Jonathan Grimm - 01 Apr 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
01 Apr 2022
Net transactions value
-$45,389
Form type
4
Filing time
05 Apr 2022, 20:43:26 UTC
Previous filing
17 Mar 2022
Next filing
03 May 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 Options Exercise +6,250 6,250 01 Apr 2022 Direct F1
transaction TOST Class A Common Stock Sale $45,389 -1,918 -31% $23.66 4,332 04 Apr 2022 Direct F2
holding TOST Class A Common Stock 3,084,674 01 Apr 2022 By The Jonathan M. Grimm 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 -6,250 -25% $0.000000 18,750 01 Apr 2022 Class A Common Stock 6,250 Direct F1, F3
transaction TOST Class B Common Stock Gift $0 -258,333 -13% $0.000000 1,781,667 25 Mar 2022 Class A Common Stock 258,333 By The Jonathan M. Grimm 2020 Grantor Retained Annuity Trust F4, F5
holding TOST Class B Common Stock 20,394,948 01 Apr 2022 Class A Common Stock 20,394,948 By The Jonathan M. Grimm Trust F4, F5
holding TOST Class B Common Stock 510,000 01 Apr 2022 Class A Common Stock 510,000 By The Grimm Children GST-Exempt Irrevocable Trust FBO Grayson Grimm F4
holding TOST Class B Common Stock 510,000 01 Apr 2022 Class A Common Stock 510,000 By The Grimm Children GST-Exempt Irrevocable Trust FBO Lily Grimm F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 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.
F5 Reflects 258,333 shares of Class B Common Stock transferred from The Jonathan M. Grimm 2020 Grantor Retained Annuity Trust to The Jonathan M. Grimm Trust in connection with an annual GRAT distribution.