Dropbox’s chief accounting officer disposed of shares at $34.42 to settle tax liabilities from restricted stock unit vesting.
Dropbox Inc. (NASDAQ:DBX) Chief Accounting Officer Sarah Elizabeth Schubach sold 5,854 shares on August 17, according to an SEC filing. The transaction, executed at a weighted average price of $34.42, was non-discretionary and aimed to cover tax obligations from restricted stock unit vesting.
Following the sale, Schubach retains approximately 118,000 shares directly, along with additional restricted stock units set to vest through February 15, 2030. Her remaining stake represents roughly 0.05% of outstanding shares. The stock closed at $33.38 on August 17, down 1.6% from the transaction price.
The disposal does not reflect a change in the insider’s view of Dropbox’s valuation, according to the filing. The company’s shares traded at $33.87 at the August 18 market close.