Tang Stanley 4
4 · DoorDash, Inc. · Filed Jul 7, 2026
Research Summary
AI-generated summary of this filing
DoorDash (DASH) Director Stanley Tang Sells 23,125 Shares
What Happened
- Stanley Tang, a director of DoorDash (DASH), converted 23,125 shares of Class B common stock into Class A shares (acquisition at $0 per share) and sold those 23,125 shares in multiple open-market transactions on July 2, 2026. The sales were executed in tranches at roughly $189.75, $190.63, $191.72, $192.42 and $193.44 per share, producing total gross proceeds of approximately $4,421,343.
- These sales were effected pursuant to a pre-established Rule 10b5-1 trading plan, so they appear to be planned disposals rather than ad hoc market-timing trades.
Key Details
- Transaction date: July 2, 2026; Form 4 filed July 7, 2026.
- Sales (open market) by tranche:
- 2,986 shares @ $189.75 = $566,588
- 7,206 shares @ $190.63 = $1,373,709
- 10,824 shares @ $191.72 = $2,075,134
- 2,009 shares @ $192.42 = $386,568
- 100 shares @ $193.44 = $19,344
- Total sold: 23,125 shares for ~$4,421,343.
- Conversion: 23,125 Class B shares converted 1:1 into Class A (footnotes F1, F9).
- Ownership/holding vehicle: some shares are held directly by The ST Trust for which Tang is trustee (F2).
- Plan/notes: Sales were under a Rule 10b5-1 plan adopted Dec 3, 2025 (F3). The filing notes weighted-average price ranges for the tranches (roughly $189.14–$193.17 across tranches; see F4–F7). Certain securities involved may be represented by RSUs (F8).
- Shares owned after the transaction: not specified in the excerpt of the filing.
Context
- Sales executed under a 10b5-1 plan are preplanned and commonly used by insiders to sell shares on a set schedule; they do not necessarily indicate a change in view about the company.
- The conversion of Class B to Class A at a 1:1 ratio is a standard mechanical step for holders who elect to convert voting-class shares into the publicly traded class.
- This filing reports sales (not purchases); retail investors often view purchases as stronger bullish signals, while planned sales are frequently routine or for diversification/liquidity.
Insider Transaction Report
Form 4
DoorDash, Inc.DASH
Tang Stanley
Director
Transactions
- Other
Class A Common Stock
[F1][F2]2026-07-02+23,125→ 23,125 total(indirect: See footnote) - Sale
Class A Common Stock
[F3][F4][F2]2026-07-02$189.75/sh−2,986$566,588→ 20,139 total(indirect: See footnote) - Sale
Class A Common Stock
[F3][F5][F2]2026-07-02$190.63/sh−7,206$1,373,709→ 12,933 total(indirect: See footnote) - Sale
Class A Common Stock
[F3][F6][F2]2026-07-02$191.72/sh−10,824$2,075,134→ 2,109 total(indirect: See footnote) - Sale
Class A Common Stock
[F3][F7][F2]2026-07-02$192.42/sh−2,009$386,568→ 100 total(indirect: See footnote) - Sale
Class A Common Stock
[F3][F2]2026-07-02$193.44/sh−100$19,344→ 0 total(indirect: See footnote) - Other
Class B Common Stock
[F9][F1][F2]2026-07-02−23,125→ 3,499,914 total(indirect: See footnote)→ Class A Common Stock (23,125 underlying)
Holdings
- 41,889
Class A Common Stock
[F8] - 7,828
Class B Common Stock
[F9]→ Class A Common Stock (7,828 underlying)
Footnotes (9)
- [F1]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.
- [F2]The shares are held directly by The ST Trust under agreement dated October 2, 2019, for which the Reporting Person serves as trustee.
- [F3]The sales reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 3, 2025.
- [F4]This sale price represents the weighted average sale price of the shares sold ranging from $189.14 to $190.11 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.
- [F5]This sale price represents the weighted average sale price of the shares sold ranging from $190.16 to $191.14 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.
- [F6]This sale price represents the weighted average sale price of the shares sold ranging from $191.17 to $192.16 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.
- [F7]This sale price represents the weighted average sale price of the shares sold ranging from $192.18 to $193.17 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.
- [F8]Certain of these securities are represented by Restricted Stock Units.
- [F9]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.
Signature
/s/ Christina Whittaker, by power of attorney|2026-07-07