Fang Andy 4

What Happened
Andy Fang, a DoorDash director, sold 5,000 shares of Class A common stock in an open‑market transaction on June 24, 2026 at $180.00 per share, generating proceeds of $900,000. The same filing also reports a 1:1 conversion of 5,000 Class B shares into Class A shares (reported as an acquisition at $0) and a related disposition of 5,000 derivative/RSU‑linked shares (reported at $0).

Key Details

• Transaction date: 2026-06-24 (Form 4 filed 2026-06-26).
• Sale: 5,000 shares sold @ $180.00 = $900,000 (code S — open market sale).
• Conversions/derivative entries: two J‑coded entries for 5,000 shares acquired (conversion of Class B to Class A at 1:1) and 5,000 shares disposed (derivative/RSU related) reported at $0.
• 10b5‑1 plan: the sale was effected pursuant to a Rule 10b5‑1 trading plan adopted March 6, 2026 (footnote F3).
• Holdings/vehicles: some shares held in The AF Living Trust UTA dated 9/4/19 and AF 2025 GRAT, for which Fang is trustee (footnotes F2, F6). Some securities are represented by Restricted Stock Units (F4).
• Shares owned after the reported transactions: not specified in the Form 4 filing.
• Timeliness: filing appears timely (trade 6/24; filed 6/26).

Context
Sales executed under a prearranged 10b5‑1 plan are typically scheduled in advance and do not necessarily reflect a director’s short‑term view of the company. Conversions of Class B to Class A stock and RSU/derivative items are reporting mechanics that can accompany transfers or settlements and are not the same as open‑market purchases.