DROPBOX, INC. — Director's Dealing 2025

Jun 13, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DROPBOX, INC. (DBX)
CIK: 0001467623
Period of Report: 2025-06-11

Reporting Person: Houston Andrew (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-06-11	Class A Common Stock	C	184000	—	Acquired	184000	Indirect
2025-06-11	Class A Common Stock	S	184000	$28.4826	Disposed	0	Indirect
2025-06-11	Class A Common Stock	C	135000	—	Acquired	851728	Indirect
2025-06-11	Class A Common Stock	S	135000	$28.4827	Disposed	716728	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-06-11	Class B Common Stock	$	C	184000	Disposed		Class A Common Stock (184000)	Indirect
2025-06-11	Class B Common Stock	$	C	135000	Disposed		Class A Common Stock (135000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	8266666	Direct
Class A Common Stock	444444	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock (500500)	500500	Indirect

Footnotes

F1: 184,000 shares of Class B Common Stock were converted into 184,000 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 adopted by the Reporting Person on March 12, 2025.

F4: This transaction was executed in multiple trades at prices ranging from $28.07 to $28.87. 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: 135,000 shares of Class B Common Stock were converted into 135,000 shares of Class A Common Stock at the election of the Reporting Person and had no expiration date.

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

F7: 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.

F8: Shares held by The Erin Yu Houston Revocable Trust u/a/d 1/18/2024, for which the Reporting Person's spouse serves as trustee.

F9: 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.

F10: Shares held by the Houston 2012 Irrevocable Children's Trust u/a/d 4/12/2012, for which Reporting Person serves as trustee.