Toast, Inc. — Director's Dealing 2022

Feb 1, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Toast, Inc. (TOST)
CIK: 0001650164
Period of Report: 2022-01-27

Reporting Person: HMI Capital Management, L.P. (10% Owner)
Reporting Person: HMI Capital Partners, L.P. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-01-27	Class A Common Stock	P	307465	$19.8604	Acquired	10637040	Indirect
2022-01-27	Class A Common Stock	P	20847	$19.8604	Acquired	10657887	Indirect
2022-01-28	Class A Common Stock	P	364954	$19.9773	Acquired	11022841	Indirect
2022-01-28	Class A Common Stock	P	24745	$19.9773	Acquired	11047586	Indirect

Footnotes

F1: Directly held by HMI Capital Partners, L.P. ("HMI Capital Partners").

F2: Directly held by Merckx Capital Partners, L.P. ("Merckx").

F3: HMI Capital Management, L.P. ("HMI") serves as the investment advisor to HMI Capital Partners and Merckx. HMI Capital Fund GP, LLC ("GP LLC") serves as the general partner of HMI Capital Partners and Merckx. Members GP, LLC serves as the general partner of HMI. Mr. Marco W. Hellman, Mr. Justin C. Nyweide, Mr. Sean M. Barrett, and Mr. Radhakrishnan Raman Mahendran are the investment committee members of HMI. Because of their relationship with HMI Capital Partners and Merckx, each of HMI, GP LLC, Members GP, LLC, Mr. Marco W. Hellman, Mr. Justin C. Nyweide, Mr. Sean M. Barrett, and Mr. Radhakrishnan Raman Mahendran may be deemed to beneficially own securities reported herein.

F4: HMI Capital Partners, Merckx, HMI, HMI Capital Fund GP, LLC, Members GP, LLC, Mr. Marco W. Hellman, Mr. Justin C. Nyweide, Mr. Sean M. Barrett, and Mr. Radhakrishnan Raman Mahendran expressly disclaim beneficial ownership over any of the securities reported herein except to the extent of their pecuniary interest therein, if any. The filing of this statement shall not be construed as an admission that HMI Capital Partners, Merckx, HMI, HMI Capital Fund GP, LLC, Members GP, LLC, Mr. Marco W. Hellman, Mr. Justin C. Nyweide, Mr. Sean M. Barrett, or Mr. Radhakrishnan Raman Mahendran are the beneficial owners of any of the securities reported herein.