DoorDash (DASH) CEO Tony Xu Sells 33,334 Shares After Exercising Options

What Happened
Tony Xu, CEO of DoorDash (DASH), exercised stock options and immediately sold the resulting shares in open-market transactions. On Aug 24, 2026 he exercised 29,567 options at $7.16/share (cost $211,700) and sold those 29,567 shares at about $230.00/share (proceeds $6,800,528). On Aug 25, 2026 he exercised 3,767 options at $7.16/share (cost $26,972) and sold those 3,767 shares at about $230.00/share (proceeds $866,410). Total: 33,334 shares sold for ~$7,666,938; total exercise cost ~$238,672.

Key Details

• Transaction dates: Aug 24, 2026 and Aug 25, 2026. Sale price range (weighted): $230.00–$230.07 per share.
• Shares sold: 29,567 (8/24) and 3,767 (8/25); total sold = 33,334 shares.
• Reported proceeds: ~$6.80M (8/24) and ~$0.87M (8/25); combined ≈ $7.67M.
• Exercise cost: $7.16 per share for all exercised options (total ≈ $238,672).
• Footnotes: sales were made pursuant to a Rule 10b5-1 trading plan adopted Sept 9, 2025 (F1). Weighted average sale price spans $230.00–$230.07 (F2). Shares are held by TXX Investments LLC (trust vehicle) for which Xu is a trustee (F3). The options exercised were fully vested and immediately exercisable (F4).
• Shares owned after the transactions are not specified in the provided filing excerpt.
• Filing: Form 4 dated Aug 26, 2026 reporting actions on Aug 24–25, 2026; the provided excerpt does not indicate a late filing.

Context

• This was an exercise of vested options followed by immediate open-market sales (commonly a “cashless” outcome). That pattern—exercise then sale—often reflects routine liquidity or tax planning rather than a long-term buy/sell signal.
• The use of a 10b5-1 plan means the sales were prearranged according to a trading plan adopted Sept 9, 2025; such plans are commonly used to avoid trading based on nonpublic information.
• As with all insider filings, these are factual disclosures of transactions and do not by themselves explain the insider’s motivations.