Tang Stanley 4

What Happened

• Stanley Tang, a DoorDash director, sold a total of 23,125 shares in multiple open-market transactions on May 4, 2026, generating approximately $4.02 million in proceeds. The individual blocks reported were:
  • 4,759 shares at $172.72 — $821,984
  • 10,571 shares at $173.79 — $1,837,113
  • 4,638 shares at $174.46 — $809,164
  • 2,757 shares at $175.64 — $484,234
  • 400 shares at $176.32 — $70,529
• On the same date he recorded an "other acquisition" of 23,125 shares at $0.00 and an associated derivative disposition of 23,125 shares (code J). Footnotes indicate these reflect conversion of Class B common stock into Class A common stock on a 1:1 basis.

Key Details

• Transaction date: May 4, 2026 (filed May 6, 2026) — filing appears timely.
• Total shares sold: 23,125; total net proceeds from reported open-market sales: ~$4,023,024.
• Sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Tang on December 3, 2025 (footnote F3).
• Shares converted were held directly by The ST Trust for which Tang serves as trustee (footnote F2).
• Each Class B share converts to one Class A share at the holder’s option with no expiration (footnotes F1, F10).
• Some securities reported may be represented by Restricted Stock Units (RSUs) (footnote F9).
• The filing does not disclose the reporting person’s total shares owned after these transactions in the provided excerpt.

Context

• These sales were executed under a pre-arranged Rule 10b5-1 plan, which is commonly used to automate sales and reduce concerns about timing or insider knowledge. Converting Class B to Class A at a 1:1 rate is a non-cash reclassification; the reported open-market sales converted shares into cash.