https://blog.doordash.com/aligning-reward-with-impact-an-update-to-our-equity-vesting-approach-96bf61d21eda Sign in DoorDash * Delivering Good * DoorDash Engineering Blog Aligning reward with impact: an update to our equity vesting approach DoorDash DoorDash Follow Jul 7 * 2 min read By: Katy Shields, Head of People [0] 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. [0] [0] 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. DoorDash The official DoorDash blog. Follow 25 * Equity * Tech * DoorDash * Hiring * Employee Experience 25 claps 25 DoorDash Written by DoorDash Follow Delivering good. Your favorite restaurants--right to your door. Order now at www.doordash.com. Follow DoorDash DoorDash Follow The official DoorDash blog. Your favorite restaurants -- right to your door. Order now at www.doordash.com. Follow DoorDash Written by DoorDash Follow Delivering good. Your favorite restaurants--right to your door. Order now at www.doordash.com. DoorDash DoorDash Follow The official DoorDash blog. Your favorite restaurants -- right to your door. Order now at www.doordash.com. More From Medium Better Insights to Fuel our Restaurant Partners' Success DoorDash in DoorDash [0] [0] Grilling Season On-Demand: Announcing our Partnership with Beyond Meat to Offer Limited-Edition... DoorDash in DoorDash [1] [1] DoorDash Expands to Japan DoorDash in DoorDash [1] [1] Unveiling our Second Annual Deep Dish Report: Trends in 2021 DoorDash in DoorDash [1] [1] Pet Essentials On-Demand: Announcing Our Nationwide Partnership with PetSmart DoorDash in DoorDash [1] [1] DoorDash Welcomes Stephanie Izard as Chief Restaurant Advisor DoorDash in DoorDash [1] [1] Reopening for Delivery: Rebuilding our Restaurants in a Post-Pandemic World DoorDash in DoorDash [1] [1] Announcing the Main Street Strong Accelerator DoorDash in DoorDash [1] [1] Learn more. Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more Make Medium yours. Follow the writers, publications, and topics that matter to you, and you'll see them on your homepage and in your inbox. Explore Write a story on Medium. If you have a story to tell, knowledge to share, or a perspective to offer -- welcome home. It's easy and free to post your thinking on any topic. Start a blog About Write Help Legal Get the Medium app A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store