By: Katy Shields, Head of People
At DoorDash, we believe that outsized performance deserves outsized recognition. We are continually evolving our compensation approach to align our team’s performance with rewards that are meaningful. Furthermore, we want the reward to reflect the work that our team does to realize DoorDash’s mission and empower the communities we serve.
With that in mind, we are proud to announce that we are removing the 1-year cliff-vesting provision on all equity grants for employees below the VP level — including current employees, new hires, and any future teammates who join the company in equity-eligible roles.
We are working to build a company that makes a positive impact in neighborhoods around the globe, for years to come. Our goal is to provide compensation that is at or above-market by functional area for every employee, and to align long-term incentives for those in equity-eligible roles, we also provide above-market equity value in the form of Restricted Stock Units (RSUs) to align long-term incentives across our company.
Historically, all of our RSU grants have had a 4-year vesting schedule with a 1-year cliff period, meaning the initial 25% of shares didn’t vest until about a year after employees received their grant. Because we see equity as part of total compensation, we believe employees should receive equity as it’s earned — every quarter. This means that now, 6.25% of equity-eligible employees’ shares will vest each quarter after they are issued.
Last month marked DoorDash’s 8th anniversary as a company. While we are proud of what we have built together over the last eight years, we also know that building the next chapter of DoorDash will be as challenging and rewarding as what we have achieved thus far. One of our company values is one team, one fight, and we know that this decision is an important step in rewarding our team for all their hard work as we continue to expand DoorDash’s global footprint and impact, together.
We pride ourselves on recruiting and retaining top talent, and we are united by our customer obsession and commitment to building a last-mile logistics platform to empower local economies everywhere. We are currently hiring for roles across the company, in over 20 offices, across five countries. If you are interested in joining us, please visit https://careers.doordash.com/open-positions and explore our Careers site for more information.