Dropbox CAO sells 2,025 shares at $36.78

Dropbox, Inc. (DBX) reported that Chief Accounting Officer Sarah Elizabeth Schubach sold 2,025 shares of Class A common stock on September 15, 2026 at an average price of $36.78 per share.

Rhea-AI Filing Summary

Dropbox, Inc. (DBX) reported that Chief Accounting Officer Sarah Elizabeth Schubach sold 2,025 shares of Class A common stock on September 15, 2026 at an average price of $36.78 per share. After this sale, she directly holds 134,834 shares, including restricted stock units that vest through February 15, 2030. The sale was made under a Rule 10b5-1 trading plan adopted on June 4, 2026.

Insider Trade Summary 10b5-1

Net Seller: 2,025 shares

Net Sell 1 txn

Insider Schubach Sarah Elizabeth

Role Chief Accounting Officer

Sold 2,025 shs ($74K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F2	2,025	$36.78	$74K

Holdings After Transaction: Class A Common Stock — 134,834 shares (Direct)

Footnotes (2)

1. F1. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 4, 2026.
2. F2. Certain of these securities are restricted stock units. Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock, subject to the applicable vesting schedule through February 15, 2030. In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock units will be cancelled by the Issuer.

Key Figures

Shares sold: 2,025 shares Sale price per share: $36.78 per share Shares held after transaction: 134,834 shares +2 more

5 metrics

Shares sold 2,025 shares Class A common stock sold by the Chief Accounting Officer on September 15, 2026

Sale price per share $36.78 per share Average price for the 2,025 shares sold on September 15, 2026

Shares held after transaction 134,834 shares Direct holdings of the Chief Accounting Officer following the September 15, 2026 sale

Rule 10b5-1 plan adoption date June 4, 2026 Date the trading plan governing the reported sale was adopted

Restricted stock unit vesting end date February 15, 2030 Latest date through which the restricted stock units referenced in the filing may vest

Key Terms

Rule 10b5-1 trading plan, restricted stock units, vesting schedule, Service Provider

4 terms

Rule 10b5-1 trading plan regulatory

"These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 4, 2026."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

restricted stock units financial

"Certain of these securities are restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

vesting schedule financial

"Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock, subject to the applicable vesting schedule through February 15, 2030."

A vesting schedule is a timeline that determines when someone gains full ownership of certain benefits, such as company stock or retirement contributions. Think of it like earning the right to own a gift gradually over time, rather than receiving it all at once. It matters to investors because it affects when they can fully access or sell these benefits, influencing their financial planning and decision-making.

Service Provider regulatory

"In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock units will be cancelled by the Issuer."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did DBX report for Chief Accounting Officer Sarah Schubach?

DBX reported that Chief Accounting Officer Sarah Elizabeth Schubach sold 2,025 shares of Class A common stock on September 15, 2026 at an average price of $36.78 per share in an open-market or private transaction.

How many DBX shares does the insider hold after this Form 4 transaction?

After the reported sale, Sarah Elizabeth Schubach directly holds 134,834 shares of Dropbox Class A common stock. The filing notes that certain of these securities are restricted stock units subject to vesting conditions through February 15, 2030.

Was the DBX insider sale made under a Rule 10b5-1 trading plan?

Yes. The sale of 2,025 shares reported for September 15, 2026 was made pursuant to a Rule 10b5-1 trading plan that Sarah Elizabeth Schubach adopted on June 4, 2026, according to the footnote disclosure.

What price did the DBX insider receive per share in the reported sale?

The Chief Accounting Officer sold 2,025 shares of Dropbox Class A common stock at an average price of $36.78 per share on September 15, 2026, as disclosed in the Form 4 filing.

What are the vesting terms of the DBX restricted stock units held by the insider?

The filing states that certain securities held by Sarah Elizabeth Schubach are restricted stock units, each representing the right to receive one share of Class A common stock, subject to an applicable vesting schedule through February 15, 2030. Unvested units are cancelled if she ceases to be a Service Provider.

Does the DBX Form 4 indicate any derivative securities transactions?

No. The Form 4 describes a single sale of 2,025 shares of Class A common stock. It notes the existence of restricted stock units that vest over time but does not report any option exercises or other derivative transactions in this filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 05:05 PM Accepted by SEC EDGAR 09/17/2026 - 05:04 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

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^*

Schubach Sarah Elizabeth

(Last) (First) (Middle)

50 HAWTHORNE STREET

(Street)

SAN FRANCISCO CALIFORNIA 94105

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DROPBOX, INC. [ DBX ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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

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

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

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	09/15/2026		S(1)		2,025	D	$36.78	134,834(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. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 4, 2026.

2. Certain of these securities are restricted stock units. Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock, subject to the applicable vesting schedule through February 15, 2030. In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock units will be cancelled by the Issuer.

Remarks:

	/s/ Cara Angelmar, Attorney-in-Fact	09/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)