Dropbox (DBX) Chief Accounting Officer reports 1,462-share sale under Rule 10b5-1 plan

Rhea-AI Filing Summary

Dropbox, Inc. Chief Accounting Officer Sarah Elizabeth Schubach reported a sale of Class A common stock. On January 30, 2026, she sold 1,462 shares at $25.79 per share under a pre-arranged Rule 10b5-1 trading plan adopted on May 16, 2025.

After this transaction, she beneficially owned 91,240 shares of Dropbox Class A common stock, some of which are restricted stock units that vest on a schedule extending through February 15, 2029. Any unvested restricted stock units are subject to forfeiture if her service with the company ends.

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
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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)

1800 OWENS STREET

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		S(1)		1,462	D	$25.79	91,240(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 16, 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 February 15, 2029. 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	02/03/2026
	** 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.

FAQ

What insider transaction did Dropbox (DBX) disclose for Sarah Elizabeth Schubach?

Dropbox disclosed that Chief Accounting Officer Sarah Elizabeth Schubach sold 1,462 shares of Class A common stock at $25.79 per share on January 30, 2026. The transaction was reported on Form 4 and reflects a routine insider sale rather than a new equity grant.

How many Dropbox (DBX) shares does Sarah Elizabeth Schubach hold after this Form 4?

After the reported sale, Sarah Elizabeth Schubach beneficially owned 91,240 shares of Dropbox Class A common stock. This total includes restricted stock units, each representing one share, that vest over time according to a schedule running through February 15, 2029.

Was the Dropbox (DBX) insider sale under a Rule 10b5-1 trading plan?

Yes. The 1,462-share sale by Sarah Elizabeth Schubach was executed under a Rule 10b5-1 trading plan adopted on May 16, 2025. Such plans pre-schedule trades, helping insiders systematically sell shares independent of later material nonpublic information.

What price per share was received in the latest Dropbox (DBX) insider sale?

The reported transaction shows that 1,462 Dropbox Class A shares were sold at a price of $25.79 per share. This price reflects the execution level for that specific Form 4 transaction and does not represent a broader valuation or average trading price.

What are the terms of the restricted stock units held by the Dropbox (DBX) officer?

Certain securities beneficially owned by Sarah Elizabeth Schubach are restricted stock units, each equal to one Dropbox Class A share. These units vest on an established schedule through February 15, 2029, and any unvested units are cancelled if she ceases to be a service provider.

Does this Dropbox (DBX) Form 4 indicate any change in executive role or status?

The filing identifies Sarah Elizabeth Schubach as Chief Accounting Officer of Dropbox and reports an equity transaction. It does not state any change to her role, title, or employment status, focusing solely on the reported stock sale and outstanding equity holdings.