Dropbox CFO Ross Tennenbaum Withholds 20,326 Shares for Taxes

What Happened Ross Tennenbaum, Chief Financial Officer of Dropbox, had 20,326 shares withheld by the company to satisfy tax withholding obligations tied to the vesting and net settlement of restricted stock units. The withholding was recorded at $34.42 per share for a total value of approximately $699,621 on August 17, 2026. This was an issuer withholding to cover taxes (transaction code F), not an open-market sale.

Key Details

• Transaction date and price: Aug 17, 2026 — 20,326 shares at $34.42 each; total ~$699,621.
• Transaction type: Tax withholding in connection with RSU vesting (code F).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing date: Aug 19, 2026 — filed within the typical 2-business-day window for Form 4 filings.
• Footnotes:
  • F1 — Shares were withheld by the issuer to satisfy tax withholding/remittance for previously reported RSU vesting.
  • F2 — Some securities are restricted stock units that vest through Nov 15, 2029; unvested RSUs are cancelled if the reporting person ceases service.

Context This was a routine net-share settlement to cover tax obligations on vested RSUs (issuer withheld shares), not a discretionary open-market sale. Such withholdings reduce the number of shares issued to the insider but do not necessarily indicate a change in the insider’s view of the company.