{
  "ticker": "DBX",
  "company": "Dropbox, Inc.",
  "cik": "0001467623",
  "exchange": "NASDAQ",
  "gics_sector": "Information Technology",
  "industry": "Information Technology",
  "logo_url": "https://www.google.com/s2/favicons?domain=dropbox.com&sz=128",
  "from_state": "DE",
  "to_state": "NV",
  "effective_date_iso": "2025-03-05",
  "actual_effective_date_iso": "2025-03-05",
  "proposed_effective_date_iso": null,
  "source_confidence": "VERIFIED_EFFECTIVE",
  "is_legal_precedent": 0,
  "vote_mechanism": "WRITTEN_CONSENT",
  "approval_basis": "Written consent (no Item 5.07 tabulation)",
  "threshold_result": "PASSED",
  "event_type": "REINCORPORATION",
  "two_attempt_flag": 0,
  "prior_failed_vote_flag": 0,
  "governance_concession_redo_flag": 0,
  "subsequent_event_flag": 0,
  "subsequent_event_type": null,
  "subsequent_event_date_iso": null,
  "subsequent_event_note": null,
  "public_tier": "VERIFIED_TRACKER",
  "event_study_announcement_json": "{\"event_date\":\"2025-01-31\",\"event_tag\":\"announcement\",\"estimation_window\":\"2024-02-15 to 2025-01-30 (240 days)\",\"specifications\":[{\"name\":\"Synthetic control (9-donor Information Technology peer pool)\",\"day0_ar\":-0.0030529509469983053,\"p_value\":null,\"p_label\":\"no inference (point estimate)\",\"extra\":{\"pre_rmspe\":0.0185008743355389,\"n_donors\":9,\"top_weights\":{\"BOX\":0.3208,\"ZM\":0.2593,\"ADBE\":0.2329,\"WDAY\":0.0985,\"TEAM\":0.0468},\"r2_pre\":-5.791453635288121}},{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":0.005962572937972926,\"p_value\":0.775621012525167,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":-0.0005737005427779777,\"beta\":0.8956091689066638,\"r2\":0.10756453819577427}},{\"name\":\"Sector-augmented model (SPY + Nasdaq-100 (QQQ))\",\"day0_ar\":0.006966934782800198,\"p_value\":0.7386872841205061,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":-0.0006291105550846637,\"beta_mkt\":1.1185782059916511,\"beta_sector\":-0.16356789234631197,\"r2\":0.10836219347568643},\"is_headline\":true},{\"name\":\"Matched pair (vs BOX, market-model-adjusted)\",\"day0_ar\":-0.0005418573395782594,\"p_value\":0.9840817134489395,\"p_label\":\"two-sided p-value\",\"extra\":{\"se\":0.027158131715744663,\"t\":-0.019951937241107158}},{\"name\":\"Raw differential vs BOX\",\"day0_ar\":-0.0041924363086500716,\"p_value\":null,\"p_label\":\"no inference\",\"extra\":{}}],\"robustness\":{\"pretrend_test\":{\"slope_pct_per_day\":0.005043999398249232,\"p_slope\":0.01297306729140213,\"verdict\":\"pretrend_detected\"},\"sign_test\":{\"n_same_direction\":5,\"n_total\":9,\"binomial_p_two_sided\":1.0},\"synth_fit\":{\"pearson_corr\":0.8420639238984013,\"r_squared_levels\":-5.791453635288121,\"durbin_watson\":2.000473728242946}},\"per_window\":[],\"_source\":\"Source A: phase4v cohort runner (5 specs + robustness, 2026-04-28 yfinance pull); joined into data.json by phase5z_join_full_battery.py\",\"event_kind\":\"announcement\",\"t0_source_field\":\"announcement_date_iso\"}",
  "announcement_date_iso": "2025-01-31",
  "meeting_date_iso": "2025-01-28",
  "vote_result": "APPROVED",
  "status_label": "COMPLETED",
  "market_cap_usdmm": 5791.8,
  "bucket_class": "A",
  "public_bucket_code": "B",
  "public_bucket_label": "Pre-SB29 DExit mover (Jan-May 2025 wave)",
  "public_bucket_subcode": "B2",
  "panel_eligibility": "PRE_SB29_BENCHMARK",
  "transaction_status": "COMPLETED",
  "audit_status": "VERIFIED_WRITTEN_CONSENT",
  "audit_notes": "[2026-04-28] Phase 4I: replaced Google-search IR fallback with direct URL https://investors.dropbox.com/ | [2026-04-28] Phase 4K: corrected mechanism (was implied meeting, actually WRITTEN CONSENT under founder-controlled dual-class structure). PRE 14C 2025-01-31; eff 2025-03-05 5:00pm PT. Removed phantom 2025-06-04 meeting date \u2014 that was unrelated annual meeting, not the reincorporation vote. Pre-SB29 NV benchmark. | [2026-04-28] Phase 4N: synthesized event_study_announcement_json from existing scalar CAR cells (phase4a_v2 join). Reviewer can extend with multi-spec analysis.\n[2026-04-28] phase5e: cleaned edgar_accession_canonical: extracted '0001140361-25-003654' from raw value '0001140361-25-003654 (DEF 14C effective Mar 5, 2025; Houston trust written consent)' (source=dashed)\n[2026-04-29] phase5g: WRITTEN_CONSENT \u2014 meeting_date_iso set to consent execution date 2025-01-28 (reviewer: https://www.sec.gov/Archives/edgar/data/1467623/000114036125002654/ny20042422x1_pre14c.htm)\n[2026-04-29] phase5g: vote_source set DEF 14C acc=0001140361-25-002654 url=https://www.sec.gov/Archives/edgar/data/1467623/000114036125002654/ny20042422x1_pre14c.htm (written-consent transaction; reviewer: https://www.sec.gov/Archives/edgar/data/1467623/000114036125002654/ny20042422x1_pre14c.htm)\n[2026-04-29] phase5g: WRITTEN_CONSENT \u2014 meeting_date_iso set to consent execution date 2025-01-28 (reviewer: https://www.sec.gov/Archives/edgar/data/1467623/000114036125002654/ny20042422x1_pre14c.htm)\n[2026-04-29] phase5g: vote_source set DEF 14C acc=0001140361-25-002654 url=https://www.sec.gov/Archives/edgar/data/1467623/000114036125002654/ny20042422x1_pre14c.htm (written-consent transaction; reviewer: https://www.sec.gov/Archives/edgar/data/1467623/000114036125002654/ny20042422x1_pre14c.htm)\n[2026-04-29] phase5m: DBX vote_mechanism already=WRITTEN_CONSENT; Item 8.01 8-K confirms reincorporation effective March 5, 2025 at 5:00pm PT, written consent of stockholders Jan 28, 2025 per board recommendation; primary source: Form 8-K filed March 10, 2025 (Item 8.01 Other Events); user-provided IR URL: https://dropbox.gcs-web.com/node/12371/html\n[2026-04-29] phase5r: bucket 'B2' -> 'A' (DE->NV effective 2025-03-05 < SB29 (2025-05-14) -> bucket A (pre-SB29))\n[2026-04-29] phase5w: comprehensive validation by external reviewer across tranches v4 (4-version full residual walk, 269 substantive answers across 52 firms, 0 bucket drifts vs v3.58) | [2026-04-29] v3.75: written-consent transaction; approval_pct NULL by design per protocol \u00a73.7. Standard derived from DGCL \u00a7228. Per-firm consent threshold pincite pending PRE 14C / 8-K review.",
  "edgar_accession": "0001140361-25-003654",
  "edgar_accession_note": null,
  "links": [
    {
      "label": "IR",
      "url": "https://investors.dropbox.com/",
      "link_type": "ir"
    },
    {
      "label": "EDGAR",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001467623&type=&dateb=&owner=include&count=40",
      "link_type": "search"
    },
    {
      "label": "Proxy",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001467623&type=DEF+14A&dateb=&owner=include&count=40",
      "link_type": "search"
    }
  ],
  "car": {
    "value": 0.02463460137603296,
    "significant_5pct": 0,
    "specification": "panel_A_pooled_3primary",
    "source": "05_REVIEWER_AUDIT_PACKAGE/code/panelA_CAR_BHAR_matrix_v2.3.csv",
    "status": "ESTIMATED",
    "pooled_3primary": 0.02463460137603296,
    "t0_a": 0.01922727460023307,
    "t0_b": 0.01968616570005128,
    "t0_c": -0.01427883892425139,
    "announce": {
      "value": 0.01922727460023307,
      "pvalue": null,
      "specification": "panel_A_T0_announcement",
      "event_date": null
    },
    "vote": {
      "value": 0.01968616570005128,
      "pvalue": null,
      "specification": "panel_A_T0_vote",
      "event_date": null
    }
  },
  "votes_for": null,
  "votes_against": null,
  "votes_abstain": null,
  "votes_broker_nonvote": null,
  "approval_pct": null,
  "votes_for_disinterested": null,
  "votes_against_disinterested": null,
  "votes_abstain_disinterested": null,
  "votes_broker_nonvote_disinterested": null,
  "approval_pct_disinterested": null,
  "approval_basis_disinterested": null,
  "announcement_PRE_14A_accession": null,
  "announcement_PRE_14A_url": null,
  "vote_source_8k_accession": "0001140361-25-002654",
  "vote_source_8k_url": "https://www.sec.gov/Archives/edgar/data/1467623/000114036125002654/ny20042422x1_pre14c.htm",
  "vote_proposal_title": null,
  "meeting_type": null,
  "approval_standard": "majority of voting power of outstanding shares entitled to vote (written consent under DGCL \u00a7228 or state equivalent)",
  "companion_proposal": null,
  "proxy_advisors": null,
  "management_response": null,
  "press_coverage": [],
  "prior_vote": null,
  "panel_a_tx_incumbent": 0,
  "panel_b_dexit_mover": 1,
  "texas_statutory_adoptions": {
    "tboc_21_552": {
      "name": "SB 29 \u2014 TBOC \u00a721.552 derivative threshold",
      "adopted": 0,
      "source": null,
      "url": null,
      "date": null
    },
    "tboc_21_373": {
      "name": "SB 1057 \u2014 TBOC \u00a721.373 shareholder-proposal threshold",
      "adopted": null,
      "source": null,
      "url": null,
      "date": null
    }
  },
  "event_study_outcome_json": "{\"event_date\":\"2025-03-05\",\"event_kind\":\"outcome\",\"event_tag\":\"outcome\",\"t0_source_field\":\"actual_effective_date_iso\",\"estimation_window\":\"trailing 240 days; 240 valid after NaN drop\",\"specifications\":[{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":-0.010488124455487115,\"p_value\":0.5482946374766511,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":2.912700800286238e-05,\"beta\":0.9731186849806408,\"r2\":0.17637967845901736,\"sigma\":0.017379791015715677},\"is_headline\":true}],\"_meta\":{\"n_valid_pre_days\":240},\"_source\":\"Source B: phase4v3 NaN-safe runner (outcome/vote window, 2026-04-29 yfinance pull); joined by phase5z_join_full_battery.py\"}",
  "announcement_source_type": null,
  "announcement_accession_verified": "N",
  "date_quality_flag": "LOW",
  "controlled": 1,
  "controller_pct_voting_power": 35.0,
  "controller": "Drew Houston + Arash Ferdowski",
  "controller_source": "Co-founder control, LIKELY",
  "event_study_longrun_json": "{\"event_kind\":\"longrun\",\"event_date\":\"2025-03-05\",\"t0_source_field\":\"actual_effective_date_iso\",\"horizons\":[{\"label\":\"BHAR_21d\",\"lay_label\":\"1 month\",\"horizon_days\":21,\"n_days_available\":21,\"bhar_vs_spy\":0.09611937324717001,\"bhar_vs_sector\":0.13670887189025904,\"sector_etf\":\"XLK\",\"patell\":{\"car\":0.1339074580886658,\"z\":1.254587225685352,\"p_value\":0.20962864313764706,\"n\":21}},{\"label\":\"BHAR_63d\",\"lay_label\":\"3 months\",\"horizon_days\":63,\"n_days_available\":63,\"bhar_vs_spy\":0.08427465175921234,\"bhar_vs_sector\":0.03880945209923681,\"sector_etf\":\"XLK\",\"patell\":{\"car\":0.16898972528596168,\"z\":0.9141043332966063,\"p_value\":0.3606620257868258,\"n\":63}},{\"label\":\"BHAR_126d\",\"lay_label\":\"6 months\",\"horizon_days\":126,\"n_days_available\":126,\"bhar_vs_spy\":-0.00178788432276078,\"bhar_vs_sector\":-0.07124705071796167,\"sector_etf\":\"XLK\",\"patell\":{\"car\":0.1748587929226532,\"z\":0.6688179894741103,\"p_value\":0.5036115897657449,\"n\":126}},{\"label\":\"BHAR_252d\",\"lay_label\":\"12 months\",\"horizon_days\":252,\"n_days_available\":252,\"bhar_vs_spy\":-0.14887673676500324,\"bhar_vs_sector\":-0.2291097317272992,\"sector_etf\":\"XLK\",\"patell\":{\"car\":0.22040546218330515,\"z\":0.5961119462235653,\"p_value\":0.5511004440694462,\"n\":252}}],\"calendar_time_alpha\":{\"vs_spy\":{\"alpha_daily\":-0.000807951349100109,\"alpha_annualized\":-0.18428156218670277,\"t_stat\":-0.9326193155798506,\"p_value\":0.3510165568013758,\"n_days\":290,\"se_type\":\"Newey-West HAC, lag=5\"},\"vs_sector\":{\"alpha_daily\":-0.0008469284001366685,\"alpha_annualized\":-0.19226107568762696,\"t_stat\":-0.9504127009758598,\"p_value\":0.34190259288475844,\"n_days\":290,\"se_type\":\"Newey-West HAC, lag=5\"}},\"estimation_window\":\"trailing 240 days; market-model alpha+beta for Patell-z baseline\",\"_meta\":{\"n_post_days_available\":290,\"elapsed_days\":421,\"as_of\":\"2026-04-30\"},\"_source\":\"phase5z_compute_longrun.py; yfinance pull at run time\"}",
  "_evidence_strength": {
    "badge": "SILVER",
    "score": 75,
    "max": 100,
    "components": {
      "source_confidence": 30,
      "vote_totals": 0,
      "effective_date": 20,
      "car_estimate": 10,
      "edgar_accession": 15
    }
  },
  "_context_callout": "Standard cohort firm (Completed). Included for breadth across destinations and sectors.",
  "_generated_at": "2026-04-30"
}