Jonathan Vassil - May 23, 2024 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Chief Revenue Officer
Signature
/s/ Xing Yan as Attorney-in-Fact for Jonathan Vassil
Stock symbol
TOST
Transactions as of
May 23, 2024
Transactions value $
-$1,263,440
Form type
4
Date filed
5/28/2024, 06:03 AM
Previous filing
May 3, 2024
Next filing
Jul 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 $26K +50K +185.89% $0.52* 76.9K May 23, 2024 Direct F1
transaction TOST Class A Common Stock Sale -$1.15M -44.8K -58.32% $25.72 32.1K May 23, 2024 Direct F1, F2
transaction TOST Class A Common Stock Sale -$136K -5.15K -16.08% $26.37 26.9K May 23, 2024 Direct F1, F3

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 Stock Option (Right to Buy) Options Exercise $0 -50K -20.23% $0.00 197K May 23, 2024 Class A Common Stock 50K $0.52 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 14, 2023.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.24 to $26.23, 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.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.25 to $26.78, 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 shares subject to this option are fully vested as of the date hereof.