DoorDash CEO Tony Xu Sells 16,667 Shares After Exercising Options

What Happened

• Tony Xu, CEO of DoorDash (DASH), exercised stock options and sold 16,667 shares in an open-market transaction on Sept 1, 2026. The filing shows an option exercise (M) with an exercise cost of $7.16 per share (total $119,336) and a concurrent sale of 16,667 shares at a weighted average price of $230.00 per share (total proceeds ≈ $3,833,443). A separate derivative line reports 16,667 shares disposed at $0 (see Key Details and footnotes in the filing).

Key Details

• Transaction date: 2026-09-01; Form 4 filed: 2026-09-03 (appears timely).
• Sale: 16,667 shares at weighted average $230.00 (range reported $230.00–$230.05) — total proceeds ≈ $3,833,443 (F2).
• Exercise: 16,667 option shares exercised at $7.16/share — cost $119,336 (M code) (F4 notes options fully vested).
• Additional derivative entry: 16,667 shares listed as disposed at $0.00 (the filing records this separate derivative line; no further explanation provided).
• Shares held by: TXX Investments LLC (sole member: The Article 4 Trust under Library Trust) per filing (F3).
• Sale executed under a Rule 10b5-1 trading plan adopted Sept 9, 2025 (F1).
• Shares owned after the transaction: not specified in the information provided in your summary.

Context

• This was an exercise of vested options followed by an immediate open-market sale — a common way executives monetize option gains. The sale was conducted under a pre-established 10b5‑1 plan, which typically indicates the trades were prearranged. The filing is factual and does not state any insider motivation.