4//SEC Filing
Bennett Richard Kent 4
Accession 0000950170-25-076513
CIK 0001650164other
Filed
May 21, 8:00 PM ET
Accepted
May 22, 6:11 PM ET
Size
10.2 KB
Accession
0000950170-25-076513
Insider Transaction Report
Form 4
Toast, Inc.TOST
Bennett Richard Kent
Director
Transactions
- Conversion
Class A Common Stock
2025-05-20+0→ 0 total(indirect: See footnotes) - Sale
Class A Common Stock
2025-05-20−0→ 0 total(indirect: See footnotes)
Holdings
- 543,879
Class A Common Stock
Footnotes (7)
- [F1]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.
- [F2]Represents 2,848,470 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX, L.P. ("Bessemer IX") and 2,282,059 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX Institutional, L.P. ("Bessemer Institutional", and together with Bessemer IX, the "Bessemer IX Funds").
- [F3]On May 20,2025, the Bessemer IX Funds distributed, for no consideration 5,066,396 shares (collectively, the "Shares"), of Class A Common Stock to their limited partners and to Deer IX L.P. ("Deer IX") representing each such partner's pro rata interest in such Shares. On the same date, one or more of such limited partner(s) distributed, for no consideration, the Shares to certain of its or their members in an amount equal to each such member's or members' respective pro rata interests in the Shares. Finally, on the same date, the Deer IX distributed, for no consideration, the Shares it received from the distributions to its partners in an amount equal to each such partner's pro rata interest in the Shares. All of the aforementioned distributions were made in accordance with the exemption afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.
- [F4]The Reporting Person is a partner at Bessemer Venture Partners and has an indirect, passive economic interest in the shares held by the Bessemer IX Funds by virtue of his interest in (1) Deer IX & Co. L.P., the general partner of the Bessemer IX Funds and (2) certain other indirect limited partnership interests in certain of the Bessemer Funds. The Reporting Person disclaims beneficial ownership of the securities held by the Bessemer IX Funds, except to the extent of his pecuniary interest, if any, in such securities by virtue of his indirect interest in the Bessemer IX Fund. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities.
- [F5]Includes 9,712 Class A Common Stock received by the Reporting Person related to equity grants issued by the Company. The Reporting Person has agreed to assign to DMC the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof.
- [F6]In service on the board of Toast, Inc., the Reporting Person has an obligation to turn over any compensation received to Deer Management Co. LLC ("DMC").
- [F7]Includes 148,173 shares of Class A Common Stock received by the Reporting Person in one or more pro rata distributions-in-kind from the Bessemer IX Funds and Deer IX on May 20, 2025, which distributions were made in accordance with the exemption afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended.
Documents
Issuer
Toast, Inc.
CIK 0001650164
Entity typeother
Related Parties
1- filerCIK 0001860725
Filing Metadata
- Form type
- 4
- Filed
- May 21, 8:00 PM ET
- Accepted
- May 22, 6:11 PM ET
- Size
- 10.2 KB