Tennenbaum Ross 4
4 · DROPBOX, INC. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Dropbox (DBX) CFO Ross Tennenbaum Sells 20,325 Shares (Tax Withholding)
What Happened
Ross Tennenbaum, Chief Financial Officer of Dropbox, had 20,325 shares of Class A common stock withheld by the company to satisfy tax withholding related to the vesting and net settlement of restricted stock units. The shares were valued at $26.20 each, for a total disposition of $532,515. This was a tax-withholding/net settlement transaction (code F), not an open-market sale.
Key Details
- Transaction date: 2026-05-15; Filing date: 2026-05-19 (filed 4 days after the transaction; appears late relative to the 2-business-day Form 4 reporting requirement)
- Price per share: $26.20; Shares withheld/disposed: 20,325; Total value: $532,515
- Transaction code: F (shares withheld to satisfy tax withholding obligations)
- Shares owned after transaction: Not disclosed in the provided filing
- Footnotes:
- F1: Shares were withheld by the issuer to satisfy tax withholding and remittance obligations for the vesting/net settlement.
- F2: These securities are restricted stock units (RSUs). Each RSU converts to one share subject to vesting through November 15, 2029; unvested RSUs are canceled if the reporting person ceases service.
Context
This was a routine tax-withholding net settlement of RSUs (cashless in effect) rather than a discretionary sale, so it does not necessarily signal a change in insider outlook. The withheld shares simply covered tax obligations arising from RSU vesting. The late filing is a procedural note investors may want to monitor for compliance patterns.
Insider Transaction Report
- Tax Payment
Class A Common Stock
[F1][F2]2026-05-15$26.20/sh−20,325$532,515→ 779,605 total
Footnotes (2)
- [F1]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.
- [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 November 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.