Schubach Sarah Elizabeth 4

What Happened

• Sarah Elizabeth Schubach, Chief Accounting Officer of Dropbox, disposed of shares in two related transactions. On 2026-05-15 the issuer withheld 3,680 shares at $26.20 each (~$96,416) to satisfy tax withholding on vested restricted stock units. On 2026-05-19 she sold 1,306 shares in an open-market transaction at $28.14 each for total proceeds of $36,751. Combined cash/value involved across both actions is about $133,167.
• Both actions are dispositions (sales/withholding); the withholding was to cover tax obligations, while the sale was an open-market sale executed under a pre-arranged plan.

Key Details

• Transaction dates and prices:
  • 2026-05-15: 3,680 shares withheld at $26.20/share (tax withholding) — $96,416.
  • 2026-05-19: 1,306 shares sold open market at $28.14/share — $36,751.
• Shares owned after transaction: Not specified in this Form 4 filing.
• Footnotes of note:
  • Withheld shares represent net settlement of vested restricted stock units to cover taxes.
  • The restricted stock units are subject to vesting through Feb 15, 2030 and will be cancelled if she ceases service.
  • The May 19 sale was made pursuant to a Rule 10b5‑1 trading plan adopted by Ms. Schubach on May 16, 2025.
• Filing timeliness: Form filed 2026-05-19; no late filing indicated.

Context

• The 3,680-share transaction was a tax withholding related to RSU vesting (not an active market sell by the insider). The 1,306-share transaction was an open-market sale executed under a previously adopted 10b5‑1 plan (a prearranged plan that can limit signal about intent).
• These are routine insider dispositions (tax withholding and a plan-based sale); factual reporting only — no inference about company prospects is made.