Toast, Inc. — Director's Dealing 2022

May 4, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Toast, Inc. (TOST)
CIK: 0001650164
Period of Report: 2022-05-01

Reporting Person: Grimm Jonathan (Chief Technology Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-01	Class A Common Stock	M	3521	—	Acquired	7853	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-05-01	Restricted Stock Units	$	M	3521	Disposed		Class A Common Stock (3521)	Direct
2022-04-13	Class B Common Stock	$	G	36452	Disposed		Class A Common Stock (36452)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	3084674	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock (20431400)	20431400	Indirect
Class B Common Stock	$		Class A Common Stock (510000)	510000	Indirect
Class B Common Stock	$		Class A Common Stock (510000)	510000	Indirect

Footnotes

F1: Restricted Stock Units ("RSUs") convert into Class A Common Stock on a one-for-one basis upon vesting and settlement.

F2: The RSUs shall vest in sixteen equal quarterly installments following February 1, 2022.

F3: 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.

F4: Reflects 36,452 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.