Was Karen Peacock’s Dropbox (DBX) share sale under a Rule 10b5-1 plan?

Yes. The filing states the 2,000-share sale was executed under a Rule 10b5-1 trading plan adopted on December 10, 2025. Such plans pre-schedule trades, indicating the timing was determined in advance rather than based on short-term market conditions.

Dropbox (DBX) director Karen Peacock sells 2,000 shares in pre-set 10b5-1 trade

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Dropbox director Karen Peacock reported an open-market sale of 2,000 shares of Dropbox Class A Common Stock at $29.00 per share. The transaction took place on July 7, 2026 and was executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 10, 2025.

Following this sale, Peacock directly holds 24,366 shares of Dropbox Class A Common Stock. The filing also notes that certain of her securities are in the form of restricted stock units that vest through May 21, 2027 or the day prior to Dropbox’s next annual stockholder meeting, and unvested units are cancelled if she ceases to be a service provider.

Insights

Routine, pre-planned insider sale of 2,000 Dropbox shares with continued equity stake.

Director Karen Peacock sold 2,000 shares of Dropbox Class A Common Stock at $29.00 per share in an open-market transaction. The filing shows she still holds 24,366 shares directly, indicating an ongoing equity position after the sale.

The sale was carried out under a Rule 10b5-1 trading plan adopted on December 10, 2025, meaning the trade was pre-scheduled rather than timed opportunistically. The filing also indicates that some of her holdings are restricted stock units vesting through May 21, 2027, which ties a portion of her compensation to future company performance.

Overall, this appears consistent with typical director diversification and compensation practices rather than a thesis-changing event. Subsequent company filings may update her remaining restricted stock unit vesting and any additional plan-based trades.

Insider Trade Summary 10b5-1

Net Seller: 2,000 shares ($58,000)

Net Sell 1 txn

Insider Peacock Karen

Role null

Sold 2,000 shs ($58K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	2,000	$29.00	$58K

Holdings After Transaction: Class A Common Stock — 24,366 shares (Direct, null)

Footnotes (1)

These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 10, 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 May 21, 2027 or the day prior to the date of the Issuer's next annual meeting of stockholders. 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: 2,000 shares Sale price: $29.00 per share Shares held after sale: 24,366 shares +1 more

4 metrics

Shares sold 2,000 shares Class A Common Stock sold on July 7, 2026

Sale price $29.00 per share Open-market sale price for Class A Common Stock

Shares held after sale 24,366 shares Direct ownership following the July 7, 2026 transaction

10b5-1 plan adoption date December 10, 2025 Date Peacock adopted the Rule 10b5-1 trading plan

Key Terms

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

4 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 December 10, 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.

Service Provider other

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

Class A Common Stock financial

"These shares were sold pursuant to a Rule 10b5-1 trading plan... 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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/09/2026 - 04:17 PM Accepted by SEC EDGAR 07/09/2026 - 04:16 PM

FAQ

What insider transaction did Dropbox (DBX) director Karen Peacock report?

Karen Peacock reported selling 2,000 shares of Dropbox Class A Common Stock at $29.00 per share on July 7, 2026. The transaction was an open-market sale and reflects a small portion of her total reported direct holdings in the company.

How many Dropbox (DBX) shares does Karen Peacock hold after this Form 4?

After the reported sale, Karen Peacock directly holds 24,366 shares of Dropbox Class A Common Stock. This figure comes from the post-transaction ownership line in the Form 4 and represents her continuing equity stake following the 2,000-share open-market sale.

What price did Karen Peacock receive for the Dropbox (DBX) shares sold?

Karen Peacock sold 2,000 shares of Dropbox Class A Common Stock at an average price of $29.00 per share. This price is explicitly disclosed in the Form 4 and is used to calculate the total dollar value of the reported transaction.

Does Karen Peacock have Dropbox (DBX) restricted stock units outstanding?

Yes. The Form 4 notes that certain of her securities are restricted stock units, each representing one share of Class A Common Stock. These units vest on a schedule extending through May 21, 2027, or the day before Dropbox’s next annual stockholder meeting, subject to continued service.

What happens to Karen Peacock’s unvested Dropbox (DBX) restricted stock units if she leaves?

According to the filing, if Karen Peacock ceases to be a service provider, any unvested restricted stock units will be cancelled by Dropbox. This means continued service is required for those units to vest into actual Class A Common Stock shares.

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).

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^*

Peacock Karen

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/07/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	07/07/2026		S⁽¹⁾		2,000	D	$29	24,366⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 10, 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 May 21, 2027 or the day prior to the date of the Issuer's next annual meeting of stockholders. 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	07/09/2026
	** 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)

Source: View Original Filing on SEC EDGAR