The Andrew Houston Revocable Trust filed a Form 144 notice with the U.S. Securities and Exchange Commission on November 2, 2026, proposing the sale of 383,800 shares of Dropbox, Inc. common stock on NASDAQ:DBX.

Key Highlights

  • Proposed sale: 383,800 shares of Dropbox common stock with an aggregate market value of $13,912,750.00, according to the filing.
  • Seller: The Andrew Houston Revocable Trust, whose relationship to the issuer is listed as Director, Officer, and 10% Stockholder.
  • Shares outstanding: The filing lists 150,561,680 shares of Dropbox common stock outstanding.
  • Original acquisition: The 383,800 shares were acquired on June 25, 2007, as Founders Shares from the issuer, with payment dated June 25, 2007.
  • 10b5-1 plan date: The notice indicates a Rule 10b5-1 plan adoption date of June 11, 2026.
  • Recent prior sales: The trust sold 383,800 shares on September 10, 2026 (gross proceeds $13,439,235.51), 354,300 shares on October 1, 2026 (gross proceeds $12,049,815.22), and 29,500 shares on October 12, 2026 (gross proceeds $1,035,234.65), all reported as 10b5-1 sales.
  • Broker: Morgan Stanley Smith Barney LLC Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004, is named as the executing broker.

Dropbox Founder Trust Discloses Proposed Common Stock Sale Under Rule 144

According to the Form 144 filing, the Andrew Houston Revocable Trust is proposing to sell 383,800 shares of Dropbox, Inc. (NASDAQ:DBX) common stock, with an approximate sale date of November 2, 2026. The aggregate market value of the proposed sale is listed as $13,912,750.00. The trust is identified as having a Director, Officer, and 10% Stockholder relationship to the issuer, Dropbox, Inc., headquartered at 50 Hawthorne Street, San Francisco, California 94105.

The filing discloses that the shares proposed for sale were originally acquired on June 25, 2007, as Founders Shares from the issuer, with the nature of payment listed as "N/A." The notice was signed by Andrew Houston and dated November 2, 2026. The filing states that the trust adopted a written trading plan under Rule 10b5-1 on June 11, 2026, and sales are being conducted pursuant to that plan.

The filing also discloses sales during the prior three months, all conducted as 10b5-1 sales for the Andrew Houston Revocable Trust: 383,800 shares sold on September 10, 2026, generating gross proceeds of $13,439,235.51; 354,300 shares sold on October 1, 2026, generating gross proceeds of $12,049,815.22; and 29,500 shares sold on October 12, 2026, generating gross proceeds of $1,035,234.65. The filing lists the total shares outstanding at 150,561,680.

What Was Disclosed

The Andrew Houston Revocable Trust filed a Form 144 notice proposing the sale of 383,800 Dropbox common shares valued at $13,912,750.00, acquired as Founders Shares in 2007, through Morgan Stanley Smith Barney LLC under a Rule 10b5-1 plan adopted June 11, 2026.