[Form 4] DoorDash, Inc. Insider Trading Activity

Rhea-AI Filing Summary

DoorDash director Stanley Tang reported multiple transactions on 10/01/2025. He converted 45,410 shares of Class B common stock into Class A common stock at a 1:1 ratio and sold a total of 24,807 Class A shares under a Rule 10b5-1 trading plan adopted on 11/26/2024. The sales occurred in tranches with weighted average sale prices reported in ranges from $265.49 up to $271.08, resulting in incremental declines in Tang’s beneficial holdings from 45,410 to 0 Class A shares directly held and to 0 total direct Class A shares reported, while indirectly retaining 3,808,811 Class A shares through The ST Trust for which he is trustee. Some securities are represented by restricted stock units and certain derivative positions (Class B) remain convertible at a 1:1 ratio with no expiration.

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating pre-planned trading compliance
• Conversion of 45,410 Class B to Class A at a 1:1 ratio, simplifying share class mix for the reporting person
• Indirect holding of 3,808,811 Class A shares retained via The ST Trust, showing continued substantial indirect ownership

Negative

• Reported sale of 24,807 Class A shares, reducing the reporting person's direct beneficial ownership
• Final reported direct Class A holdings reduced to 0 following the transactions (directly held shares reported as 0)

Insights

Corporate Governance Expert

Director executed planned conversion and staged sales under a pre-existing trading plan.

The filing shows 45,410 Class B shares converted to Class A at the holder's election and subsequent sales of 24,807 Class A shares on 10/01/2025. The seller used a Rule 10b5-1 plan adopted on 11/26/2024, indicating the trades were governed by an established framework rather than ad hoc disposals.

This is relevant because conversions reduce dual-class voting share distinctions at the holder level while sales under a 10b5-1 plan can signal pre-planned liquidity rather than immediate reaction to company events.

Securities Compliance Analyst

Transactions disclosed include weighted average sale price ranges and trustee-held indirect ownership.

The Form 4 reports weighted average sale price ranges from $265.49 to $271.08 across multiple tranches and states the shares are held indirectly by The ST Trust where Tang is trustee. The filing also notes certain securities are restricted stock units and Class B shares are convertible 1:1.

This matters for compliance tracking: all sales were reported with explanatory footnotes and executed via a 10b5-1 plan, and the filing commits to provide price-per-lot details on request by regulators or shareholders.

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).

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)
10/01/2025

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	10/01/2025		J(1)		45,410	A	$0	45,410	I	See footnote(2)
Class A Common Stock	10/01/2025		S(3)		1,037	D	$265.948(4)	44,373	I	See footnote(2)
Class A Common Stock	10/01/2025		S(3)		9,161	D	$267.083(5)	35,212	I	See footnote(2)
Class A Common Stock	10/01/2025		S(3)		15,000	D	$267.956(6)	20,212	I	See footnote(2)
Class A Common Stock	10/01/2025		S(3)		16,712	D	$268.871(7)	3,500	I	See footnote(2)
Class A Common Stock	10/01/2025		S(3)		3,200	D	$269.865(8)	300	I	See footnote(2)
Class A Common Stock	10/01/2025		S(3)		300	D	$271.033(9)	0	I	See footnote(2)
Class A Common Stock								24,807(10)	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	(11)	10/01/2025		J(1)			45,410	(11)	(11)	Class A Common Stock	45,410	$0	3,808,811	I	See footnote(2)
Class B Common Stock	(11)							(11)	(11)	Class A Common Stock	7,828		7,828	D

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 directly by The ST Trust under agreement dated October 2, 2019, for which the Reporting Person serves as trustee.

3. The sales reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 26, 2024.

4. This sale price represents the weighted average sale price of the shares sold ranging from $265.49 to $266.48 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 $266.49 to $267.48 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 $267.49 to $268.48 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 $268.49 to $269.46 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 $269.51 to $270.47 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 $270.94 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.

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

11. 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.

	/s/ Kimberly Hackman, by power of attorney	10/03/2025
	** 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)?

He reported converting 45,410 Class B shares into Class A and selling 24,807 Class A shares on 10/01/2025 under a Rule 10b5-1 plan.

Were Tang's sales pre-planned or ad hoc according to the filing?

The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on 11/26/2024, indicating pre-planned transactions.

What prices were reported for the stock sales in the Form 4?

Weighted average sale price ranges were disclosed across tranches from $265.49 up to $271.08; specific per-lot prices are available on request per the filing.

Does Tang still retain ownership after the trades?

Yes; while direct Class A holdings were reduced to 0, the filing reports indirect beneficial ownership of 3,808,811 Class A shares held by The ST Trust where he is trustee.

Are the Class B shares convertible and do they expire?

Yes; each Class B share is convertible into one Class A share at the holder's option and the filing states there is no expiration date on conversion rights.