Jonathan Grimm - 03 Mar 2022 Form 4 Insider Report for Toast, Inc. (TOST)

Role
Chief Technology Officer, 10%+ Owner
Signature
/s/ Monica Kleinman, as Attorney-in-Fact
Issuer symbol
TOST
Transactions as of
03 Mar 2022
Net transactions value
$0
Form type
4
Filing time
07 Mar 2022, 15:31:21 UTC
Previous filing
07 Feb 2022
Next filing
17 Mar 2022
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 Conversion of derivative security +1,400,000 +83% 3,084,674 03 Mar 2022 By The Jonathan M. Grimm Trust F1, F2

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 -1,400,000 -6.5% $0.000000 20,136,615 03 Mar 2022 Class A Common Stock 1,400,000 By The Jonathan M. Grimm Trust F1, F2
transaction TOST Restricted Stock Units Other $0 -25,000 -100% $0.000000* 0 03 Mar 2022 Class B Common Stock 25,000 Direct F1, F3, F4
transaction TOST Restricted Stock Units Other $0 +25,000 $0.000000 25,000 03 Mar 2022 Class A Common Stock 25,000 Direct F1, F3, F4
holding TOST Class B Common Stock 2,040,000 03 Mar 2022 Class A Common Stock 2,040,000 By The Jonathan M. Grimm 2020 Grantor Retained Annuity Trust F2
holding TOST Class B Common Stock 510,000 03 Mar 2022 Class A Common Stock 510,000 By The Grimm Children GST-Exempt Irrevocable Trust FBO Grayson Grimm F2
holding TOST Class B Common Stock 510,000 03 Mar 2022 Class A Common Stock 510,000 By The Grimm Children GST-Exempt Irrevocable Trust FBO Lily Grimm F2
* 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 into Class A Common Stock on a one-for-one basis.
F2 Each outstanding share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the holder or automatically upon the occurrence of other events set forth in the Issuer's certificate of incorporation.
F3 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.
F4 The RSUs shall vest as follows: 25% on April 1, 2022, with the remainder vesting in equal quarterly installments over the following three years.