Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
(d) Election of Director
On March 25, 2022, the Board of Directors (the "Board") of Dropbox, Inc. (the
"Company") appointed Abhay Parasnis to serve as a member of the Board. He was
also appointed to the Compensation Committee of the Board.
"We're thrilled to have Abhay join our Board," said Dropbox Co-founder and Chief
Executive Officer Drew Houston. "Abhay is a proven innovator, operator and
technologist, with over two decades of experience scaling businesses and
fostering a culture of innovation. His familiarity with our core customers and
his experience leading technology, operations, and engineering during times of
transformation, will be invaluable to us as we work towards our long-term vision
of building one organized place for cloud content and the workflows around it."
"I'm honored to join Dropbox's board," said Mr. Parasnis. "Dropbox invented the
file sync and share category and built an incredible product that hundreds of
millions of people use daily. As I look at where the technology landscape is
headed, I firmly believe Dropbox is uniquely positioned to build that next
category - technology centered around improving people's working lives. I'm
excited to be part of this next chapter in Dropbox's journey."
There are no arrangements or understandings between Mr. Parasnis and any other
person, in each case, pursuant to which Mr. Parasnis was appointed to serve on
the Board. There are no family relationships between Mr. Parasnis and any other
director or executive officer of the Company and there have been no transactions
between Mr. Parasnis and the Company in the last fiscal year, and none are
currently proposed that would require disclosure under Item 404(a) of Regulation
S-K.
Mr. Parasnis will receive the standard compensation available to the Company's
current non-employee directors, which is discussed in the Company's Proxy
Statement filed with the Securities and Exchange Commission ("SEC") on April 6,
2021. In accordance with the Company's customary practice, the Company will also
enter into its standard form of indemnification agreement with Mr. Parasnis,
which agreement is filed as Exhibit 10.1 to the Company's Registration Statement
on Form S-1 (File No. 333-223182) filed with the SEC on February 23, 2018.
A copy of the blog post announcing the appointment of Mr. Parasnis to the Board
is attached here as Exhibit 99.1.
For additional information, see the blog post attached as Exhibit 99.1 to this
Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. Exhibit Description
99.1 Blog post published by Dropbox, Inc. on March 28, 2022
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses