[Form 4] Dropbox, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Dropbox insider sale under 10b5-1 plan. Ali Dasdan, Dropbox's Chief Technology Officer, reported selling 5,666 shares of Class A common stock on 08/18/2025 at a weighted average price of $27.3034 per share under a Rule 10b5-1 trading plan adopted May 12, 2025. After the sale he beneficially owns 563,872 shares, held directly. The filing notes some holdings are restricted stock units that vest through February 15, 2029 and will be cancelled if he ceases to be a service provider. The Form 4 was signed by an attorney-in-fact on 08/20/2025.

Positive

• Sale executed under a Rule 10b5-1 plan, providing affirmative defense and transparency
• Reporting person retains substantial ownership with 563,872 shares beneficially owned after the sale
• Restricted stock units vest through 02/15/2029, indicating long-term alignment with company performance
• Form signed by attorney-in-fact, demonstrating procedural compliance

Negative

• Insider sale could be perceived negatively by some investors despite being pre-planned
• Some holdings are restricted and will be cancelled if the reporting person leaves, which limits transferability until vesting

Insights

Securities Analyst

TL;DR Insider sale under a pre-established 10b5-1 plan; holdings remain substantial and many shares are restricted.

This transaction is a routine insider sale executed under a Rule 10b5-1 plan, which provides an affirmative defense to insider trading allegations because the plan was adopted on May 12, 2025. The sale of 5,666 shares at a weighted average price of $27.3034 is small relative to the total beneficial holding of 563,872 shares, suggesting no immediate dilution of insider ownership concentration. The disclosure that certain holdings are restricted stock units vesting through February 15, 2029 indicates ongoing long-term compensation via equity. From a market-impact perspective, the trade is immaterial and consistent with planned liquidity actions.

Corporate Governance Expert

TL;DR Proper Form 4 disclosure for a planned sale; governance controls appear followed with attorney-in-fact signature.

The filing clearly identifies the reporting person, role (Chief Technology Officer), and the 10b5-1 plan adoption date, aligning with good governance practices for insider transaction transparency. The attorney-in-fact signature indicates procedural compliance in filing. The presence of restricted stock units with multi-year vesting highlights retention incentives tied to service. No evidence in the filing suggests opportunistic or undisclosed trades outside the plan.

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^*

Dasdan Ali

(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 Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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	08/18/2025		S(1)		5,666	D	$27.3034(2)	563,872(3)	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 12, 2025.

2. This transaction was executed in multiple trades at prices ranging from $27.03 to $27.61. 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.

3. 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 awards and restricted stock units will be cancelled by the Issuer.

Remarks:

	/s/ Cara Angelmar, Attorney-in-Fact	08/20/2025
	** 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 (DBX) insider Ali Dasdan disclose on the Form 4?

The filing shows Ali Dasdan sold 5,666 shares of Class A common stock on 08/18/2025 at a weighted average price of $27.3034 under a Rule 10b5-1 plan.

Was the sale by the DBX insider part of a 10b5-1 trading plan?

Yes. The shares were sold pursuant to a Rule 10b5-1 trading plan adopted on May 12, 2025.

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

The report states the reporting person beneficially owns 563,872 shares following the transaction.

Are any of Ali Dasdan's Dropbox shares restricted?

Yes. The filing discloses that certain securities are restricted stock units that vest through February 15, 2029 and will be cancelled if the holder ceases to be a service provider.

Who signed the Form 4 for this transaction?

The Form 4 was signed by Cara Angelmar, Attorney-in-Fact on 08/20/2025.