Dropbox Chief Legal Officer reports 7,142-share sale in Form 4

Rhea-AI Filing Summary

Dropbox, Inc. (DBX) reported a Form 4 for its Chief Legal Officer, who is an officer of the company. On November 17, 2025, 10,292 shares of Class A common stock were surrendered to Dropbox to cover tax withholding related to the vesting and net settlement of previously reported restricted stock units. On November 18, 2025, the officer sold 4,500 shares at a weighted average price of $28.9862 and 2,642 shares at a weighted average price of $29.5299, in each case under a Rule 10b5-1 trading plan adopted on June 8, 2025. After these transactions, the officer beneficially owned 206,228 shares of Dropbox Class A common stock, including restricted stock units scheduled to vest through February 15, 2029.

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

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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^*

Yoon William T

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

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	11/17/2025		F(1)		10,292	D	$30.36	213,370(2)	D
Class A Common Stock	11/18/2025		S(3)		4,500	D	$28.9862(4)	208,870(2)	D
Class A Common Stock	11/18/2025		S(3)		2,642	D	$29.5299(5)	206,228(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. Represents shares that have been withheld by the Issuer to satisfy tax withholding and remittance obligations in connection with the vesting and net settlement of restricted stock units previously reported.

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.

3. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 8, 2025.

4. This transaction was executed in multiple trades at prices ranging from $28.45 to $29.43. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

5. This transaction was executed in multiple trades at prices ranging from $29.45 to $29.66. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	/s/ Cara Angelmar, Attorney-in-Fact	11/19/2025
	** 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 insider transaction did Dropbox (DBX) report on this Form 4?

The Form 4 reports that Dropbox's Chief Legal Officer had shares withheld for taxes upon RSU vesting and sold additional Class A common shares in open market transactions.

How many Dropbox (DBX) shares were sold by the officer?

On November 18, 2025, the officer sold 4,500 shares at a weighted average price of $28.9862 and 2,642 shares at a weighted average price of $29.5299.

Were the Dropbox (DBX) share sales under a Rule 10b5-1 plan?

Yes. The filing states the November 18, 2025 sales were made under a Rule 10b5-1 trading plan adopted on June 8, 2025.

Why were 10,292 Dropbox (DBX) shares withheld from the officer?

The 10,292 shares on November 17, 2025 were withheld by Dropbox to satisfy tax withholding and remittance obligations from the vesting of restricted stock units.

How many Dropbox (DBX) shares does the officer still beneficially own?

After the reported transactions, the officer beneficially owned 206,228 shares of Dropbox Class A common stock, including restricted stock units subject to vesting through February 15, 2029.

What are the key terms of the officer's Dropbox (DBX) restricted stock units?

Each restricted stock unit represents the right to receive one share of Class A common stock, subject to an applicable vesting schedule through February 15, 2029, and any unvested units are cancelled if service ends.