DoorDash (NYSE: DASH) director trust sells 30,000 DoorDash shares

Rhea-AI Filing Summary

DoorDash director Andy Fang reported trust-related share movements in DoorDash, Inc. Class A and Class B stock. On January 2, 2026, The AF Living Trust, for which Fang serves as trustee, converted 30,000 shares of Class B Common Stock into 30,000 shares of Class A Common Stock at a 1:1 ratio and no cash price. That same day, the trust sold the full 30,000 Class A shares in multiple open-market transactions under a Rule 10b5-1 trading plan adopted on March 6, 2025, at weighted average prices ranging from about $219.69 to $228.75 per share.

After these trades, indirect holdings reported include 5,719,604 shares of Class A Common Stock underlying Class B shares held by the AF Living Trust. The filing also notes 50,285 Class B shares held directly, 144,000 Class B shares held by AF 2025 GRAT (where Fang is trustee), and 20,030 Class A shares held directly, some represented by restricted stock units.

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

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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).

X

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)
01/02/2026

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	01/02/2026		J(1)		30,000	A	$0	30,000	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		6,933	D	$220.07(4)	23,067	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		2,512	D	$221.324(5)	20,555	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		8,904	D	$222.295(6)	11,651	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		6,282	D	$223.144(7)	5,369	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		925	D	$224.228(8)	4,444	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		2,004	D	$225.505(9)	2,440	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		1,600	D	$226.456(10)	840	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		600	D	$227.235(11)	240	I	See footnote(2)
Class A Common Stock	01/02/2026		S(3)		240	D	$228.75	0	I	See footnote(2)
Class A Common Stock								20,030(12)	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
Class B Common Stock	(13)	01/02/2026		J(1)			30,000	(13)	(13)	Class A Common Stock	30,000	$0	5,719,604(14)	I	See footnote(2)
Class B Common Stock	(13)							(13)	(13)	Class A Common Stock	50,285		50,285	D
Class B Common Stock	(13)							(13)	(13)	Class A Common Stock	144,000		144,000	I	See footnote(15)

Explanation of Responses:

1. Shares of Class B Common Stock were converted at a 1:1 ratio for a share of Class A Common Stock at the election of the Reporting Person.

2. The shares are held by The AF Living Trust UTA dated 9/4/19 ("AF Living Trust") for which the Reporting Person serves as the trustee.

3. The sales reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan that was adopted on March 6, 2025.

4. This sale price represents the weighted average sale price of the shares sold ranging from $219.69 to $220.68 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

5. This sale price represents the weighted average sale price of the shares sold ranging from $220.69 to $221.68 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

6. This sale price represents the weighted average sale price of the shares sold ranging from $220.70 to $222.69 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

7. This sale price represents the weighted average sale price of the shares sold ranging from $222.72 to $223.71 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

8. This sale price represents the weighted average sale price of the shares sold ranging from $223.74 to $224.73 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

9. This sale price represents the weighted average sale price of the shares sold ranging from $224.92 to $225.85 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

10. This sale price represents the weighted average sale price of the shares sold ranging from $225.95 to $226.94 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

11. This sale price represents the weighted average sale price of the shares sold ranging from $226.99 to $227.45 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

12. Certain of these securities are represented by Restricted Stock Units.

13. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.

14. Reflects the AF Living Trust's contribution of 144,000 shares of Class B Common Stock to AF 2025 GRAT.

15. The shares are held by AF 2025 GRAT for which the Reporting Person serves as trustee.

	/s/ Kimberly Hackman, by power of attorney	01/06/2026
	** 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.
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FAQ

Who is the reporting person in the DoorDash (DASH) Form 4 filing?

The reporting person is Andy Fang, identified as a director of DoorDash, Inc., with no officer role or 10% owner status indicated.

How many DoorDash Class A shares were sold in this Form 4 for DASH?

On January 2, 2026, entities associated with Andy Fang sold a total of 30,000 shares of Class A Common Stock in multiple transactions at weighted average prices between approximately $219.69 and $228.75 per share.

What conversion between DoorDash Class B and Class A shares is disclosed?

The filing reports that 30,000 shares of Class B Common Stock were converted into 30,000 shares of Class A Common Stock at a 1:1 ratio, at the election of the holder, with no expiration date for this conversion feature.

Were the DoorDash (DASH) share sales made under a Rule 10b5-1 plan?

Yes. The filing states that the reported sales were effected pursuant to a Rule 10b5-1 trading plan that was adopted on March 6, 2025.

What is the AF Living Trust mentioned in the DoorDash Form 4?

The AF Living Trust is described as The AF Living Trust UTA dated 9/4/19, which holds certain shares and for which Andy Fang serves as trustee, resulting in indirect beneficial ownership reporting.

What additional DoorDash share holdings are reported after these transactions?

The filing reports 5,719,604 Class A shares underlying Class B shares held indirectly via the AF Living Trust, 50,285 Class B shares held directly, 144,000 Class B shares held by AF 2025 GRAT, and 20,030 Class A shares held directly, with certain of these represented by restricted stock units.

What is AF 2025 GRAT in relation to DoorDash shares?

The filing explains that AF 2025 GRAT holds 144,000 shares of Class B Common Stock, contributed from the AF Living Trust, and that Andy Fang serves as trustee of this GRAT.