Stephen Fredette - 01 Jul 2024 Form 4 Insider Report for Toast, Inc. (TOST)

Role
President, Director
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Stephen Fredette
Issuer symbol
TOST
Transactions as of
01 Jul 2024
Net transactions value
-$97,696
Form type
4
Filing time
03 Jul 2024, 16:38:01 UTC
Previous filing
12 Jun 2024
Next filing
05 Aug 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Options Exercise +1,560 +0.05% 2,839,776 01 Jul 2024 Direct F1
transaction TOST Class A Common Stock Options Exercise +5,698 +0.2% 2,845,474 01 Jul 2024 Direct F1
transaction TOST Class A Common Stock Options Exercise +5,651 +0.2% 2,851,125 01 Jul 2024 Direct F1
transaction TOST Class A Common Stock Sale $97,696 -3,810 -0.13% $25.64 2,847,315 02 Jul 2024 Direct F2
holding TOST Class A Common Stock 177,500 01 Jul 2024 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2,303,442 01 Jul 2024 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 419,991 01 Jul 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 -1,560 -25% $0.000000 4,690 01 Jul 2024 Class A Common Stock 1,560 Direct F1, F3
transaction TOST Restricted Stock Units Options Exercise $0 -5,698 -8.3% $0.000000 62,672 01 Jul 2024 Class A Common Stock 5,698 Direct F1, F4
transaction TOST Restricted Stock Units Options Exercise $0 -5,651 -6.2% $0.000000 84,770 01 Jul 2024 Class A Common Stock 5,651 Direct F1, F5
* 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.
F5 The RSUs shall vest in sixteen equal quarterly installments following April 1, 2024.

Remarks:

As of the date of this Form 4, the Reporting Person also owns an aggregate of 25,722,670 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.