[144] Dropbox, Inc. SEC Filing

Rhea-AI Filing Summary

Dropbox, Inc. (DBX) filing: Notice of proposed sale under Rule 144. An individual (identified by the filing as the person for whose account the securities are to be sold) plans to sell 2,500 shares of common stock on 08/15/2025. These shares were acquired as restricted stock units on 02/15/2025 and the filing lists the broker as Morgan Stanley Smith Barney LLC with an aggregate market value of $69,325.00. The filing also discloses a series of prior 10b5-1 plan sales by the same person between 05/30/2025 and 07/29/2025, totaling 22,500 shares and gross proceeds shown for each trade. The filer certifies compliance with Rule 144 and attests there is no undisclosed material adverse information.

Positive

• Formal compliance with Rule 144 disclosure requirements is documented
• Use of a 10b5-1 plan for prior sales provides pre-determined trading structure and timing

Negative

• Insider sales totaling 22,500 shares listed for the past three months may be viewed as notable liquidity by the insider
• Current filing reports planned sale (2,500 shares) which further increases total insider dispositions in the reported period

Insights

Securities Analyst

TL;DR: Routine Rule 144 sale and multiple 10b5-1 plan transactions disclosed; appears procedural rather than material.

The filing documents a proposed sale of 2,500 common shares acquired as RSUs on 02/15/2025 and scheduled for 08/15/2025 through Morgan Stanley Smith Barney LLC. The notice also summarizes several prior sales executed under a 10b5-1 plan from 05/30/2025 through 07/29/2025, with individual gross proceeds reported. From an investor-impact perspective, these are standard insider liquidity events and formal compliance disclosures rather than operational or financial developments for the company. No new company financial metrics, litigation, or governance changes are disclosed.

Corporate Governance Expert

TL;DR: Disclosure aligns with Rule 144 and 10b5-1 requirements; signals insider selling but includes certification of no undisclosed material information.

The filer provides required details: acquisition date (02/15/2025), nature (RSUs), broker, planned sale date, and market value. The inclusion of recent 10b5-1 sale entries demonstrates an ongoing structured selling program. For governance review, the representation that no material nonpublic information exists is standard and important for regulatory compliance. The filing contains no indications of irregularities or departures from typical insider trading protocols.

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	2500	69325.00	193414444	08/15/2025	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	02/15/2025	Restricted Stock Units and Awards	Issuer			2500	02/15/2025	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 Plan for TIMOTHY REGAN 1800 Owens Street San Francisco CA 94158	Common	07/29/2025	2500	69944.25
10b5-1 Sales Plan for TIMOTHY REGAN 1800 Owens Street San Francisco CA 94158	Common	07/15/2025	2500	67070.00
10b5-1 Sales Plan for TIMOTHY REGAN 1800 Owens Street San Francisco CA 94158	Common	07/01/2025	10000	279392.00
10b5-1 Sales Plan for TIMOTHY REGAN 1800 Owens Street San Francisco CA 94158	Common	06/30/2025	2500	71000.00
10b5-1 Sales Plan for TIMOTHY REGAN 1800 Owens Street San Francisco CA 94158	Common	06/13/2025	2500	70245.00
10b5-1 Sales Plan for TIMOTHY REGAN 1800 Owens Street San Francisco CA 94158	Common	05/30/2025	2500	71950.00

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)