DASH insider reports vested PSUs and Rule 10b5-1 share sales
Rhea-AI Filing Summary
Tony Xu, DoorDash, Inc. director and Chief Executive Officer, reported multiple transactions on 10/01/2025. A total of 518,950 Performance Share Units (PSUs) were deemed vested under performance and service conditions; settlement is deferred and expected on or about November 20, 2025. The filing shows conversion of vested PSUs into 518,950 Class A shares and exercise of a stock option for 34,166 shares at an exercise price of $7.16.
The report also discloses systematic sales executed under a Rule 10b5-1 plan adopted March 8, 2025: incremental open-market sales totaling 34,166 shares at weighted-average prices in the ranges of about $265.59–$271.08 per share. After the transactions, Mr. Xu beneficially owned 520,450 Class A shares directly and 9,341,100 shares indirectly through certain trusts.
Positive
- 518,950 PSUs vested showing achievement of stock-price performance conditions
- Sales executed under a Rule 10b5-1 plan adopted on March 8, 2025, indicating preplanned dispositions
- 34,166 stock options exercised at an exercise price of $7.16 and are fully exercisable
Negative
- Insider sold multiple lots totaling ~34,166 shares on 10/01/2025 at weighted-average prices around $265.6–$271.1, reducing direct holdings
- Large vested equity (518,950 shares) will increase share supply when settlement occurs around November 20, 2025
Insights
Insider vesting and planned sales disclosed; settlement deferred to Nov 20, 2025.
The filing confirms that 518,950 PSUs vested based on stock performance and continued service, but settlement is deferred under the award agreement until around November 20, 2025. Deferred settlement preserves the company’s reported headcount of outstanding shares until that date.
The sales were executed under a pre-established Rule 10b5-1 trading plan adopted on March 8, 2025, which indicates the disposals followed an automated plan rather than ad hoc insider trading.
Significant open-market sales occurred at prices roughly $265.6–$271.1 per share, reducing direct holdings.
Reported open-market disposals on 10/01/2025 include multiple lots totaling ~34,166 shares sold across price ranges with weighted-average sale prices reported per range. These sales reduced Mr. Xu’s direct Class A holdings from higher levels to 520,450 shares.
The exercise of an option for 34,166 shares at an exercise price of $7.16 increased immediately exercisable share count by that amount.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Units | 518,950 | $0.00 | -- |
| Exercise | Stock Option (right to buy) | 34,166 | $0.00 | -- |
| Exercise | Class A Common Stock | 518,950 | $0.00 | -- |
| Exercise | Class A Common Stock | 34,166 | $7.16 | $245K |
| Sale | Class A Common Stock | 1,000 | $266.008 | $266K |
| Sale | Class A Common Stock | 8,728 | $267.249 | $2.33M |
| Sale | Class A Common Stock | 11,364 | $268.128 | $3.05M |
| Sale | Class A Common Stock | 10,906 | $268.963 | $2.93M |
| Sale | Class A Common Stock | 1,700 | $269.955 | $459K |
| Sale | Class A Common Stock | 468 | $270.959 | $127K |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Performance Share Units ("PSUs") vested upon satisfaction of certain stock price performance conditions and continued employment of the Reporting Person through such date. Settlement of the vested PSUs is deferred pursuant to the terms of the applicable award agreement until the next company vesting date, which is expected to be on or about November 20, 2025. The sales reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan that was adopted on March 8, 2025. This sale price represents the weighted average sale price of the shares sold ranging from $265.59 to $266.57 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. This sale price represents the weighted average sale price of the shares sold ranging from $266.64 to $267.62 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. This sale price represents the weighted average sale price of the shares sold ranging from $267.64 to $268.63 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. This sale price represents the weighted average sale price of the shares sold ranging from $268.64 to $269.62 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. This sale price represents the weighted average sale price of the shares sold ranging from $269.66 to $270.45 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. This sale price represents the weighted average sale price of the shares sold ranging from $270.66 to $271.08 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. The shares are held by The Article 4 Trust under TXX Family Trust for which the Reporting Person serves as a trustee Each PSU represents a contingent right to receive one share of Issuer Class A Common Stock. The PSUs vest based on the Issuer's stock price performance over a performance period beginning on the first trading day one and one-half years following the day after the Issuer's initial public offering of Class A Common Stock and ending on November 23, 2027, subject to satisfying certain service-based conditions. The shares underlying the option are fully vested and immediately exercisable.
