Just that batch would be worth $62 million at that price. After January 1 - and the lock-up period passes on insider selling - some 3.1 million of Houston's shares will vest if Dropbox's shares hit $20. He could begin reaping some of the rewards from the grant as early as next year. It will vest over the next four to 10 years, depending on the company's stock hitting certain price targets under Houston's stewardship.
But the bulk of his salary came in the form of a restricted stock grant.ĭropbox valued that grant - 15.5 million shares, all in all - at $109.6 million, figuring each share was worth about $7.07. The breakdown: Houston made $400,000 in base salary, plus a $260,000 cash bonus.
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