0000950170-24-130306.txt : 20241122 0000950170-24-130306.hdr.sgml : 20241122 20241122174316 ACCESSION NUMBER: 0000950170-24-130306 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20241120 FILED AS OF DATE: 20241122 DATE AS OF CHANGE: 20241122 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Bennett Richard Kent CENTRAL INDEX KEY: 0001860725 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40819 FILM NUMBER: 241491136 MAIL ADDRESS: STREET 1: 1865 PALMER AVENUE STREET 2: SUITE 104 CITY: LARCHMONT STATE: NY ZIP: 10538 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Toast, Inc. CENTRAL INDEX KEY: 0001650164 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] ORGANIZATION NAME: 06 Technology IRS NUMBER: 454168768 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 333 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-297-1005 MAIL ADDRESS: STREET 1: 333 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 4 1 ownership.xml 4 X0508 4 2024-11-20 0001650164 Toast, Inc. TOST 0001860725 Bennett Richard Kent TOAST, INC. 333 SUMMER STREET BOSTON MA 02210 true false false false false Class A Common Stock 2024-11-20 4 S false 22885 41.96 D 395706 D Class A Common Stock 2024-11-20 4 C false 0 0 A 0 I See footnotes Class A Common Stock 2024-11-20 4 S false 0 0 D 0 I See footnotes Class A Common Stock 2024-11-21 4 S false 0 0 D 0 I See footnotes Class B Common Stock 2024-11-20 4 C false 0 0 D Class A Common Stock 0 0 I See footnotes On November 20, 2024, the Reporting Person sold 22,885 shares of Class A common stock of Toast, Inc, at a weighted average price of $41.96. These shares were sold in multiple transactions at prices ranging from $41.95 to $42.00. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information the number of shares sold at each separate price within the ranges set forth in this footnote. 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"). 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, Bessemer Venture Partners Century Fund L.P. ("Bessemer Century"), and Bessemer Venture Partners Century Fund Institutional L.P. ("Bessemer Century Institutional", and together with Bessemer Century, the "Bessemer Century Funds") by virtue of his interest in (1) Deer IX & Co. L.P., the general partner of the Bessemer IX Funds, and (2) Deer X & Co. L.P., the general partner of the Bessemer Century Funds and (3) 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 and the Bessemer Century Funds, except to the extent of his pecuniary interest, if any, in such securities by virtue of his indirect interest in the Bessemer IX Funds and Bessemer Century Funds. (Continued from footnote 3) This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities. 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. Represents 151,756 shares converted from Class B Common Stock to Class A Common Stock by Bessemer IX, 178,280 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Institutional as well as 60,199 shares converted from Class B Common Stock to Class A common Stock by Bessemer Century and 379,849 shares converted from Class B Common Stock to Class A common Stock Bessemer Century Institutional. 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. On November 20, 2024, Bessemer IX, Bessemer Institutional, Bessmer Century, and Bessemer Century Institutional sold 29,003, 117,842, 57,891, and 365,285 shares of Class A common stock of Toast, Inc, respectively, at a weighted average price of $42.32. These shares were sold in multiple transactions at prices ranging from $42.00 to $42.57. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information the number of shares sold at each separate price within the ranges set forth in this footnote. On November 21, 2024, Bessemer IX, Bessemer Institutional, Bessmer Century, and Bessemer Century Institutional sold 122,753, 60,438, 2,308, and 14,564 shares of Class A common stock of Toast, Inc, respectively, at a weighted average price of $42.54. These shares were sold in multiple transactions at prices ranging from $42.01 to $42.82. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information the number of shares sold at each separate price within the ranges set forth in this footnote. As of the date hereof, Bessemer IX and Bessemer Institutional own 2,848,469 shares of Class B Common Stock and 2,282,060 shares of Class B Common Stock, respectively. /s/ Kent Bennett 2024-11-22