Dropbox (NASDAQ: DBX) CAO executes small 1,306-share sale under Rule 10b5-1 plan

Rhea-AI Filing Summary

Dropbox, Inc. Chief Accounting Officer Sarah Elizabeth Schubach reported an open-market sale of 1,306 shares of Class A Common Stock at $26.90 per share. This transaction was executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 16, 2025. After the sale, she directly holds 128,509 shares, and certain holdings consist of restricted stock units that vest through February 15, 2030, which are forfeited if her service with the company ends before vesting.

Insights

Equity compensation and insider trading analyst

Small, pre-planned insider sale with substantial equity position remaining.

Chief Accounting Officer Sarah Elizabeth Schubach sold 1,306 Dropbox Class A shares in an open-market transaction at $26.90 per share. The filing shows she continues to hold 128,509 shares directly, indicating the sale is small relative to her disclosed equity stake.

The transaction was executed under a Rule 10b5-1 trading plan adopted on May 16, 2025. Such plans pre-schedule trades, so the timing is typically driven by the plan rather than short-term company news. The filing also notes restricted stock units that vest through February 15, 2030, reinforcing that a meaningful portion of her compensation remains tied to future company performance.

Insider Trade Summary 10b5-1

Net Seller: 1,306 shares ($35,131)

Net Sell 1 txn

Insider Schubach Sarah Elizabeth

Role Chief Accounting Officer

Sold 1,306 shs ($35K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,306	$26.90	$35K

Holdings After Transaction: Class A Common Stock — 128,509 shares (Direct, null)

Footnotes (1)

1. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 16, 2025. 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: 1,306 shares Sale price: $26.90 per share Shares held after transaction: 128,509 shares +3 more

6 metrics

Shares sold 1,306 shares Open-market sale on June 15, 2026

Sale price $26.90 per share Class A Common Stock transaction

Shares held after transaction 128,509 shares Direct ownership following sale

Net buy/sell shares -1,306 shares Net selling across reported transactions

Trading plan adoption date May 16, 2025 Rule 10b5-1 plan governing the sale

RSU vesting end date February 15, 2030 Last vesting date for noted restricted stock units

Key Terms

Rule 10b5-1 trading plan, restricted stock units, Class A Common Stock, Service Provider, +1 more

5 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 May 16, 2025."

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. Each restricted stock unit represents the Reporting Person's right to receive one share..."

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.

Class A Common Stock financial

"Each restricted stock unit represents the Reporting Person's right to receive one share of Class A Common Stock..."

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Service Provider other

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

Form 4 regulatory

"The open-market sale occurred at a price of $26.90 per share and was disclosed in a Form 4 insider trading report."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

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)

1800 OWENS STREET

(Street)

SAN FRANCISCO CALIFORNIA 94158

(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)
06/15/2026

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	06/15/2026		S(1)		1,306	D	$26.9	128,509(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, 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/ Willian Yoon, Attorney-in-Fact	06/17/2026
	** 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)

FAQ

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

Dropbox reported that Chief Accounting Officer Sarah Elizabeth Schubach sold 1,306 shares of Class A Common Stock. The open-market sale occurred at a price of $26.90 per share and was disclosed in a Form 4 insider trading report.

Was the Dropbox (DBX) insider stock sale by Sarah Schubach pre-planned?

Yes. The Form 4 notes that Sarah Schubach’s sale was made under a Rule 10b5-1 trading plan. This plan was adopted on May 16, 2025, meaning the trade was scheduled in advance rather than timed opportunistically.

How many Dropbox (DBX) shares does Sarah Schubach hold after the sale?

After selling 1,306 shares, Sarah Schubach directly holds 128,509 shares of Dropbox Class A Common Stock. This indicates the reported sale represents only a small portion of her overall disclosed equity position in the company.

What price did the Dropbox (DBX) insider sale shares receive?

The reported insider sale by Sarah Schubach was executed at $26.90 per share. This per-share price applies to the 1,306 Class A Common Stock shares sold in the open market, according to the Form 4 disclosure.

Does Sarah Schubach have restricted stock units in Dropbox (DBX)?

Yes. The filing explains that certain securities are restricted stock units, each representing a right to receive one share of Class A stock. These units vest on a schedule through February 15, 2030, and unvested units are cancelled if her service ends.

What role does Sarah Elizabeth Schubach hold at Dropbox (DBX)?

Sarah Elizabeth Schubach serves as Dropbox’s Chief Accounting Officer. Her Form 4 filing reflects an open-market sale of company shares while also noting she continues to hold a significant number of shares and restricted stock units tied to future vesting.