Stephen Fredette - 01 Oct 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 Oct 2024
Net transactions value
-$153,013
Form type
4
Filing time
03 Oct 2024, 16:57:00 UTC
Previous filing
01 Oct 2024
Next filing
10 Oct 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 +1,565 +0.09% 1,835,631 01 Oct 2024 Direct F1
transaction TOST Class A Common Stock Options Exercise +5,697 +0.31% 1,841,328 01 Oct 2024 Direct F1
transaction TOST Class A Common Stock Options Exercise +5,651 +0.31% 1,846,979 01 Oct 2024 Direct F1
transaction TOST Class A Common Stock Sale $153,013 -5,511 -0.3% $27.76 1,841,468 02 Oct 2024 Direct F2
holding TOST Class A Common Stock 177,500 01 Oct 2024 By the Fredette Family Nominee Trust
holding TOST Class A Common Stock 2,303,442 01 Oct 2024 By the SHFA 2021 Nominee Trust
holding TOST Class A Common Stock 419,991 01 Oct 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 -1,565 -33% $0.000000 3,125 01 Oct 2024 Class A Common Stock 1,565 Direct F1, F3
transaction TOST Restricted Stock Units Options Exercise $0 -5,697 -9.1% $0.000000 56,975 01 Oct 2024 Class A Common Stock 5,697 Direct F1, F4
transaction TOST Restricted Stock Units Options Exercise $0 -5,651 -6.7% $0.000000 79,119 01 Oct 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.