Andy Fang (DASH) discloses RSU-related share sales on Form 4

Rhea-AI Filing Summary

DoorDash director Andy Fang reported the sale of 1,263 shares of Class A common stock tied to RSU vesting, executed to cover tax obligations. The Form 4 shows two dispositions on 08/20/2025: 1,227 shares sold at $238.098 per share and 36 shares sold at $241.171 per share. Following these transactions, the filing reports beneficial ownership of 21,318 and 21,282 shares respectively, and notes that certain holdings are represented by restricted stock units (RSUs). The Form 4 was signed by an attorney-in-fact on 08/22/2025 and identifies Fang as a director of DoorDash (DASH).

Positive

• None.

Negative

• Insider sold 1,263 shares (1,227 and 36) on 08/20/2025 to cover taxes associated with RSU vesting
• Beneficial ownership decreased as reflected by reported post-transaction balances of 21,318 and 21,282 shares

Insights

Securities Analyst

TL;DR: Routine RSU-related tax-sale by a director; not indicatively material to company fundamentals.

The filing documents a common liquidity action where vested RSUs triggered tax withholding, leading to 1,263 shares sold on 08/20/2025 at prices near $238–$241. The report lists resultant beneficial ownership counts and states some holdings remain as RSUs. There is no indication of option exercises, new grants, or derivative transactions. For investors, this is a disclosure of insider selling for tax purposes rather than a strategic divestiture.

Corporate Governance Expert

TL;DR: Director sale disclosed under Section 16; description explicitly cites tax-covering of vested RSUs.

The Form 4 properly identifies the reporting person as a director and provides transaction codes and prices for two disposals. The explanation clarifies the sales were to cover tax obligations related to RSU vesting, which is a standard compliance disclosure. The signature by a power of attorney is included, satisfying execution formalities. No additional governance issues or material changes in control are disclosed.

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Fang Andy

(Last) (First) (Middle)

C/O DOORDASH, INC.

303 2ND STREET, SOUTH TOWER, 8TH FLOOR

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DoorDash, Inc. [ DASH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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
Class A Common Stock	08/20/2025		S(1)		1,227	D	$238.098	21,318(2)	D
Class A Common Stock	08/20/2025		S(1)		36	D	$241.171	21,282(2)	D

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. Shares sold to cover tax obligations in connection with the vesting of restricted stock units ("RSUs").

2. Certain of these securities are represented by RSUs.

	/s/ Kimberly Hackman, by power of attorney	08/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Andy Fang (DASH) report on the Form 4 filed in August 2025?

The filing reports two sales on 08/20/2025 of 1,227 shares at $238.098 and 36 shares at $241.171, executed to cover tax obligations from RSU vesting.

Why were the DoorDash shares sold according to the Form 4?

The Form 4 explanation states the shares were sold to cover tax obligations incurred upon the vesting of restricted stock units (RSUs).

How many shares did the reporting person beneficially own after the transactions?

The filing reports post-transaction beneficial ownership of 21,318 and 21,282 Class A shares as shown on the Form 4.

What is the relationship of the reporting person to DoorDash?

The Form 4 identifies Andy Fang as a Director of DoorDash, Inc.

When were the transactions and when was the Form 4 signed?

The transactions occurred on 08/20/2025 and the Form 4 was signed by an attorney-in-fact on 08/22/2025.