1.57K Direct F1, F3
transaction TOST Restricted Stock Units Options Exercise $0 -5.7K -7.69% $0.00 68.4K Apr 1, 2024 Class A Common Stock 5.7K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The 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% on April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.
F4 The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.

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.