Abhay Parasnis
DROPBOXAbout Abhay Parasnis
Independent director of Dropbox (DBX) since March 2022; age 50. CEO of Typeface Inc. (enterprise AI) since May 2022; formerly CTO and EVP at Adobe with additional roles as Chief Strategy Officer and Chief Product Officer. Serves on the board of Schneider Electric SE (Euronext Paris). Education: B.S. in Electronics & Telecommunications (College of Engineering Pune) and an Advanced Diploma in Computer Science (NIIT) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Adobe Inc. | Chief Technology Officer; Executive Vice President; Chief Strategy Officer; Chief Product Officer | Jul 2015–Feb 2022 (CTO/EVP); CSO Feb–Dec 2020; CPO Dec 2020–Feb 2022 | Led technology and multi-product portfolio expansion |
| Kony, Inc.; Oracle Corporation; Microsoft Corporation | Executive roles | Prior to 2015 | Senior operating roles in large-scale software businesses |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Typeface Inc. (private) | Chief Executive Officer | Since May 2022 | Enterprise AI solutions |
| Schneider Electric SE (SU:FP) | Director | Ongoing | Public company board service |
Board Governance
- Independence: Determined independent under Nasdaq listing rules .
- Committee assignments (2024): Talent & Compensation Committee member (the committee met 5x in 2024; chaired by Sara Mathew in 2024, with Paul Jacobs to succeed as chair after the 2025 annual meeting) .
- Board attendance: In 2024, the board met 7 times; each director attended at least 75% of board and applicable committee meetings .
- Stock ownership guidelines: Independent directors must hold 5x the annual cash retainer within 5 years; all independent directors are in compliance or not yet required as of the policy timeline .
| Governance Item | Detail |
|---|---|
| Director since | 2022 |
| Independence | Independent (Nasdaq) |
| Committees | Talent & Compensation (member) |
| 2024 Meeting cadence | Board: 7; Talent & Compensation: 5 |
| Attendance threshold | ≥75% for all directors in 2024 |
Fixed Compensation (Non‑Employee Director)
- Policy structure (2024/2025):
- Annual cash retainer: $50,000
- Committee membership fees: Talent & Comp member $10,000 (chair $20,000); Audit member $12,500 (chair $30,000); Nominating & Gov member $5,000 (chair $15,000); Lead independent director $35,000
- Annual equity: RSUs with grant‑date fair value $250,000; 1‑year vest; deferral available; full vest on change in control .
| 2024 Director Pay for Abhay Parasnis | Amount ($) |
|---|---|
| Fees Paid or Earned in Cash | 60,000 |
| Stock Awards (grant date fair value) | 250,005 |
| Total | 310,005 |
Notes: Cash reflects $50,000 retainer + $10,000 Talent & Compensation committee member fee under policy .
Performance Compensation
- Dropbox does not use performance‑based metrics for director compensation; non‑employee directors receive time‑based RSUs and cash retainers as described above .
Other Directorships & Interlocks
| Company | Listing | Role | Interlocks/Notes |
|---|---|---|---|
| Schneider Electric SE | Euronext Paris | Director | No Dropbox related‑party transactions disclosed |
Expertise & Qualifications
- Technical/product leadership: Former Adobe CTO; CEO of AI company Typeface .
- Operating experience: Senior roles at Oracle and Microsoft .
- Governance/compensation oversight: Member of Dropbox’s Talent & Compensation Committee; signatory to the committee’s 2025 report .
Equity Ownership
- Beneficial ownership (as of Mar 31, 2025): 25,165 Class A shares; <1% of outstanding; includes standard beneficial ownership as defined by SEC rules .
- Unvested director RSUs (as of Dec 31, 2024): 10,478 RSUs (vesting on May 16, 2025 or day before next annual meeting) .
- Ownership guidelines: 5x annual cash retainer within 5 years; directors in compliance or not yet required as of policy timeline .
- Hedging/pledging: Prohibited for employees and non‑employee directors under company policy .
| Ownership Snapshot | Detail |
|---|---|
| Beneficial Class A shares | 25,165 (3/31/2025) |
| Unvested director RSUs | 10,478 (12/31/2024) |
| Hedging/Pledging | Prohibited |
| Director ownership guideline | 5x cash retainer; 5‑year compliance window |
Insider Trades (Section 16)
| Date (Trans.) | Type | Shares | Price | Post‑Trans. Beneficial Ownership | Notes |
|---|---|---|---|---|---|
| 2025‑09‑05 | Sale (S) | 1,782 | $29.50 | 38,740 | Disclosed as under a Rule 10b5‑1 plan adopted 2025‑05‑21 |
| 2025‑08‑20 | RSUs (A) | — | — | — | Form 4 indicates RSUs vest through 2026‑05‑15 or day prior to next annual meeting; unvested cancel if service ends |
Additional Form 4 filing: reported on 2025‑05‑15 for Abhay Parasnis (Dropbox investor site filing access) .
Governance Assessment
- Board effectiveness and independence: Parasnis is an independent director with deep product/AI expertise, serving on the Talent & Compensation Committee that met five times in 2024; the board reports robust evaluation practices and all directors met ≥75% attendance in 2024, supporting engagement and oversight .
- Compensation alignment: Director pay emphasizes equity (annual $250k RSU) over cash, with reasonable retainers and committee fees; RSUs vest annually and fully vest on change in control, consistent with peer practices; deferral available .
- Shareholder alignment and pay governance: Say‑on‑Pay support was 98.3% in 2024, indicating strong investor support for compensation programs overseen by the Talent & Compensation Committee .
- Conflicts/related parties: Company reports no related‑party transactions since the beginning of the last fiscal year; hedging/pledging prohibited; stock ownership guidelines in place for directors .
- Risk indicators: No red flags disclosed regarding attendance, related‑party dealings, or insider policy exceptions. Insider sale in 2025 conducted under a pre‑arranged 10b5‑1 plan; continuing RSU awards disclosed on Form 4s .