Bart Volkmer - 05 Sep 2023 Form 4 Insider Report for DROPBOX, INC. (DBX)

Role
Chief Legal Officer
Signature
/s/ Cara Angelmar, Attorney-in-Fact
Issuer symbol
DBX
Transactions as of
05 Sep 2023
Net transactions value
-$196,165
Form type
4
Filing time
07 Sep 2023, 16:00:58 UTC
Previous filing
17 Aug 2023
Next filing
12 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DBX Class A Common Stock Conversion of derivative security $0 +5,360 +1.7% $0.000000 319,800 05 Sep 2023 Direct F1, F2
transaction DBX Class A Common Stock Sale $196,165 -7,088 -2.2% $27.68 312,712 05 Sep 2023 Direct F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DBX Class B Common Stock Conversion of derivative security $0 -5,360 -7.8% $0.000000 63,120 05 Sep 2023 Class A Common Stock 5,360 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 5,360 shares of Class B Common Stock were converted into 5,360 shares of Class A Common Stock at the election of the Reporting Person and had no expiration date.
F2 Certain of these securities are restricted stock awards and restricted stock units. Each restricted stock award or 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 February 15, 2027. In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock awards and restricted stock units will be cancelled by the Issuer.
F3 These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 6, 2023.
F4 This transaction was executed in multiple trades at prices ranging from $27.48 to $27.89. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.