Director Stanley Tang filed a Form 4 with the SEC on September 4, 2026, reporting the conversion and sale of DoorDash, Inc. (NASDAQ:DASH) Class A Common Stock on September 2, 2026, pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Conversion: Tang converted 30,835 shares of Class B Common Stock into 30,835 shares of Class A Common Stock at a 1:1 ratio at no cost, per the filing.
  • Total shares sold: Tang disposed of 30,835 Class A shares across five separate sale transactions on September 2, 2026.
  • Sale prices: Weighted average sale prices ranged from $223.601 to $227.229 per share across the five tranches.
  • Trading plan: All sales were made pursuant to a Rule 10b5-1 trading plan adopted on December 3, 2025.
  • Indirect ownership after sales: Tang indirectly holds 10,361 Class A shares through The ST Trust following the reported transactions, plus 35,887 Class A shares held directly.
  • Remaining derivative position: Tang indirectly beneficially owns 3,318,885 Class B Common Stock derivative securities following the reported conversion.

Tang's Class B Conversion and Multi-Tranche Class A Share Sale at DoorDash

According to the filing, Stanley Tang, a director of DoorDash, Inc. (NASDAQ:DASH), elected to convert 30,835 shares of Class B Common Stock into an equal number of Class A Common Stock shares on September 2, 2026. The filing notes that each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder, with no expiration date, and the conversion was executed at a price of $0.

Following the conversion, Tang's Rule 10b5-1 plan triggered five separate sale transactions on the same date. The tranches consisted of 2,500 shares at a weighted average of $223.601, 2,265 shares at $224.512, 8,277 shares at $225.747, 15,522 shares at $226.52, and 2,271 shares at $227.229. The filing notes that the prices reported in each tranche represent weighted averages across a range, and Tang will provide full per-share detail to the Commission staff, the issuer, or a security holder upon request.

All shares involved in these transactions are held indirectly through The ST Trust, established under an agreement dated October 2, 2019, for which Tang serves as trustee, the filing states. After the reported sales, Tang's indirect Class A holdings through the trust stand at 10,361 shares. In addition, Tang directly holds 35,887 Class A shares, certain of which are represented by Restricted Stock Units, according to the filing. Tang's indirect beneficial ownership of Class B Common Stock derivative securities, which underlie Class A shares, totals 3,318,885 following the conversion.

What Was Disclosed

The filing reports a director-level conversion of 30,835 Class B shares into Class A shares and the subsequent sale of all 30,835 converted Class A shares across five tranches, all conducted on September 2, 2026, under a pre-established Rule 10b5-1 plan.