Stanley Tang Files Form 4: RSU-Related Sales at ~$238–$241 for DASH

Rhea-AI Filing Summary

Stanley Tang, a director of DoorDash, Inc. (DASH), reported two stock sales on 08/20/2025 related to vested restricted stock units. The Form 4 shows Mr. Tang sold 1,227 shares of Class A common stock at $238.098 per share and 36 shares at $241.171 per share to cover tax obligations tied to RSU vesting. After these transactions the filing lists beneficial ownership amounts of 24,843 and 24,807 shares respectively, and notes that some holdings are represented by RSUs. The Form 4 was filed as an individual report and signed under power of attorney on 08/22/2025.

Positive

• Disclosure appears complete and routine with clear explanation that sales were to cover tax obligations from RSU vesting
• Filing identifies reporting person as a director and was executed under power of attorney, indicating proper authorization

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider sales to cover RSU tax withholding; not a company-level liquidity or earnings event.

The reported transactions are small, routine disposals tied explicitly to tax obligations from RSU vesting, with sales of 1,227 shares at $238.098 and 36 shares at $241.171 on 08/20/2025. These sales do not reflect secondary offerings or debt-related financing and do not change the company’s reported financials. For investors, such transactions typically indicate personal tax-related liquidity rather than a signal about DoorDash's operating performance or outlook.

Corporate Governance Expert

TL;DR: Disclosure follows Section 16 reporting norms; filing timely and executed by power of attorney.

The Form 4 identifies Mr. Tang as a director and the form is filed by one reporting person. The explanation clarifies the sales were to cover tax obligations on RSU vesting and some ownership remains represented by unvested RSUs. The signature was executed under power of attorney, which is acceptable practice when properly authorized. There are no indications of unusual timing or size that would raise governance concerns based on this filing alone.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

Tang Stanley

(Last) (First) (Middle)

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	24,843(2)	D
Class A Common Stock	08/20/2025		S(1)		36	D	$241.171	24,807(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 DoorDash director Stanley Tang report on Form 4 (DASH)?

The Form 4 reports two sales on 08/20/2025: 1,227 shares at $238.098 and 36 shares at $241.171, related to RSU tax withholding.

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

The filing states the shares were sold to cover tax obligations in connection with the vesting of restricted stock units (RSUs).

How many shares did Tang beneficially own after the reported transactions?

The Form 4 shows beneficial ownership amounts of 24,843 and 24,807 shares on the respective transaction lines; it also notes some securities are represented by RSUs.

Who signed the Form 4 for Stanley Tang and when?

The Form 4 was signed by Kimberly Hackman under power of attorney on 08/22/2025.

Does this Form 4 indicate any company-level transaction or earnings impact for DASH?

No. The filing documents individual insider sales for tax withholding and does not report company-level financing, earnings, or material corporate events.