[Form 4] BOX, INC. Insider Trading Activity

Rhea-AI Filing Summary

BOX, Inc. (BOX) Form 4 filing dated 06/30/2025 reports an equity compensation grant to director Dana L. Evan. On 06/27/2025 the director received 6,158 restricted stock units (RSUs) under the company’s Outside Director Compensation Policy. Each RSU converts into one Class A share upon vesting. The award vests 100% on the earlier of (i) 12 months from the grant date (27 Jun 2026) or (ii) the next annual shareholder meeting, provided the director remains in service.

Following the grant, Evan’s beneficial ownership increases to 123,315 Class A shares, all held directly. No cash was paid for the RSUs (reported price $0.00), and no derivative securities were involved.

The filing reflects routine board compensation, adds marginal dilution (<0.01% of shares outstanding), and signals continued board engagement rather than an open-market purchase or sale. There are no indications of unusual insider sentiment or broader strategic implications.

Positive

• Strengthened alignment: Additional RSUs increase the director’s equity stake, reinforcing shareholder-aligned incentives.

Negative

• Minor dilution: Issuance of new shares, albeit immaterial, adds marginal dilution to existing shareholders.

Insights

Financial Analyst

TL;DR: Routine RSU grant; negligible dilution; neutral signal.

The 6,158-share RSU award represents standard annual compensation for BOX’s outside directors. It raises Dana Evan’s holdings to 123,315 shares, aligning incentives but not implying a discretionary buy. Because no shares were sold and the grant is immaterial to BOX’s 150 M+ share count, investor impact is minimal. The filing neither changes cash flow nor forecasts; thus valuation models remain unchanged.

Corporate Governance Specialist

TL;DR: Governance-aligned equity award, supports board retention.

The one-year cliff vesting mirrors best practices for outside director pay—encouraging medium-term oversight without encouraging short-term exits. Timing at the fiscal year transition is typical. No red flags such as accelerated vesting or option repricing appear. The grant modestly strengthens director-shareholder alignment but does not materially affect control dynamics.

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
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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^*

EVAN DANA L

(Last) (First) (Middle)

900 JEFFERSON AVE

(Street)

REDWOOD CITY CA 94063

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BOX INC [ BOX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/27/2025		A		6,158(1)	A	$0.0	123,315(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents an annual restricted stock unit ("RSU") award pursuant to the Issuer's Outside Director Compensation Policy. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement. 100% of the RSUs will vest on the earlier of (i) twelve months from date of grant (i.e. June 27, 2026) or (ii) the date of the Issuer's next annual meeting of stockholders.

2. Certain of these shares are represented by RSUs. Each RSU represents the Reporting Person's right to receive one share of Common Stock of the Issuer subject to the applicable vesting schedule and the Reporting Person's continuous service through each such date.

	/s/ David Leeb, Attorney-in-Fact	06/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many BOX shares did director Dana L. Evan receive in the latest Form 4?

She was granted 6,158 RSUs, each convertible into one Class A share.

When will the newly granted BOX RSUs vest?

The RSUs vest 100% on the earlier of 27 Jun 2026 or the next annual shareholder meeting.

What is Dana L. Evan’s total BOX share ownership after the grant?

Her beneficial ownership rises to 123,315 Class A shares held directly.

Did the director buy or sell BOX shares for cash?

No. The filing reports a zero-cost RSU grant; no open-market transactions occurred.

Does this Form 4 signal bullish insider sentiment at BOX?

The grant is part of routine director compensation and is considered neutral rather than an active bullish purchase.