Dropbox Executive Eric T. Webster Sells 30,650 Shares for $1 Million
Updated
Updated · Yahoo Finance · Aug 23
Dropbox Executive Eric T. Webster Sells 30,650 Shares for $1 Million
1 articles · Updated · Yahoo Finance · Aug 23
Summary
30,650 Dropbox shares were sold by chief business officer Eric T. Webster on Aug. 18 for about $1.0 million, according to an SEC Form 4 filing.
Roughly 48% of the shares were withheld to cover taxes tied to restricted stock unit vesting, with the rest sold on the open market at $34.05 to $34.23 per share.
Webster’s weighted average sale price was $34.25, above Dropbox’s $33.87 closing price that day.
416,236 shares remained in Webster’s direct holdings after the sale, valued at about $14.1 million, and he also retains RSUs vesting through November 2029.
The transaction came as Dropbox stock had delivered a 21% total return over the year through Aug. 18, leaving the company with an $8.6 billion market value.