A Form 4 filed on September 15, 2026, reports that Ashraf Alkarmi, Co-CEO and Director of Dropbox, Inc. (NASDAQ:DBX), sold 28,800 shares of Class A Common Stock on September 11, 2026, under a pre-established Rule 10b5-1 trading plan.

Key Highlights

  • Reporting person: Ashraf Alkarmi, identified as Co-CEO and Director of Dropbox, Inc.
  • Shares disposed: 28,800 shares of Class A Common Stock sold on September 11, 2026, with transaction code "S."
  • Weighted average sale price: $35.5366 per share, with individual trade prices ranging from $34.99 to $35.83.
  • Beneficial ownership following transaction: 1,004,081 shares held directly after the reported sale.
  • 10b5-1 plan: The sale was made pursuant to a Rule 10b5-1 trading plan adopted by Alkarmi on June 12, 2026.
  • Restricted stock units: Certain of the 1,004,081 securities reported are restricted stock units, each representing the right to receive one share of Class A Common Stock, subject to vesting through May 15, 2030.

Alkarmi's Share Sale and Remaining Stake in Dropbox

According to the filing, Ashraf Alkarmi, serving as Co-CEO and Director of Dropbox, Inc., disposed of 28,800 shares of Class A Common Stock on September 11, 2026. The transaction was executed across multiple trades at prices ranging from $34.99 to $35.83, with a weighted average sale price of $35.5366. The filing notes that Alkarmi "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."

The filing indicates that the sale was made pursuant to a Rule 10b5-1 trading plan that Alkarmi adopted on June 12, 2026. The Form 4 box confirming the transaction was made under such a plan is checked, indicating it was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Following the reported sale, Alkarmi's directly held beneficial ownership stands at 1,004,081 shares.

The filing further discloses that certain of those 1,004,081 securities are restricted stock units, each representing "the Reporting Person's right to receive one share of Class A Common Stock, subject to the applicable vesting schedule through May 15, 2030." The filing adds that unvested restricted stock units will be cancelled by the issuer if Alkarmi ceases to be a Service Provider. No derivative securities transactions were reported in Table II. The Form 4 was signed by Cara Angelmar as Attorney-in-Fact on September 15, 2026.

What Was Disclosed

The filing reports a single sale of 28,800 shares of Dropbox Class A Common Stock by Co-CEO Ashraf Alkarmi on September 11, 2026, at a weighted average price of $35.5366, executed under a Rule 10b5-1 plan, leaving him with 1,004,081 shares directly held.