[144] Dropbox, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 filed for Dropbox, Inc. (DBX) reports a proposed sale of 45,835 common shares through Morgan Stanley Smith Barney on NASDAQ, with an aggregate market value of $1,369,091.45 and an approximate sale date of 09/08/2025. The shares were acquired as Founders Shares on 06/25/2007. The filing also discloses five prior 10b5-1 sales by related trusts and an annuity trust between 06/11/2025 and 09/02/2025 totaling 595,000 shares and gross proceeds of $16,842,451.50. The filer certifies no undisclosed material adverse information and, where applicable, reliance on a trading plan under Rule 10b5-1.

Positive

• None.

Negative

• Proposed sale of 45,835 common shares valued at $1,369,091.45 scheduled for 09/08/2025
• Recent 10b5-1 sales total 595,000 shares between 06/11/2025 and 09/02/2025 with gross proceeds of $16,842,451.50

Insights

Financial Analyst

TL;DR: Insider-related sales totaling 595,000 shares and a planned 45,835-share sale are disclosed; monitor share supply effects.

This Form 144 shows an insider-originated proposed sale of 45,835 common shares and documents five prior 10b5-1 sales from related trusts and an annuity trust totaling 595,000 shares for combined gross proceeds of $16,842,451.50. The shares to be sold are identified as founders' shares acquired in 2007 and will be executed via Morgan Stanley Smith Barney on NASDAQ. From an analytical perspective, the filing is a clear, routine insider sale notice under Rule 144 and records use of 10b5-1 plans for recent transactions. The filing does not include information about remaining holdings, percent ownership, or company financials, so assessment of dilution or signaling is limited to the disclosed sale amounts and proceeds.

Corporate Governance Expert

TL;DR: Disclosure is compliant and highlights multiple 10b5-1 executions; no governance violations are stated.

The notice provides required disclosures: class of securities, acquisition date (06/25/2007), nature of acquisition (Founders Shares), broker details, planned sale date (09/08/2025), and recent 10b5-1 sale history. The signer affirms lack of undisclosed material adverse information and references Rule 10b5-1 plan adoption where applicable. The document lacks signature details, plan adoption dates, and ownership percentages, which limits assessment of adherence to any company-specific blackout or insider-trading policies beyond the stated reliance on Rule 10b5-1 provisions.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	45835	1369091.45	193414444	09/08/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/25/2007	Founders Shares	Issuer			45835	06/25/2007	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for THE ANDREW HOUSTON REVOCABLE TRUST 1800 Owens Street San Francisco CA 94158	Common	09/02/2025	92000	2623830.80
10b5-1 Sales for THE ANDREW HOUSTON REVOCABLE TRUST 1800 Owens Street San Francisco CA 94158	Common	08/14/2025	92000	2560658.00
10b5-1 Sales for THE ANDREW HOUSTON REVOCABLE TRUST 1800 Owens Street San Francisco CA 94158	Common	07/01/2025	92000	2572000.60
10b5-1 Sales for ANDREW HOUSTON 2010 ANNUITY TRUST 1800 Owens Street San Francisco CA 94158	Common	06/11/2025	135000	3845164.50
10b5-1 Sales for THE ANDREW HOUSTON REVOCABLE TRUST 1800 Owens Street San Francisco CA 94158	Common	06/11/2025	184000	5240797.60

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for DBX report?

The form reports a proposed sale of 45,835 common shares on NASDAQ (approximate date 09/08/2025) valued at $1,369,091.45.

Who is the broker handling the planned sale in the DBX filing?

The filing lists Morgan Stanley Smith Barney LLC as the broker with an address at 1 New York Plaza, 8th Floor, New York, NY 10004.

Were there recent insider sales disclosed before this Form 144?

Yes. The filing discloses five 10b5-1 sales from 06/11/2025 to 09/02/2025 totaling 595,000 shares and gross proceeds of $16,842,451.50.

What type of shares are being sold according to the filing?

The shares are listed as Common and were originally acquired as Founders Shares on 06/25/2007.

Does the filing state reliance on a trading plan under Rule 10b5-1?

The filing includes the standard representation regarding adoption of a written trading plan or trading instructions to satisfy Rule 10b5-1 where applicable, but does not provide a plan adoption date in the visible content.