DROPBOX, INC. — Director's Dealing 2023

May 15, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DROPBOX, INC. (DBX)
CIK: 0001467623
Period of Report: 2023-05-11

Reporting Person: Houston Andrew (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-11	Class A Common Stock	C	162500.00	$0.00	Acquired	162500.00	Indirect
2023-05-11	Class A Common Stock	S	162500.00	$21.6548	Disposed	0.00	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-11	Class B Common Stock	$	C	162500.00	Disposed		Class A Common Stock (162500.00)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	8781892.00	Direct
Class A Common Stock	716728.00	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock ()	7743764.00	Indirect
Class B Common Stock	$		Class A Common Stock ()	500500.00	Indirect

Footnotes

F1: 162,500 shares of Class B Common Stock were converted into 162,500 shares of Class A Common Stock at the election of the Reporting Person and had no expiration date.

F2: Shares held by the Andrew Houston Revocable Trust u/a/d 9/7/2011, for which reporting person serves as trustee.

F3: These shares were sold pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person, entered into prior to the effectiveness of the revised requirements of Rule 10b5-1(c). In compliance with SEC guidance, the Reporting Person has not checked the box above but states that the Rule 10b5-1 trading plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

F4: This transaction was executed in multiple trades at prices ranging from $21.54 to $21.78. 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.

F5: Certain of these securities are restricted stock awards of Class A Common Stock. The restricted stock awards vest over a period of up to ten years following the closing of the Issuer's initial public offering of Class A Common Stock, or March 27, 2028, upon achievement of service-based, market-based, and liquidity event-related performance vesting conditions.

F6: Shares held by the Houston Remainder Trust u/a/d 12/30/2010, for which reporting person serves as trustee.

F7: 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.

F8: Shares held by the Houston 2012 Irrevocable Children's Trust u/a/d 4/12/2012, for which reporting person serves as trustee.