DoorDash CEO Tony Xu, Chief Technology Officer Andy Fang, and Chief Product Officer Stanley Tang have unexercised stock options that would expire next year. 

Xu, Fang and Tang each have unexercised options that would lapse on June 25, 2024. 

“Since the planned dispositions under these stock trading plans are associated with options exercises, we do not expect these dispositions to reduce Mr. Xu, Mr. Fang, and Mr. Tang’s common stock holdings or voting power compared to current levels,” according to a news release.

The trading plans were espoused in order to allow them to vend DoorDash Class A common stock acquired through planned option exercises in advance of similar options expiring. Under these trading plans, the three co-founders signify to distribute their dispositions of DoorDash stock over some time until between February and June 2024. 

All deals under Xu’s, Fang’s, and Tang’s trading plans are subject to volume limitations, pursuant to Rule 144, which limits the number of shares that can be vended in any period of three months. 

Under the terms of the new trading plans, Xu plans to trade up to roughly 2.2 million shares of Class A common stock, Fang is looking at about 2 million shares of Class A common stock to sell, and Tang is considering selling roughly 2.4 million shares of Class A common stock.