Dropbox Gave Three Executives $190 Million Stock Before IPO

Dropbox Inc. granted about $190 million in stock awards to three top executives last year as the file-sharing company prepared for an initial public offering.

Chief Executive Officer Drew Houston received restricted shares worth $109.6 million, according to the company’s registration statement for an IPO filed Feb. 23. Arash Ferdowsi, who co-founded the firm with Houston, was handed stock worth $46.7 million. Their shares will vest if Dropbox’s stock achieves a series of price hurdles ranging from $20 to $60 within a decade of the offering’s close, the filing said.

Quentin Clark, who joined last year to oversee engineering, product ...