Dropbox (NASDAQ: DBX) CAO sells 1,415 shares under 10b5-1 plan

Rhea-AI Filing Summary

Dropbox’s Chief Accounting Officer Sarah Elizabeth Schubach sold 1,415 shares of Class A common stock in an open-market transaction at $25.76 per share. The trade on March 16, 2026 was made under a pre-arranged Rule 10b5-1 trading plan. After the sale, she directly holds 83,489 shares and also has restricted stock units that can settle into Class A shares if they 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

OMB APPROVAL

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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 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)
03/16/2026

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	03/16/2026		S(1)		1,415	D	$25.76	83,489(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	03/18/2026
	** 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 did Dropbox (DBX) disclose in Sarah Schubach’s latest Form 4?

Dropbox disclosed that Chief Accounting Officer Sarah Elizabeth Schubach sold 1,415 Class A shares. The shares were sold in an open-market transaction at $25.76 per share, and she now directly owns 83,489 shares plus additional restricted stock units subject to future vesting.

How many Dropbox (DBX) shares did the CAO sell and at what price?

The Chief Accounting Officer sold 1,415 Dropbox Class A shares at $25.76 each. This was an open-market sale reported on Form 4, and it reduced her direct holdings to 83,489 shares, excluding separate restricted stock units that vest over time through February 15, 2029.

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

Yes, the reported sale was executed under a Rule 10b5-1 trading plan. The footnote states the plan was adopted on May 16, 2025, indicating the transaction was pre-arranged rather than a discretionary market-timing decision by the Chief Accounting Officer.

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

After the transaction, Sarah Elizabeth Schubach directly holds 83,489 Dropbox Class A shares. In addition to these shares, some of her compensation is in restricted stock units that each represent one share, vesting according to a schedule running through February 15, 2029.

What restricted stock units does the Dropbox (DBX) CAO hold?

Certain securities reported are restricted stock units tied to Dropbox Class A shares. Each unit represents the right to receive one share, subject to vesting through February 15, 2029. If she ceases to be a service provider before vesting, any unvested units will be cancelled.