[Form 4] Dropbox, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Dropbox director Abhay Parasnis reported a sale of 3,564 shares of Class A common stock on 08/20/2025 at $28.26 per share, executed pursuant to a Rule 10b5-1 trading plan adopted May 21, 2025. After the sale, the reporting person beneficially owns 40,522 shares, which include restricted stock units that vest on schedules through May 15, 2026 or the day before the issuer's next annual meeting.

The restricted stock units will be cancelled if the reporting person ceases to be a service provider. The Form 4 was signed by an attorney-in-fact on 08/22/2025 and indicates the filing is by one reporting person who is a director of the issuer.

Insights

Financial Analyst

TL;DR Insider sold a small block under a pre-established 10b5-1 plan; remaining holdings include time-vested RSUs through mid-2026.

The disposition of 3,564 shares at $28.26 per share appears to be a routine sale executed under a Rule 10b5-1 plan adopted May 21, 2025, which provides an affirmative defense against insider trading claims. The filing discloses 40,522 shares beneficially owned after the sale, including restricted stock units subject to vesting schedules through May 15, 2026. For investors, this filing documents governance-compliant insider activity but does not on its face indicate a change in control, a material transfer of ownership, or acceleration of compensation beyond disclosed vesting terms.

Corporate Governance Expert

TL;DR Transaction follows an established 10b5-1 plan and discloses vesting conditions for RSUs; filing is standard and informational.

The report identifies the reporting person as a director and notes that the sale was made pursuant to a trading plan dated May 21, 2025, which aligns with best-practice governance for routine insider transactions. The Form 4 clarifies that unvested restricted stock units will be cancelled if the individual ceases service, which outlines the economic exposure and retention structure. The disclosure is complete within the Form 4's scope and does not allege any irregular governance action.

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^*

Parasnis Abhay

(Last) (First) (Middle)

1800 OWENS STREET

SUITE 200

(Street)

SAN FRANCISCO CA 94158

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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

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

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

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	08/20/2025		S(1)		3,564	D	$28.26	40,522(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 May 21, 2025.

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 May 15, 2026 or the day prior to the date of the Issuer's next annual meeting of stockholders. 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	08/22/2025
	** 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.

FAQ

What did Dropbox director Abhay Parasnis sell on 08/20/2025?

The director sold 3,564 shares of Class A common stock at $28.26 per share on 08/20/2025.

Was the sale by Abhay Parasnis part of a pre-established plan?

Yes. The sale was executed pursuant to a Rule 10b5-1 trading plan adopted on May 21, 2025.

How many Dropbox shares does the reporting person own after the sale?

The reporting person beneficially owns 40,522 shares following the reported transaction.

Do any of the reported shares have vesting conditions?

Yes. Certain securities are restricted stock units that vest through May 15, 2026 or the day before the issuer's next annual meeting; unvested RSUs are cancelled if service ends.

Who signed the Form 4 filing for Abhay Parasnis?

The Form 4 was signed by Cara Angelmar, Attorney-in-Fact on 08/22/2025.