Business Context and Reporting Period
This Form 8-K Current Report is filed by Toast, Inc., a Delaware corporation, with a report date of November 30, 2021. The filing primarily addresses corporate governance changes, specifically the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on non-financial corporate events rather than financial performance data.
Material Changes
The material change reported is the appointment of Hilarie Koplow-McAdams to the Board of Directors, effective November 30, 2021. She was appointed as a Class I director to serve until the 2022 annual meeting of stockholders or until earlier death, resignation, or removal.
Guidance, Outlook, and Management Commentary
There is no financial guidance, outlook, or management commentary regarding business operations in this filing. The document details the compensatory arrangements for the new director, which include:
- Annual compensation for serving on the Board and applicable committees.
- An initial grant of restricted stock units (RSUs) valued at $350,000.
- RSUs vest in equal annual installments over three years, contingent on continued service.
The filing notes that Ms. Koplow-McAdams has entered into the Company's standard indemnification agreement and that there are no reportable transactions or family relationships with other directors or officers.
Important Facts for Investor Verification
- Confirmation of Hilarie Koplow-McAdams' appointment as a Class I director effective November 30, 2021.
- Verification of the $350,000 initial RSU grant and its three-year vesting schedule.
- Review of the press release dated December 1, 2021 (Exhibit 99.1) for additional context on the appointment.
- Confirmation that no other material financial or operational events were reported in this specific filing.