Schubach Sarah Elizabeth 4

What Happened
Sarah Elizabeth Schubach, Chief Accounting Officer of Dropbox, sold 1,305 shares of Dropbox Class A common stock on June 30, 2026, at $27.11 per share for proceeds of approximately $35,379. The filing lists the transaction as a sale (S), executed under a pre-established Rule 10b5-1 trading plan adopted May 16, 2025.

Key Details

• Transaction date and price: June 30, 2026 — 1,305 shares at $27.11 per share (total ≈ $35,379).
• Transaction type: Sale (open market or private sale) under a Rule 10b5-1 plan (footnote F1).
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Notable footnote on holdings (F2): Some reported securities are restricted stock units (RSUs) that convert to shares subject to vesting through February 15, 2030; unvested RSUs are cancelled if the reporting person ceases service.
• Filing timeliness: Reported July 2, 2026 — appears timely (Form 4 is typically due within two business days of the transaction).

Context
Trades made under a Rule 10b5-1 plan are pre-scheduled and commonly used by insiders to systematically sell or buy shares; such sales are often routine and do not by themselves indicate management’s view of the company’s prospects. The presence of RSUs in the holder’s compensation mix means some future share deliveries may be subject to vesting.