Form 4: Dropbox CFO Timothy Regan Sells 3,000 Shares of Class A Common Stock
SEC Form 4 Filing
Dropbox's Chief Financial Officer, Timothy Regan, sold 3,000 shares of Class A Common Stock on June 17, 2024, at a weighted average price of $20.927 per share.
Summary
- On June 17, 2024, Timothy Regan, the Chief Financial Officer of Dropbox, Inc., sold 3,000 shares of Class A Common Stock.
- The sale was executed at a weighted average price of $20.927 per share, with individual transaction prices ranging from $20.77 to $21.10.
- Following the transaction, Regan directly owns 551,122 shares of Class A Common Stock, some of which are restricted stock awards and restricted stock units vesting through February 15, 2028.
- The sale was conducted under a Rule 10b5-1 trading plan adopted on May 8, 2023.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider stock sale. It doesn't inherently convey positive or negative sentiment, as it's simply a report of a transaction.
Industry Context
This Form 4 filing is a routine disclosure of insider trading activity. It provides transparency to the market regarding the transactions of company executives.
Stakeholder Impact
- The sale of shares by a high-ranking executive could be perceived negatively by some shareholders, although the existence of a pre-arranged trading plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 1/25/2021 | Limited Power of Attorney executed, authorizing Bart Volkmer and Cara Angelmar to act on behalf of Timothy Regan for securities law compliance. |
| May 8, 2023 | Date Timothy Regan adopted a Rule 10b5-1 trading plan. |
| 06/17/2024 | Date of the transaction: Timothy Regan sold 3,000 shares of Dropbox Class A Common Stock. |
| 06/20/2024 | Date of signature on the Form 4 filing. |
| February 15, 2028 | Latest vesting date for restricted stock awards and restricted stock units held by Timothy Regan. |
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