Dropbox CAO sells 1,305 shares under 10b5-1

Dropbox, Inc. Chief Accounting Officer Sarah Elizabeth Schubach sold 1,305 shares of Class A Common Stock in an open-market transaction at $27.11 per share.

Rhea-AI Filing Summary

Dropbox, Inc. Chief Accounting Officer Sarah Elizabeth Schubach sold 1,305 shares of Class A Common Stock in an open-market transaction at $27.11 per share. The sale was made under a pre-arranged Rule 10b5-1 trading plan. After the transaction, she continues to hold 127,204 shares directly, and some of her holdings are in the form of restricted stock units that vest through February 15, 2030.

Insider Trade Summary 10b5-1

Net Seller: 1,305 shares

Net Sell 1 txn

Insider Schubach Sarah Elizabeth

Role Chief Accounting Officer

Sold 1,305 shs ($35K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,305	$27.11	$35K

Holdings After Transaction: Class A Common Stock — 127,204 shares (Direct)

Footnotes (2)

1. F1. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 16, 2025.
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: 1,305 shares Sale price per share: $27.11 per share Shares held after transaction: 127,204 shares +1 more

4 metrics

Shares sold 1,305 shares Open-market sale on 2026-06-30

Sale price per share $27.11 per share Class A Common Stock transaction

Shares held after transaction 127,204 shares Direct ownership following sale

Net insider share change -1,305 shares Net-sell direction for this Form 4

Key Terms

Rule 10b5-1 trading plan, restricted stock units, Class A Common Stock

3 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 of Class A Common Stock..."

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.

FAQ

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

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

Dropbox reported that Chief Accounting Officer Sarah Elizabeth Schubach sold 1,305 shares of Class A Common Stock. The shares were sold in an open-market transaction at $27.11 per share and were executed under a pre-arranged Rule 10b5-1 trading plan.

At what price did the Dropbox (DBX) CAO sell her shares?

Sarah Elizabeth Schubach sold 1,305 Dropbox Class A shares at $27.11 each. This open-market sale reflects the execution price disclosed, with the transaction carried out under a Rule 10b5-1 trading plan adopted on May 16, 2025.

How many Dropbox (DBX) shares does the CAO hold after the reported sale?

Following the sale, Chief Accounting Officer Sarah Elizabeth Schubach holds 127,204 shares of Dropbox Class A Common Stock directly. The filing also indicates she has restricted stock units that can convert into additional shares, subject to vesting through February 15, 2030.

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

Yes. The filing states the 1,305-share sale by Chief Accounting Officer Sarah Elizabeth Schubach was executed under a Rule 10b5-1 trading plan. That plan was adopted on May 16, 2025, indicating the transaction was pre-scheduled rather than opportunistic.

What does the Form 4 say about Dropbox (DBX) restricted stock units for the CAO?

The Form 4 notes that certain securities held by Sarah Elizabeth Schubach are restricted stock units, each representing one Class A share. These units vest according to an applicable schedule through February 15, 2030, and unvested units are canceled if she ceases to be a service provider.

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

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Accepted by SEC EDGAR 07/02/2026 - 05:25 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)
06/30/2026

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	06/30/2026		S(1)		1,305	D	$27.11	127,204(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/ Cara Angelmar, Attorney-in-Fact	07/02/2026
	** 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)