CEO Houston Andrew sells 30.3K DBX shares at $27.50 via scheduled 10b5-1 plan; reduces holdings to zero.
Houston Andrew, Dropbox's Chief Executive Officer, executed a scheduled sale of 30,332 shares at $27.50 on 2026-05-18 via a pre-arranged 10b5-1 trading plan adopted on 2025-03-12, reducing his holdings to zero from 30.3K shares. The transaction was automatic and non-discretionary per the 10b5-1 framework, so it reflects a predetermined schedule rather than a tactical market timing decision. His cross-ticker track record shows 20 prior open-market sells with an average 90-day return of -4.8%, while his same-ticker history at DBX across 5 prior sales presents mixed outcomes: one recent sale on 2026-04-01 was followed by a 90-day gain of +17.2%, while three others faced 90-day losses ranging from -2.8% to -19.8%. The complete exit of all CEO holdings warrants disclosure attention, though the scheduled nature of the sale limits inference about current conviction.