Elena Gomez - Jul 1, 2024 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Chief Financial Officer
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Elena Gomez
Stock symbol
TOST
Transactions as of
Jul 1, 2024
Transactions value $
-$789,162
Form type
4
Date filed
7/3/2024, 04:35 PM
Previous filing
Jun 18, 2024
Next filing
Aug 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Options Exercise +23.4K +13.24% 200K Jul 1, 2024 Direct F1
transaction TOST Class A Common Stock Options Exercise +6.33K +3.16% 207K Jul 1, 2024 Direct F1
transaction TOST Class A Common Stock Options Exercise +6.32K +3.05% 213K Jul 1, 2024 Direct F1
transaction TOST Class A Common Stock Sale -$318K -12.5K -5.87% $25.43 201K Jul 1, 2024 Direct F2, F3
transaction TOST Class A Common Stock Sale -$471K -18.4K -9.16% $25.64 182K Jul 2, 2024 Direct 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 Restricted Stock Units Options Exercise $0 -23.4K -25% $0.00 70.3K Jul 1, 2024 Class A Common Stock 23.4K Direct F1, F5
transaction TOST Restricted Stock Units Options Exercise $0 -6.33K -8.33% $0.00 69.6K Jul 1, 2024 Class A Common Stock 6.33K Direct F1, F6
transaction TOST Restricted Stock Units Options Exercise $0 -6.32K -6.25% $0.00 94.7K Jul 1, 2024 Class A Common Stock 6.32K Direct F1, F7
* 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 The 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 December 14, 2023.
F3 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 $25.70, 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 as follows: 25% on April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.
F6 The RSUs shall vest in sixteen equal quarterly installments following April 1, 2023.
F7 The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.