Brian R. Elworthy - Oct 27, 2021 Form 4 Insider Report for Toast, Inc. (TOST)

Role
General Counsel
Signature
/s/ Monica Kleinman as Attorney-in-Fact for Brian R. Elworthy
Stock symbol
TOST
Transactions as of
Oct 27, 2021
Transactions value $
$0
Form type
4
Date filed
10/29/2021, 04:02 PM
Previous filing
Sep 27, 2021
Next filing
Feb 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOST Class A Common Stock Conversion of derivative security $0 +429K $0.00 429K Oct 27, 2021 Direct
transaction TOST Class A Common Stock Conversion of derivative security $0 +109K $0.00 109K Oct 27, 2021 By the Brian R. Elworthy Grantor Retained Annuity Trust of 2019

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 Class B Common Stock Conversion of derivative security $0 -429K -100% $0.00* 0 Oct 27, 2021 Class A Common Stock 429K Direct F1
transaction TOST Class B Common Stock Conversion of derivative security $0 -109K -100% $0.00* 0 Oct 27, 2021 Class A Common Stock 109K By the Brian R. Elworthy Grantor Retained Annuity Trust of 2019 F1
transaction TOST Stock Option (Right to Buy) Other $0 -375K -100% $0.00* 0 Oct 27, 2021 Class B Common Stock 375K $1.52 Direct F1, F2, F3
transaction TOST Stock Option (Right to Buy) Other $0 +375K $0.00 375K Oct 27, 2021 Class A Common Stock 375K $1.52 Direct F1, F2, F3
transaction TOST Stock Option (Right to Buy) Other $0 -450K -100% $0.00* 0 Oct 27, 2021 Class B Common Stock 450K $2.21 Direct F1, F2, F4
transaction TOST Stock Option (Right to Buy) Other $0 +450K $0.00 450K Oct 27, 2021 Class A Common Stock 450K $2.21 Direct F1, F2, F4
transaction TOST Stock Option (Right to Buy) Other $0 -60K -100% $0.00* 0 Oct 27, 2021 Class B Common Stock 60K $20.95 Direct F1, F2, F5
transaction TOST Stock Option (Right to Buy) Other $0 +60K $0.00 60K Oct 27, 2021 Class A Common Stock 60K $20.95 Direct F1, F2, F5
transaction TOST Restricted Stock Units Other $0 -20K -100% $0.00* 0 Oct 27, 2021 Class B Common Stock 20K Direct F1, F6, F7
transaction TOST Restricted Stock Units Other $0 +20K $0.00 20K Oct 27, 2021 Class A Common Stock 20K Direct F1, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the voluntary conversion of Class B Common Stock on a one-for-one basis.
F2 In connection with the voluntary conversion described in footnote 1, the outstanding options to purchase shares of Class B Common Stock remain unchanged, except that they now represent the option to purchase Class A Common Stock.
F3 The shares subject to this option shall vest in twenty equal quarterly installments over five years following July 1, 2018.
F4 The shares subject to this option shall vest in twenty equal quarterly installments over five years following April 21, 2020.
F5 The shares subject to this option shall vest in twenty equal quarterly installments over five years following June 2, 2021.
F6 In connection with the voluntary conversion described in footnote 1, the outstanding Restricted Stock Units ("RSUs") convertible into Class B Common Stock remain unchanged, except that the RSUs are now convertible into Class A Common Stock upon vesting and settlement.
F7 The RSUs shall vest as follows: 25% shall vest on July 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.