Lee Gordon S 4

What Happened

• Lee Gordon, DoorDash's Chief Accounting Officer, exercised stock options for 2,000 shares on May 22, 2026 at a $17.57 strike (cash paid $35,140) and reported a same-day open-market sale of 2,204 shares at $160.79 each (total proceeds ~$354,381). The filing also shows 2,000 shares disposed at $0, which the filing indicates relate to restricted stock units.

Key Details

• Transaction date: May 22, 2026.
• Option exercise: 2,000 shares acquired at $17.57 per share; total exercise cost $35,140. Footnote F3: the option shares were fully vested and immediately exercisable.
• Open-market sale: 2,204 shares sold at $160.79 per share; proceeds ~$354,381. Footnote F2: the sale was executed under a Rule 10b5-1 trading plan adopted June 3, 2025.
• RSU/derivative disposition: 2,000 shares reported disposed at $0 (footnote F1 indicates certain securities are represented by Restricted Stock Units).
• Shares owned after the transactions: not specified in the provided filing extract.
• Filing timeliness: Transactions occurred May 22; Form 4 was filed May 27. That is outside the typical two-business-day reporting window for Form 4s and appears late (may warrant investor attention).

Context

• For options: Gordon exercised vested options and concurrently sold shares; when options are exercised and shares are sold the same day it often reflects standard cashless or immediate-sale handling to cover exercise costs and taxes. Here the sale itself was done under a pre-established 10b5-1 plan (per F2), which is a common automated trading arrangement.
• For RSUs: the $0 disposals likely reflect shares surrendered for tax withholding or conversion related to restricted stock units rather than a market sale.
• Takeaway for retail investors: This filing shows insider option exercise plus a routine sale under a 10b5-1 plan; purchases (bullish signals) are not present. The late filing may be noted but does not by itself indicate intent.