DROPBOX, INC. — Director's Dealing 2019

May 17, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DROPBOX, INC. (DBX)
CIK: 0001467623
Period of Report: 2019-05-15

Reporting Person: Regan Timothy (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-15	Class A Common Stock	C	4088.00	$0.00	Acquired	117973.00	Direct
2019-05-15	Class A Common Stock	F	2150.00	$22.19	Disposed	115823.00	Direct
2019-05-15	Class A Common Stock	S	2000.00	$21.89	Disposed	113823.00	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-15	Class B Common Stock	$	C	4088.00	Disposed		Class A Common Stock (4088.00)	Direct
2019-05-15	Class B Common Stock	$	F	2162.00	Disposed		Class A Common Stock (2162.00)	Direct

Footnotes

F1: 4,088 shares of Class B Common Stock were converted into 4,088 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 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 February 15, 2023. In the event the Reporting Person ceases to be a Service Provider, the unvested restricted stock units will be cancelled by the Issuer.

F3: Represents shares that have been withheld by the Issuer to satisfy income tax withholding and remittance obligations in connection with the vesting and net settlement of restricted stock units previously reported.

F4: These shares were sold pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person.

F5: These securities are restricted stock units. Each restricted stock unit represents the Reporting Person's right to receive one share of Class B Common Stock, subject to the applicable vesting schedule through November 15, 2020. In the event the Reporting Person ceases to be a Service Provider, any then unvested restricted stock units will be cancelled by the Issuer.

F6: The Issuer's Class B Common Stock is convertible into the Issuer's Class A Common Stock on a one-for-one basis at the Reporting Person's election and has no expiration date.