Sec Form 4 Filing - Bessemer Venture Partners IX L.P. @ Toast, Inc. - 2021-09-24

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Bessemer Venture Partners IX L.P. 2. Issuer Name and Ticker or Trading Symbol Toast, Inc. [ TOST] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O BESSEMER VENTURE PARTNERS, 1865 PALMER AVENUE, SUITE 104 3. Date of Earliest Transaction (MM/DD/YY) 09/24/2021 (Street) LARCHMONT, NY10538 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/24/2021 C( 1 ) 54,732,930 D 59,604,655 I See footnotes ( 2 ) ( 4 ) ( 5 ) Common Stock 09/24/2021 J( 6 ) 59,604,655 D 0 I See footnotes ( 3 ) ( 4 ) ( 5 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Series B Preferred Stock ( 1 ) 09/24/2021 C( 1 ) 41,283,745 ( 1 ) ( 1 ) Common Stock 41,283,745 $ 0 0 I See footnotes ( 4 ) ( 5 ) ( 8 ) Series C Preferred Stock ( 1 ) 09/24/2021 C( 1 ) 2,904,205 ( 1 ) ( 1 ) Common Stock 2,904,205 $ 0 0 I See footnotes ( 4 ) ( 5 ) ( 9 ) Series D Preferred Stock ( 1 ) 09/24/2021 C( 1 ) 2,551,105 ( 1 ) ( 1 ) Common Stock 2,551,105 $ 0 0 I See footnotes ( 4 ) ( 5 ) ( 10 ) Series E Preferred Stock ( 1 ) 09/24/2021 C( 1 ) 293,040 ( 1 ) ( 1 ) Common Stock 293,040 $ 0 0 I See footnotes ( 4 ) ( 5 ) ( 11 ) Series F Preferred Stock ( 1 ) 09/24/2021 C( 1 ) 7,700,835 ( 1 ) ( 1 ) Common Stock 7,700,835 $ 0 0 I See footnotes ( 4 ) ( 5 ) ( 12 ) Class B Common Stock ( 7 ) 09/24/2021 J( 6 ) 59,604,655 ( 7 ) ( 7 ) Class A Common Stock 59,604,655 $ 0 59,604,655 I See footnotes ( 4 ) ( 5 ) ( 13 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Bessemer Venture Partners IX L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT, NY10538 X Bessemer Venture Partners IX Institutional L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT, NY10538 X Deer IX & Co. Ltd. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVE., SUITE 104 LARCHMONT, NY10538 X Deer IX & Co. L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT, NY10538 X Bessemer Venture Partners Century Fund L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT, NY10538 X Bessemer Venture Partners Century Fund Institutional L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT, NY10538 X Deer X & Co. Ltd. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT, NY10538 X Deer X & Co. L.P. C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE, SUITE 104 LARCHMONT, NY10538 X Signatures /s/ Scott Ring, General Counsel, Deer IX & Co. Ltd., the General Partner of Deer IX & Co. L.P., the General Partner of Bessemer Venture Partners IX L.P. 09/27/2021 Signature of Reporting Person Date /s/ Scott Ring, General Counsel, Deer IX & Co. Ltd., the General Partner of Deer IX & Co. L.P., the General Partner of Bessemer Venture Partners IX Institutional L.P. 09/27/2021 Signature of Reporting Person Date /s/ Scott Ring, General Counsel, Deer X & Co. Ltd., the General Partner of Deer X & Co. L.P., the General Partner of Bessemer Venture Partners Century Fund L.P. 09/27/2021 Signature of Reporting Person Date /s/ Scott Ring, General Counsel, Deer X & Co. Ltd., the General Partner of Deer X & Co. L.P., the General Partner of Bessemer Venture Partners Century Fund Institutional L.P. 09/27/2021 Signature of Reporting Person Date /s/ Scott Ring, General Counsel, Deer IX & Co. Ltd., the General Partner of Deer IX & Co. L.P. 09/27/2021 Signature of Reporting Person Date /s/ Scott Ring, General Counsel, Deer IX & Co. Ltd. 09/27/2021 Signature of Reporting Person Date /s/ Scott Ring, General Counsel, Deer X & Co. Ltd., the General Partner of Deer X & Co. L.P. 09/27/2021 Signature of Reporting Person Date /s/ Scott Ring, General Counsel, Deer X & Co. Ltd. 09/27/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Immediately prior to the completion of the Issuer's initial public offering, each share of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock (together, the "Preferred Stock") automatically converted into one share of the Issuer's Common Stock. The Preferred Stock had no expiration date. ( 2 )After giving effect to the reported conversion, Bessemer Venture Partners IX, L.P. ("Bessemer IX"), Bessemer Venture Partners IX Institutional, L.P. ("Bessemer Institutional, and together with Bessemer IX, 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") own 30,649,360 shares of Common Stock, 24,554,820 shares of Common Stock, 3,798,490 shares of Common Stock and 601,985 shares of Common Stock, respectively. ( 3 )As of the date hereof, Bessemer IX, Bessemer Institutional, Bessemer Century and Bessemer Century Institutional each own 0 shares of Common Stock. ( 4 )Deer IX & Co. Ltd. ("Deer IX Ltd.") is the general partner of Deer IX & Co. L.P. ("Deer IX L.P."), which is the general partner of each of the Bessemer IX Funds. Deer IX Ltd. and Deer IX L.P. disclaim beneficial ownership of the securities held by the Bessemer IX Funds, and this report shall not be deemed an admission that Deer IX Ltd. and Deer IX L.P. are the beneficial owners of such securities, except to the extent of their pecuniary interest therein, if any, by virtue of their direct and indirect general partner interests in the Bessemer IX Funds. ( 5 )Deer X & Co. Ltd. ("Deer X Ltd.") is the general partner of Deer X & Co. L.P. ("Deer X L.P."), which is the general partner of each of the Bessemer Century Funds. Deer X Ltd. and Deer X L.P. disclaim beneficial ownership of the securities held by the Bessemer Century Funds, and this report shall not be deemed an admission that Deer X Ltd. and Deer X L.P. are the beneficial owners of such securities, except to the extent of their pecuniary interest therein, if any, by virtue of their direct and indirect general partner interests in the Bessemer Century Funds. ( 6 )Immediately prior to the completion of the Issuer's initial public offering and following the conversion of each series of the Issuer's Preferred Stock into Common Stock, each share of Common Stock was reclassified into one share of Class B Common Stock in an exempt transaction pursuant to Rule 16b-7. ( 7 )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. ( 8 )Prior to the conversion, Bessemer IX and Bessemer Insitutional owned 22,920,735 shares of Series B Preferred Stock and 18,363,010 shares of Series B Preferred Stock, respectively. As of the date hereof, Bessemer IX and Bessemer Institutional each own 0 shares of Series B Preferred Stock. ( 9 )Prior to the conversion, Bessemer IX and Bessemer Insitutional owned 1,612,415 shares of Series C Preferred Stock and 1,291,790 shares of Series C Preferred Stock, respectively. As of the date hereof, Bessemer IX and Bessemer Institutional each own 0 shares of Series C Preferred Stock. ( 10 )Prior to the conversion, Bessemer IX and Bessemer Insitutional owned 1,416,375 shares of Series D Preferred Stock and 1,134,730 shares of Series D Preferred Stock, respectively. As of the date hereof, Bessemer IX and Bessemer Institutional each own 0 shares of Series D Preferred Stock. ( 11 )Prior to the conversion, Bessemer IX and Bessemer Insitutional owned 162,695 shares of Series E Preferred Stock and 130,345 shares of Series E Preferred Stock, respectively. As of the date hereof, Bessemer IX and Bessemer Institutional each own 0 shares of Series E Preferred Stock. ( 12 )Prior to the conversion, Bessemer IX, Bessemer Insitutional, Bessemer Century and Bessemer Century Institutional owned 1,832,360 shares of Series F Preferred Stock, 1,468,000 shares of Series F Preferred Stock, 3,798,490 shares of Series F Preferred Stock and 601,985 shares of Series F Preferred Stock, respectively. As of the date hereof, Bessemer IX, Bessemer Institutional, Bessemer Century and Bessemer Century Institutional each own 0 shares of Series F Preferred Stock. ( 13 )As of the date hereof, Bessemer IX, Bessemer Institutional, Bessemer Century and Bessemer Century Institutional own 30,649,360 shares of Class B Common Stock, 24,554,820 shares of Class B Common Stock, 3,798,490 shares of Class B Common Stock, and 601,985 shares of Class B Common Stock, respectively.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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