[144] Dropbox, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 filed for Dropbox, Inc. (DBX) reporting a proposed sale of 1,067 common shares to be executed through Morgan Stanley Smith Barney LLC on 09/02/2025 with an aggregate market value of $31,007.02. The shares were acquired as restricted stock units on 08/15/2024 from the issuer and payment was recorded as N/A. The filing also discloses five prior sales by the same person under 10b5-1 plans during Jun–Aug 2025 totaling 10,006 shares and aggregate gross proceeds of $279,563.42. The filing does not provide full filer identifying details or dates for the notice signature and plan adoption within the remarks section.

Positive

• Securities were acquired as Restricted Stock Units, indicating the sale is tied to compensation vesting rather than suspicious market activity.
• Sales were executed under 10b5-1 plans in prior months (June–August 2025), suggesting preplanned, rule-compliant dispositions.

Negative

• Insider proposing sale of 1,067 shares, which is a liquidity event that some investors may monitor.
• Filing excerpt lacks full filer identification and explicit plan adoption or signature dates in the provided content, reducing transparency in this excerpt.

Insights

Financial Analyst

TL;DR: Insider sale of a small block of RSUs; prior automated 10b5-1 sales occurred in recent months.

The proposed sale is for 1,067 shares valued at $31,007.02, representing a de minimis portion of the company's 193,414,444 outstanding shares. The securities were acquired as restricted stock units on 08/15/2024, indicating typical compensation vesting rather than an open-market purchase. Recent 10b5-1 sales show systematic disposition: five trades from 06/16/2025 to 08/18/2025 totaling 10,006 shares and $279,563.42 gross proceeds. From a financial perspective, these disclosures are routine insider liquidity events and are unlikely to materially affect the company’s capital structure or market supply.

Corporate Governance Expert

TL;DR: Disclosure appears compliant but lacks some filer-identifying details in the visible content.

The filing documents a Rule 144 notice and references 10b5-1 sales, which are standard mechanisms for insiders to sell shares while managing insider trading risk. The sale arises from RSUs granted by the issuer, aligning with typical executive compensation practices. The public record here does not show the filer’s full CIK or contact info in the provided content, and the remarks section lacks explicit plan adoption or signature dates in the excerpt; those items are important for full governance transparency if absent in the complete filing. Overall, the event is routine governance activity rather than a material corporate action.

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

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	1067	31007.02	193414444	09/02/2025	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	08/15/2024	Restricted Stock Units	Issuer			1067	08/15/2024	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 SARAH SCHUBACH 1800 Owens Street San Francisco CA 94158	Common	08/18/2025	5402	147474.06
10b5-1 Sales for SARAH SCHUBACH 1800 Owens Street San Francisco CA 94158	Common	07/31/2025	1354	37370.40
10b5-1 Sales for SARAH SCHUBACH 1800 Owens Street San Francisco CA 94158	Common	07/16/2025	1084	28964.48
10b5-1 Sales for SARAH SCHUBACH 1800 Owens Street San Francisco CA 94158	Common	06/30/2025	1083	30757.20
10b5-1 Sales for SARAH SCHUBACH 1800 Owens Street San Francisco CA 94158	Common	06/16/2025	1083	30497.28

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 shares are being reported for sale in the DBX Form 144?

The filing reports a proposed sale of 1,067 common shares of Dropbox, Inc.

When and through which broker will the DBX shares be sold?

The sale is scheduled for 09/02/2025 through Morgan Stanley Smith Barney LLC.

What was the acquisition method and date for the shares being sold?

The shares were acquired as Restricted Stock Units on 08/15/2024 from the issuer.

Has the filer sold other DBX shares recently?

Yes. The excerpt shows five 10b5-1 sales from 06/16/2025 to 08/18/2025 totaling 10,006 shares and $279,563.42 in gross proceeds.

How large is the proposed sale relative to Dropbox's outstanding shares?

The proposed 1,067-share sale is small relative to the reported 193,414,444 shares outstanding.