[Form 4] DoorDash, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Tony Xu, DoorDash CEO and director, reported option exercises and contemporaneous stock sales on 08/15/2025 and 08/18/2025. He exercised stock options to acquire 34,167 shares on 08/15/2025 and 17,083 shares on 08/18/2025 at an exercise price of $7.16 per share. The Form 4 shows sales executed under a Rule 10b5-1 plan adopted March 8, 2025, totaling 51,250 shares sold across multiple transactions at weighted average prices ranging from about $244.43 to $250.96 per share. Following the reported transactions, the filing shows 520,450 shares beneficially owned directly and 83 shares indirectly through a family trust for which he serves as trustee. The filing discloses that the options exercised are fully vested and immediately exercisable.

Positive

• Transactions executed under a Rule 10b5-1 trading plan, indicating pre-established instructions for sales
• Options exercised were fully vested and immediately exercisable, enabling a clean exercise-and-sell process
• Filing discloses post-transaction beneficial ownership (520,450 shares direct; 83 shares indirect via family trust)

Negative

• Insider sold a total of 51,250 shares, which could be perceived as significant share disposition by a major insider
• Sales occurred at high weighted average prices ($244.43 to $250.96 ranges), representing substantial proceeds realized by the reporting person

Insights

Securities Analyst

TL;DR: CEO exercised vested options and sold the exact number of shares acquired under a pre-established 10b5-1 plan.

The filing documents simultaneous option exercises (34,167 and 17,083 shares) at a $7.16 strike and matching sales totaling 51,250 shares executed under a Rule 10b5-1 trading plan adopted March 8, 2025. The sales were reported at weighted average prices spanning roughly $244.43 to $250.96 per share. These transactions are presented as routine insider exercises and plan-based dispositions, with the options described as fully vested and immediately exercisable. Impact to outstanding float is limited to the reported share movements; the Form 4 does not provide context on earlier holdings or a change in ownership percentage beyond the reported post-transaction beneficial ownership figures.

Corporate Governance Expert

TL;DR: Transactions executed under an explicit 10b5-1 plan and signed via POA; disclosures follow standard compliance practice.

The report indicates adherence to a documented trading plan (Rule 10b5-1) and includes explanatory footnotes about weighted average prices and the trust holding (The Article 4 Trust under TXX Family Trust). The Form 4 is signed by a power of attorney and provides clear post-transaction ownership counts: 520,450 shares held directly and 83 indirectly. No amendments or additional governance actions are indicated. Material governance risk is not evident from the filing itself; it is a routine disclosure of insider option exercises and plan-based sales.

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
Estimated average burden
hours per response:			0.5

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^*

Xu Tony

(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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		M		34,167	A	$7.16	554,617	D
Class A Common Stock	08/15/2025		S(1)		1,400	D	$244.854(2)	553,217	D
Class A Common Stock	08/15/2025		S(1)		1,073	D	$245.975(3)	552,144	D
Class A Common Stock	08/15/2025		S(1)		9,778	D	$246.951(4)	542,366	D
Class A Common Stock	08/15/2025		S(1)		9,697	D	$247.959(5)	532,669	D
Class A Common Stock	08/15/2025		S(1)		12,219	D	$248.795(6)	520,450	D
Class A Common Stock	08/18/2025		M		17,083	A	$7.16	537,533	D
Class A Common Stock	08/18/2025		S(1)		16,883	D	$250.53(7)	520,650	D
Class A Common Stock	08/18/2025		S(1)		200	D	$251	520,450	D
Class A Common Stock								83	I	See footnote(8)

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
Stock Option (right to buy)	$7.16	08/15/2025		M			34,167	(9)	10/09/2028	Class A Common Stock	34,167	$0	1,387,889	D
Stock Option (right to buy)	$7.16	08/18/2025		M			17,083	(9)	10/09/2028	Class A Common Stock	17,083	$0	1,370,806	D

Explanation of Responses:

1. The sales reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan that was adopted on March 8, 2025.

2. This sale price represents the weighted average sale price of the shares sold ranging from $244.43 to $245.33 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.

3. This sale price represents the weighted average sale price of the shares sold ranging from $245.44 to $246.42 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.

4. This sale price represents the weighted average sale price of the shares sold ranging from $246.44 to $247.42 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 $247.44 to $248.43 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 $248.44 to $249.42 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 $250.00 to $250.96 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. The shares are held by The Article 4 Trust under TXX Family Trust for which the Reporting Person serves as a trustee.

9. The shares underlying the option are fully vested and immediately exercisable.

	/s/ Kimberly Hackman, by power of attorney	08/19/2025
	** 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 CEO Tony Xu report on Form 4 (DASH)?

Tony Xu reported exercising options to acquire 34,167 shares on 08/15/2025 and 17,083 shares on 08/18/2025 at $7.16 per share, and selling a total of 51,250 shares under a Rule 10b5-1 plan.

How many shares were sold and at what prices in the Form 4 for DASH?

Total shares sold: 51,250 shares across multiple transactions with weighted average sale-price ranges from approximately $244.43 to $250.96 per share as disclosed in the filing.

Were the option exercises reported by Tony Xu vested and exercisable?

Yes. The Form 4 states the shares underlying the options are fully vested and immediately exercisable.

Was a trading plan used for the sales reported on the Form 4 (DASH)?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on March 8, 2025, per the filing.

How many shares does Tony Xu beneficially own after these transactions?

The filing reports 520,450 shares beneficially owned directly and 83 shares indirectly via The Article 4 Trust under TXX Family Trust.