---
schema_version: "secwatch.filing_event.v1"
accession: "0001467623-23-000044"
form_type: "8-K"
ticker: "DBX"
cik: "0001467623"
company_name: "DROPBOX, INC."
filed_at: "2023-10-20T23:59:59+00:00"
generated_at: "2026-06-09T18:24:01.134172+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Dropbox surrenders 165,244 sq ft of SF HQ space, pays $79M termination fees; FCF guidance to be updated

## Summary
- Lease amendment surrenders 165,244 sq ft in three tranches through Q1 2025; total termination payments of $79M.
- Avoids future rent and CAM payments of $137M (rent) plus ~$90M (CAM) over remaining 10-year lease term.
- $28.1M termination payment in Q4 2023 not factored into prior FCF guidance of $820-$840M; updated guidance on Nov 2, 2023.

## SEC filing metadata
- accession: 0001467623-23-000044
- form_type: 8-K
- ticker: DBX
- cik: 0001467623
- company_name: DROPBOX, INC.
- filed_at: 2023-10-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1467623/000146762323000044/0001467623-23-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1467623/000146762323000044/dbx-20231017.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001467623-23-000044
- JSON: https://secwatch.observer/filing/0001467623-23-000044.json
- Plain text: https://secwatch.observer/filing/0001467623-23-000044.txt

## Key facts
- Material Agreements
  DROPBOX, INC. amended the Amendment with KRE Exchange Owner LLC valued at $79.0 million in termination payments (effective 2023-10-17).
  - Action: amendment
  - Agreement: lease
  - Counterparty: KRE Exchange Owner LLC
  - Value: $79.0 million in termination payments
  - Effective: 2023-10-17
  source text: On October 17, 2023, Dropbox Inc. (the “Company”) entered into a lease amendment (the “Amendment”) to its Office Lease, dated October 6, 2017, as subsequently amended, with KRE Exchange Owner LLC (the “landlord”) for its corporate headquarters in San Francisco, California, whereby the Company will surrender to the landlord 165,244 square feet of office space and pay an aggregate of $79.0 million in termination payments.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1467623/000146762323000044/0001467623-23-000044-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.