Dropbox (NASDAQ: DBX) CAO sells 1,415 shares under Rule 10b5-1 plan

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Dropbox, Inc. reported that Chief Accounting Officer Sarah Elizabeth Schubach sold 1,415 shares of Class A Common Stock in an open-market transaction at $22.99 per share. After this sale, she directly holds 137,875 shares of Class A Common Stock.

The sale was executed under a Rule 10b5-1 trading plan, indicating it was pre-arranged rather than a discretionary market-timing decision. A portion of her holdings consists of restricted stock units that vest according to an established schedule through February 15, 2030, which are forfeited if she ceases to be a service provider.

Insider Trade Summary 10b5-1

Net Seller: 1,415 shares ($32,531)

Net Sell 1 txn

Insider Schubach Sarah Elizabeth

Role Chief Accounting Officer

Sold 1,415 shs ($33K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,415	$22.99	$33K

Holdings After Transaction: Class A Common Stock — 137,875 shares (Direct)

Footnotes (1)

These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 16, 2025. Certain of these securities are restricted stock units. Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock, subject to the applicable vesting schedule through February 15, 2030. In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock units will be cancelled by the Issuer.

Key Figures

Shares sold: 1,415 shares Sale price: $22.99 per share Shares held after sale: 137,875 shares +2 more

5 metrics

Shares sold 1,415 shares Open-market sale of Class A Common Stock on April 15, 2026

Sale price $22.99 per share Price received for each share sold in the transaction

Shares held after sale 137,875 shares Direct Class A Common Stock ownership following the transaction

Net shares sold 1,415 shares Net-sell direction from transaction summary

RSU vesting schedule end February 15, 2030 End date of vesting schedule for certain restricted stock units

Key Terms

Rule 10b5-1 trading plan, restricted stock units, Service Provider

3 terms

Rule 10b5-1 trading plan financial

"These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 16, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

restricted stock units financial

"Certain of these securities are restricted stock units. Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock..."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Service Provider financial

"In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock units will be cancelled by the Issuer."

Form 4 Insider Transactions: What Each Field Means →

04/17/2026 - 04:36 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schubach Sarah Elizabeth

(Last)

(First)

(Middle)

1800 OWENS STREET

(Street)

SAN FRANCISCO

CALIFORNIA

94158

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DROPBOX, INC. [ DBX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	04/15/2026		S⁽¹⁾		1,415	D	$22.99	137,875⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 16, 2025.

2. Certain of these securities are restricted stock units. Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock, subject to the applicable vesting schedule through February 15, 2030. In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock units will be cancelled by the Issuer.

Remarks:

	/s/ Cara Angelmar, Attorney-in-Fact	04/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Dropbox (DBX) disclose in this Form 4?

Dropbox disclosed that Chief Accounting Officer Sarah Elizabeth Schubach sold 1,415 shares of Class A Common Stock. The transaction was an open-market sale executed at $22.99 per share, reported as a routine insider trade under U.S. securities rules.

How many Dropbox (DBX) shares did the CAO sell and at what price?

The chief accounting officer sold 1,415 shares of Dropbox Class A Common Stock at $22.99 per share. This represents a relatively small portion of her holdings and was classified as an open-market sale in the Form 4 disclosure.

How many Dropbox (DBX) shares does the insider hold after this sale?

Following the reported transaction, the chief accounting officer directly holds 137,875 shares of Dropbox Class A Common Stock. This post-transaction figure shows she retains a substantial equity position in the company despite the relatively small sale.

Was the Dropbox (DBX) insider sale made under a Rule 10b5-1 plan?

Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 16, 2025. Such plans pre-arrange trades, reducing the significance of short-term market timing for the transaction.

What restricted stock units (RSUs) are mentioned for the Dropbox (DBX) insider?

The filing notes that certain securities are restricted stock units, each representing a right to receive one Class A share. These RSUs vest on a schedule running through February 15, 2030, and any unvested units are cancelled if the insider stops being a service provider.

What does the net-sell direction mean in this Dropbox (DBX) insider filing?

The transaction summary shows a net-sell of 1,415 shares, reflecting one open-market sale and no offsetting purchases or exercises. This means the insider’s directly held share count decreased by that amount in this specific reported event.