[144] DROPBOX, INC. SEC Filing

Rhea-AI Filing Summary

Dropbox, Inc. (DBX) Form 144 notifies a proposed sale of 1,066 common shares (acquired as restricted stock units on 08/15/2024) with an aggregate market value of $32,950.06, to be sold on 09/15/2025 on NASDAQ through Morgan Stanley Smith Barney LLC.

The filing also reports multiple prior Rule 10b5-1 sales by the same account between 06/16/2025 and 09/02/2025 totaling 11,073 shares and gross proceeds of $305,465.89. The issuer shows 193,414,444 shares outstanding. The filer certifies reliance on applicable trading-plan rules and attests there is no undisclosed material adverse information.

Positive

• Planned sale disclosed under Rule 144, demonstrating regulatory compliance
• Use of Rule 10b5-1 sales provides pre-arranged trading plan transparency
• Acquisition source disclosed (1066 RSUs dated 08/15/2024) clarifies origin of shares

Negative

• Insider sales totaling 11,073 shares between 06/16/2025 and 09/02/2025 for gross proceeds of $305,465.89, which may draw investor attention
• Form lacks filer CIK/CCC and some contact details (fields appear blank in the provided content)

Insights

Securities Analyst

TL;DR: Routine insider sale under a 10b5-1 plan; modest scale relative to shares outstanding, limited immediate market impact.

The Form 144 documents a planned sale of 1,066 RSU-derived shares and discloses recent systematic 10b5-1 sales totaling 11,073 shares for gross proceeds of $305,465.89. Against 193.4 million shares outstanding, these transactions are immaterial from a dilution or float perspective. The filing clearly identifies the broker and exchange and confirms the seller's representation about undisclosed material information. For investors, this is a compliance disclosure rather than a signal of corporate stress.

Corporate Governance Expert

TL;DR: Disclosure aligns with governance best practices; use of 10b5-1 trading plan reduces regulatory risk.

The notice shows sales executed under a 10b5-1 framework and a planned sale through an institutional broker, which helps establish pre-arranged trading intent and mitigates insider-trading risk. The record of acquisition (RSUs dated 08/15/2024) and explicit attestation regarding material information are consistent with regulatory expectations. No governance red flags or unusual concentrations of sales are apparent from the disclosed amounts.

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	1066	32950.06	193414444	09/15/2025	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			1066	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	09/02/2025	1067	30402.47
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 does the DBX Form 144 disclose about the planned sale?

The filing discloses a proposed sale of 1,066 common shares with an aggregate market value of $32,950.06 to occur on 09/15/2025 on NASDAQ through Morgan Stanley Smith Barney LLC.

How many shares were sold previously under the 10b5-1 plan for DBX?

Prior 10b5-1 sales from 06/16/2025 to 09/02/2025 totaled 11,073 shares, generating gross proceeds of $305,465.89.

What is the origin of the shares proposed for sale?

The 1,066 shares were acquired as Restricted Stock Units (RSUs) on 08/15/2024 from the issuer.

How large is Dropbox's share count as shown in the filing?

The filing reports 193,414,444 shares outstanding.

Does the filing indicate any undisclosed material information?

By signing the notice, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.