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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

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We thank you for your continuedsupport and partnership on ourmission to power how the worldworks together and to help ourcustomers during these challengingtimes.

  

—AaronLevie 

May28,2020

DearFellowStockholders,

AtBox,ourmissionistopowerhowtheworldworkstogether.InFY20,wecontinuedtohelpourcustomers,includingBTGroup,Intuit,MGMStudios,MorganStanley,NHL,andU.S.ForestService,transformtheirbusinesseswithcloudcontentmanagement.

Wealsopositionedourselvesforlongtermgrowthandprofitability.Revenuegrew14%to$696millionyearoveryear,andwedeliveredourfirstfullyearofnon-GAAPprofitabilitywithnon-GAAPearningspershareof$0.03,upfromalosspershareof$0.12intheprioryear.Atthesametime,wemademeaningfulprogresstodrivemoreefficiencyacrossouroperations.TheseeffortshavealreadybeguntoyieldpositiveresultsandweexpectthemtohaveameaningfulimpacttoourfinancialperformanceinFY21andbeyond.

COVID-19Response

ThesearechallengingandunprecedentedtimesforallofusandIhopeyouandyourfamilyareallstayingsafeandhealthy.Whilethereisnoplaybookoroperatingmanualthatwecanfollow,we'vebeenactivelymonitoringCOVID-19developmentsandtakingproactivemeasuresearlytoprotectthehealthandsafetyofouremployees,whilelookingoutforcustomersbydeliveringtheresiliencyanduninterruptedserviceofourplatformtoenablesecure,remoteworkthroughBox.

TheCOVID-19pandemichasfundamentallychangedthewaybusinessesoperate.Ithasbroughttolighttheneedformoreorganizationstodevelopremoteworkstrategiestoenablesecurecollaborationandefficientbusinesscontinuityacrossadistributedworkforce.

Nearly100,000customers-includinghealthcareproviders,banks,disasterrelieforganizations,andgovernmentagencies-relyonBoxtodayformissioncriticalinfrastructuretopowertheirwork.Forexample,againstthebackdropofCOVID-19,theUSDAchoseBoxtopowertheorganization’ssecureremoteworkinitiativesandhelpdigitizeoperationswithin2,500farmservicecentersacrossthecountry.Weare100%committedtobeingthestrongestpartnerpossibleforourcustomersandarehonoredtohelpcustomerssuchastheUSDAfulfilltheirmissionsduringthesechallengingtimes.

OurMarketOpportunity

Everyenterpriseisgoingthroughsignificantdigitaltransformationtobetterservecustomersandemployees.Now,morethanever,companiesarere-imaginingtheirworkstylestoenableemployeestoworkfromanywhere,withanyone,inasecureway.Remoteworkandurgentdigitaltransformationstrategieshaveforcedenterprisestocompletelyrethinkhowtheymanage,share,secure,anddriveworkflowsaroundtheircriticalbusinesscontent.

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Legacyapproachesnolongerwork,especiallygiventhespeedatwhichbusinessesneedtotransformtheirworkstylesandprocessestoday.We’vebuilttheonlyplatformthatcantrulyhelpenterprisessolvethesechallenges.Overthepastfewyears,we’vebeenbuildingthecategory-definingcloudcontentmanagementplatform,focusedonourthreekeydifferentiators:(1)frictionlesssecurityandcompliance;(2)secureexternalandinternalcollaborationandworkflow;and(3)world-classintegrationsandAPIsthatextendthevalueoftheBoxplatform.Weareproudtohaveachievedasignificantmilestoneinthatjourneybybeingnamedaleaderbyallthreemajoranalystfirms–Gartner,ForresterandIDC.

Weremainexcitedbythesizeofthemarketwe’regoingafter,andwe’reinthebestpositiontohelpenterprisestransformhowtheyworkanddigitizetheirbusinessesgoingforward.

DrivingProfitableGrowth

InFY20,welaidthefoundationtodriveasignificantlygreaterbalanceofgrowthandprofitabilityforFY21andbeyondwithafocusondeliveringgrowthmoreefficientlyandimplementingsignificantcostdisciplinechangesinthebusiness.Welaunchedournativeworkflowsolution,BoxRelay,andthemostadvancedcontentsecuritytechnology,BoxShield,inFY20,enablingustodeliverourpowerfulcloudcontentmanagementsuiteofproductstothemarket.Toefficientlydriveadoptionofourmorerobustproductoffering,werefinedourgo-to-marketstrategybyfocusingonexpandingtheuseofBoxwithinourlargeexistingcustomerbase,whilealsodrivingnewlogoacquisitionthroughourdirect,digitalandpartnerchannels.

Todrivegreaterprofitabilityaswescale,wereallocatedresourcestosupporthigherROIsegmentsandregions,focusedondeliveringbettergrossmarginsbyimprovingthecosttoserve,andimplementedanongoingplantorationalizeexpensesacrossthebusiness.Ourincreasedfocusoncostdiscipline,alongwiththenewinitiativeswelaunchedlastyear,willserveuswellamidstahighlydynamiceconomicenvironment.

Environmental,SocialandGovernance

Sinceourfounding,we’veputsignificantfocusonbuildingandmaintaininganunparalleledcultureatBox.TogetherwiththeBoxcommunity,ourboardofdirectorsandleadershipteamhavebeendedicatedtocultivatinganopen,inclusiveandcollaborativeenvironmentwhereemployeescandotheirbestwork.We’reproudtohaverecentlybeenrecognizedforthesecondyearinarowasoneofFortuneMagazine’stop100placestowork.

Andjustaswearefocusedoncontinuingtobringonworld-classtalentinthebusiness,we’realsocontinuingtobuildoutaworld-classboard,includingtheadditionofsixnew,highlyexperiencedboardmembersoverthepastcoupleofyears.Wearealsodeeplyfocusedonourcommunityandthebroaderworldaroundus.WithBox.org,wehavecommittedBox’stechnology,time,andresourcestosupportthousandsofamazingnon-profitorganizationsdoinggoodaroundtheworld.Weareproudtoworkwithnonprofitsaswide-rangingastheInternationalRescueCommitteeandOxfamtohelpthemaccomplishtheirprofoundmissionsofhelpingthemostvulnerableduringtimesofgreatneed.Thesepartnershipswillbeevenmorecriticalinlightofthedeeplychallenginghealthandeconomicenvironmentwe’venowentered.

Wealsocaredeeplyabouttheenvironmentandbuildingalastingfuturewecanallthrivein.Givenourplatformisbuiltonacloudarchitecture,alargepartofourmissionhasbeentomoveorganizationsfromlegacyorpaper-basedprocessesontoBox,sotheycanworksecurelyandefficientlyfromanywhere.WearealsofocusedoncontinuingtoreduceourcarbonfootprintthroughgreeninitiativesledbyBoxemployeesandourtransitiontodatacentersthatgenerateasignificantportionoftheirenergyfromrenewableresources.

Wearedeeplycommittedtobuildingaworld-classorganizationtohelpourcustomerstransformtheirbusinesses.And,whilewe’repleasedwiththeprogresswe’vemadetodate,weremaininsanelyfocusedondeliveringhealthy,long-termgrowthrates,andondrivingsignificantlymorenon-GAAPprofitabilityinFY21andbeyond.

 AARONLEVIE

Cofounder, Chairman and CEO

Box, Inc.

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NOTICEOFANNUALMEETINGOFSTOCKHOLDERS

 

ToBeHeldat1:30p.m.PacificTimeonWednesday,July15,2020DATEANDTIME: Wednesday,July15,2020at1:30p.m.PacificTime

   

PLACE: Thisyear’sAnnualMeetingwillbeacompletelyvirtualmeetingofstockholders.YoucanattendtheAnnualMeetingbyvisitinghttp://www.virtualshareholdermeeting.com/BOX2020whereyouwillbeabletolistentothemeetinglive,submitquestionsandvoteonline.

   

ITEMSOFBUSINESS:

1. ToelectthreeClassIIIdirectorstoserveuntilthe2023annualmeetingofstockholdersanduntiltheirsuccessorsaredulyelectedandqualified;

   

2. Toapprove,onanadvisorybasis,thecompensationofournamedexecutiveofficers;   

3. ToratifytheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmforourfiscalyearendingJanuary31,2021;and

   

4. TotransactsuchotherbusinessthatmayproperlycomebeforetheAnnualMeetingoranyadjournmentsorpostponementsthereof.

   

RECORDDATE: OurboardofdirectorshasfixedthecloseofbusinessonMay20,2020astherecorddatefortheAnnualMeeting(the“RecordDate”).OnlystockholdersofrecordonMay20,2020areentitledtonoticeofandtovoteattheAnnualMeeting.Furtherinformationregardingvotingrightsandthematterstobevoteduponispresentedintheaccompanyingproxystatement.

   

PROXYVOTING: YOURVOTEISIMPORTANT.WhetherornotyouplantoattendtheAnnualMeeting,weurgeyoutosubmityourvoteviatheInternet,telephoneormailassoonaspossibletoensureyoursharesarerepresented.ForadditionalinstructionsonvotingbytelephoneortheInternet,pleaserefertoyourproxycard.ReturningtheproxydoesnotdepriveyouofyourrighttoattendtheAnnualMeetingandtovoteyoursharesattheAnnualMeeting.

OnoraboutMay28,2020,weexpecttomailtoourstockholdersaNoticeofInternetAvailabilityofProxyMaterials(the“Notice”)containinginstructionsonhowtoaccessourproxystatementandannualreport.TheNoticeprovidesinstructionsonhowtovoteviatheInternetorbytelephoneandincludesinstructionsonhowtoreceiveapapercopyofourproxymaterialsbymail.TheaccompanyingproxystatementandourannualreportcanbeaccesseddirectlyatthefollowingInternetaddress:https://materials.proxyvote.com/10316T.Youwillbeaskedtoenterthesixteen-digitcontrolnumberlocatedonyourNoticeorproxycard.

WeappreciateyourcontinuedsupportofBox.

May28,2020

RedwoodCity,California

ByorderoftheBoardofDirectors,

 

 AaronLevie

Cofounder,ChairmanandCEO

ImportantNoticeRegardingtheAvailabilityofProxyMaterialsfor

theAnnualMeetingofShareholdersToBeHeldonJuly15,2020

TheNoticeofAnnualMeeting,ProxyStatementandAnnualReportfor

thefiscalyearendedJanuary31,2020areavailableathttps://materials.proxyvote.com/10316T.

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PROXYSUMMARY 1

QUESTIONSANDANSWERSABOUTTHEPROXYMATERIALSANDOURANNUALMEETING 4

BOARDOFDIRECTORSANDCORPORATEGOVERNANCE 10NomineesforDirector 10ContinuingDirectors 12DirectorIndependence 16BoardLeadershipStructure 16LeadIndependentDirector 16BoardMeetingsandCommittees 16CompensationCommitteeInterlocksandInsiderParticipation 18ConsiderationsinEvaluatingDirectorNominees 18StockholderRecommendationsforNominationstotheBoardofDirectors 19CommunicationswiththeBoardofDirectors 19CorporateGovernanceGuidelinesandCodeofBusinessConductandEthics 20RiskManagement 20Corporate,Environmental,andSocialResponsibility 21DirectorCompensation 24

PROPOSALNO.1ELECTIONOFDIRECTORS 26Nominees 26VoteRequired 27

PROPOSALNO.2ADVISORYVOTEONTHECOMPENSATIONOFOURNAMEDEXECUTIVEOFFICERS 28VoteRequired 28

PROPOSALNO.3RATIFICATIONOFAPPOINTMENTOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM 29FeesPaidtotheIndependentRegisteredPublicAccountingFirm 29AuditorIndependence 29AuditCommitteePolicyonPre-ApprovalofAuditandPermissibleNon-AuditServicesofIndependentRegisteredPublicAccountingFirm 29

VoteRequired 30

REPORTOFTHEAUDITCOMMITTEE 31

EXECUTIVEOFFICERS 32

EXECUTIVECOMPENSATION 33CompensationDiscussionandAnalysis 33ExecutiveSummary 33ProcessesandProceduresforCompensationDecisions 35PeerGroupCompensationData 36ExecutiveCompensationProgramElements 37OtherCompensationPolicies 42TaxandAccountingConsiderations 42SummaryCompensationTableforFiscalYear2020 45GrantsofPlan-BasedAwardsinFiscalYear2020 45OutstandingEquityAwardsat2020FiscalYear-End 46OptionExercisesandStockVestedinFiscalYear2020 47PensionBenefits&NonqualifiedDeferredCompensation 47

PotentialPaymentsuponTerminationorChangeofControl 47CEOPayRatio 49

 

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EQUITYCOMPENSATIONPLANINFORMATION 51

SECURITYOWNERSHIPOFCERTAINBENEFICIALOWNERSANDMANAGEMENT 52

RELATEDPERSONTRANSACTIONS 54Transactions 54PoliciesandProceduresforRelatedPartyTransactions 55

OTHERMATTERS 56FiscalYear2020AnnualReportandSECFilings 56

 

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Atour2020AnnualMeetingofStockholders,weareaskingstockholderstovoteonthreekeyitems.Thissectionhighlightsinformationcontainedinotherpartsofthisproxystatement.Weencourageyoutoreviewtheentireproxystatementformoredetailontheseitems,aswellasourAnnualReportforthefiscalyearendedJanuary31,2020.

ItemsofBusinessforVoteatourRegularMeetingofShareholders

WeareholdingtheAnnualMeetingforthefollowingpurposes,asmorefullydescribedinthisproxystatement:

Proposal

Number Description BoardRecommendation

1 ElectionofDirectors FOREachNominee

ToelectthreeClassIIIdirectorstoserveuntilthe2023annualmeetingofstockholdersanduntiltheirsuccessorsaredulyelectedandqualified

2 AdvisoryVoteontheCompensationofourNamedExecutiveOfficers FOR

Toapprove,onanadvisorybasis,thecompensationofournamedexecutiveofficers.

3 RatificationofAppointmentofIndependentRegisteredPublicAccountingFirm FOR

ToratifytheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmforourfiscalyearendingJanuary31,2021.

AttendingtheMeeting

How will the Annual Meeting be conducted?

TheAnnualMeetingwillbeacompletelyvirtualmeetingofstockholders.YoucanattendtheAnnualMeetingbyvisitingwww.virtualshareholdermeeting.com/BOX2020,whereyouwillbeabletolistentothemeetinglive,submitquestionsandvoteonline.YourNoticeofInternetAvailabilityofProxyMaterialscontainsinstructionsonhowtoaccesstheAnnualMeeting.Stockholdersmustenterthecontrolnumberfoundontheirproxycard,votinginstructionformornoticepreviouslyreceivedtogainaccesstothevirtualmeetingplatform.

How can I ask questions during the Annual Meeting?

Thevirtualformatallowsstockholderstocommunicatewithusinadvanceof,andduring,theAnnualMeetingsotheycanaskquestionsofourboardofdirectorsormanagement.DuringtheAnnualMeeting,wewillanswerquestionssubmittedduringtheAnnualMeetingandaddressthoseaskedinadvance,totheextentrelevanttothebusinessoftheAnnualMeeting,astimepermits.StockholderquestionsmaybesubmittedinthefieldprovidedinthewebportalatorbeforethetimethatmattersarebroughtbeforetheAnnualMeetingforconsideration.

What can I do if I need technical assistance during the Annual Meeting?

IfyouencounteranydifficultiesaccessingtheAnnualMeetingduringthecheck-inormeetingtime,pleasecallthetechnicalsupportnumberthatwillbepostedontheAnnualMeetinglog-inpage.

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If I can’t attend the Annual Meeting, can I vote or listen to it later?

YoudonotneedtoattendtheonlineAnnualMeetingtovoteifyousubmittedyourvoteviaproxyinadvanceofthemeeting.WhetherornotstockholdersplantoattendtheAnnualMeeting,weurgestockholderstovoteandsubmittheirproxyinadvanceoftheAnnualMeetingbyoneofthemethodsdescribedintheproxymaterials.AreplayoftheAnnualMeeting,includingthequestionsansweredduringthemeeting,willbeavailableatwww.virtualshareholdermeeting.com/BOX2020within24hoursofthemeeting.

AdditionalinformationabouthowtovoteyoursharesandattendtheAnnualMeetingcanbefoundinthe“QuestionsandAnswersabouttheProxyMaterialsandOurAnnualMeeting”sectionofthisproxystatement.

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DIRECTORSANDDIRECTORNOMINEESThefollowingtableprovidessummaryinformationabouteachdirectornomineeandourotherdirectorsasofMarch31,2020.

Name AgeDirector

Since Independent Class

CurrentTerm

Expires AC CC NCGC OC SkillsandExperience

SueBarsamian 60 2018 Yes III 2020

 

CarlBass 62 2020 Yes III 2020

 

JackLazar 54 2020 Yes III 2020

 

CONTINUINGDIRECTORS:

DanaEvan 60 2011 Yes I 2021

 

PeterLeav 49 2019 Yes I 2021

 

AaronLevie 35 2005 No I 2021

 

KimHammonds 52 2018 Yes II 2022

 

DanLevin 56 2010 No II 2022

 

BethanyMayer 58 2020 Yes II 2022  NON-CONTINUINGDIRECTORS:

RoryO’Driscoll 55 2010 Yes III 2020

 

DylanSmith 34 2005 No III 2020

 

JoshStein 46 2006 Yes II 2022

 

Chairperson ExecutiveManagementandLeadership

Member Technology

* Ifelected,termwillexpirein2023. Operations

AC AuditCommittee Go-To-Market

CC CompensationCommittee CorporateGovernance/PublicCompanyBoard

NCGC NominatingandCorporateGovernanceCommittee Finance/Investment/Accounting

OC OperatingCommittee EnterpriseIT

 

DIRECTORNOMINEES*

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BOX,INC.

PROXYSTATEMENT

FOR2020ANNUALMEETINGOFSTOCKHOLDERS

ToBeHeldat1:30p.m.PacificTimeonWednesday,July15,2020

Thisproxystatementandtheenclosedformofproxyarebeingprovidedtoyouinconnectionwiththesolicitationofproxiesbyourboardofdirectors(the“BoardofDirectors”)foruseatthe2020annualmeetingofstockholdersofBox,Inc.(“Box”or“thecompany”),aDelawarecorporation,andanypostponements,adjournmentsorcontinuationsthereof(the“AnnualMeeting”).TheAnnualMeetingwillbeheldvirtuallyonWednesday,July15,2020at1:30p.m.PacificTime.YoucanattendtheAnnualMeetingbyvisitingwww.virtualshareholdermeeting.com/BOX2020,whereyouwillbeabletolistentothemeetinglive,submitquestionsandvoteonline.TheNoticeofInternetAvailabilityofProxyMaterials(the“Notice”)containinginstructionsonhowtoaccessthisproxystatementandourannualreportisfirstbeingmailedonoraboutMay28,2020toallstockholdersentitledtovoteattheAnnualMeeting.

QUESTIONSANDANSWERSABOUTTHEPROXYMATERIALSANDOURANNUALMEETINGTheinformationprovidedinthe“questionandanswer”formatbelowisforyourconvenienceonlyandismerelyasummaryoftheinformationcontainedinthisproxystatement.Youshouldreadthisentireproxystatementcarefully.Informationcontainedon,orthatcanbeaccessedthrough,ourwebsiteisnotintendedtobeincorporatedbyreferenceintothisproxystatementandreferencestoourwebsiteaddressinthisproxystatementareinactivetextualreferencesonly.

Why are we holding a virtual Annual Meeting?

Similartopreviousyears,thisyearwehaveimplementedavirtualformatforourAnnualMeeting,whichwillbeconductedvialiveaudiowebcastandonlinestockholdertools.Webelieveavirtualformathelpstofacilitatestockholderattendanceandparticipationbyenablingstockholderstoparticipatefully,andequally,fromanylocationaroundtheworld,atnocost(otherthananycostsassociatedwithyourInternetaccess,suchasusagechargesfromInternetaccessprovidersandtelephonecompanies).OurvirtualmeetingthisyearalsoprotectsthesafetyofeveryoneinlightoftheCOVID-19outbreak.AvirtualAnnualMeetingmakesitpossibleformorestockholders(regardlessofsize,resourcesorphysicallocation)tohavedirectaccesstoinformationmorequickly,whilesavingthecompanyandourstockholderstimeandmoney,especiallyasphysicalattendanceatmeetingshasdwindled.Wealsobelievethattheonlinetoolswehaveselectedwillincreasestockholdercommunication.Forexample,thevirtualformatallowsstockholderstocommunicatewithusinadvanceof,andduring,theAnnualMeetingsotheycanaskquestionsofourboardofdirectorsormanagement.DuringtheAnnualMeeting,wewillanswerquestionssubmittedduringtheAnnualMeetingandaddressthoseaskedinadvance,totheextentrelevanttothebusinessoftheAnnualMeeting,astimepermits.

What matters am I voting on?

Youwillbevotingon:

• theelectionofthreeClassIIIdirectorstoserveuntilour2023annualmeetingofstockholdersanduntiltheirsuccessorsaredulyelectedandqualified;

• aproposaltoapprove,onanadvisorybasis,thecompensationofournamedexecutiveofficers;• aproposaltoratifytheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccounting

firmforourfiscalyearendingJanuary31,2021;and• anyotherbusinessasmayproperlycomebeforetheAnnualMeetingoranyadjournmentsor

postponementsthereof.

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How does the Board of Directors recommend I vote on these proposals?

OurBoardofDirectorsrecommendsavote:

• “FOR”theelectionofSueBarsamian,CarlBass,andJackLazarasClassIIIdirectors;• “FOR”theapproval,onanadvisorybasis,ofthecompensationofournamedexecutiveofficers;and• “FOR”theratificationoftheappointmentofErnst&YoungLLPasourindependentregisteredpublic

accountingfirmforourfiscalyearendingJanuary31,2021.

Who is entitled to vote?

HoldersofourClassAcommonstockasofthecloseofbusinessonMay20,2020(the“RecordDate”)mayvoteattheAnnualMeeting.AsoftheRecordDate,therewere153,449,784sharesofourClassAcommonstockoutstandingandentitledtovote.EachstockholderwillbeentitledtoonevoteoneachproposalforeachshareofourClassAcommonstockheldbythemontheRecordDate.Stockholdersarenotpermittedtocumulatevoteswithrespecttotheelectionofdirectors.OurClassAcommonstockisreferredtointhisproxystatementasourcommonstock.

Registered Stockholders.Ifsharesofourcommonstockareregistereddirectlyinyournamewithourtransferagent,youareconsideredthestockholderofrecordwithrespecttothosesharesandtheNoticewasprovidedtoyoudirectlybyus.Asthestockholderofrecord,youhavetherighttograntyourvotingproxydirectlytotheindividualslistedontheproxycardortovoteliveattheAnnualMeeting.Throughoutthisproxystatement,werefertotheseregisteredstockholdersas“stockholdersofrecord.”

Street Name Stockholders.Ifsharesofourcommonstockareheldonyourbehalfinabrokerageaccountorbyabankorothernominee,youareconsideredtobethebeneficialownerofsharesthatareheldin“streetname,”andtheNoticewasforwardedtoyoubyyourbroker,bankorothernominee,whoisconsideredthestockholderofrecordwithrespecttothoseshares.Asthebeneficialowner,youhavetherighttodirectyourbroker,bankorothernomineeastohowtovoteyourshares.BeneficialownersarealsoinvitedtoattendtheAnnualMeeting.However,sinceabeneficialownerisnotthestockholderofrecord,youmaynotvoteyoursharesliveattheAnnualMeetingunlessyoufollowyourbroker,bankorothernominee’sproceduresforobtainingalegalproxy.Ifyourequestaprintedcopyofourproxymaterialsbymail,yourbroker,bankorothernomineewillprovideavotinginstructionformforyoutouse.Throughoutthisproxystatement,werefertostockholderswhoholdtheirsharesthroughabroker,bankorothernomineeas“streetnamestockholders.”

How many votes are needed for approval of each proposal?

• Proposal No. 1:TheelectionofdirectorsrequiresapluralityofthevotingpowerofthesharesofourcommonstockpresentvirtuallyorbyproxyattheAnnualMeetingandentitledtovotethereontobeapproved.“Plurality”meansthatthenomineeswhoreceivethelargestnumberofvotescast“For”suchnomineesareelectedasdirectors.Asaresult,anysharesnotvoted“For”aparticularnominee,whetherasaresultofstockholderabstentionorabrokernon-vote,willnotbecountedinsuchnominee’sfavorandwillhavenoeffectontheoutcomeoftheelection.Youmayvote“For”or“Withhold”oneachofthenomineesforelectionasadirector.

• Proposal No. 2:Theapproval,onanadvisorybasis,ofthecompensationofournamedexecutiveofficers,requirestheaffirmativevoteofatleastamajorityofthevotingpowerofourcommonstockpresentvirtuallyorbyproxyattheAnnualMeetingandentitledtovotethereontobeapproved.Youmayvote“For,”“Against,”or“Abstain”withrespecttothisproposal.Abstentionsareconsideredvotespresentandentitledtovoteonthisproposal,andthus,willhavethesameeffectasavote“Against”thisproposal.Brokernon-voteswillhavenoeffectontheoutcomeofthisproposal.However,becausethisproposalisanadvisoryvote,theresultwillnotbebindingonourBoardofDirectorsorourcompany.OurBoardofDirectorsandourCompensationCommitteewillconsidertheoutcomeofthevotewhendeterminingnamedexecutiveofficercompensationinthefuture.

• Proposal No. 3:TheratificationoftheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmforourfiscalyearendingJanuary31,2021,requirestheaffirmativevoteofamajorityofthevotingpowerofthesharesofourcommonstockpresentvirtuallyorbyproxyattheAnnualMeetingandentitledtovotethereontobeapproved.Abstentionsareconsideredvotespresentandentitledtovoteonthisproposal,andthus,willhavethesameeffectasavote“Against”thisproposal.Brokernon-voteswillhavenoeffectontheoutcomeofthisproposal.

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What is a quorum?

AquorumistheminimumnumberofsharesrequiredtobepresentattheAnnualMeetingtoproperlyholdanannualmeetingofstockholdersandconductbusinessunderouramendedandrestatedbylawsandDelawarelaw.Thepresence,virtuallyorbyproxy,ofamajorityofthevotingpowerofallissuedandoutstandingsharesofourcommonstockentitledtovoteattheAnnualMeetingwillconstituteaquorumattheAnnualMeeting.Abstentions,withholdvotesandbrokernon-votesarecountedassharespresentandentitledtovoteforpurposesofdeterminingaquorum.

How do I vote?

Ifyouareastockholderofrecord,therearefourwaystovote:

• byInternetatwww.proxyvote.com,24hoursaday,sevendaysaweek,until11:59p.m.EasternTimeonJuly14,2020(haveyourNoticeorproxycardinhandwhenyouvisitthewebsite);

• bytoll-freetelephoneuntil11:59p.m.EasternTimeonJuly14,2020at1-800-690-6903ifyouarea“registered”stockholderor1-800-454-8683ifyouarea“beneficial”stockholder(besuretohaveyourNoticeorproxycardinhandwhenyoucall);

• bycompletingandmailingyourproxycardsoitisreceivedpriortotheAnnualMeeting(ifyoureceivedprintedproxymaterials);or

• byattendingtheAnnualMeetingbyvisitingwww.virtualshareholdermeeting.com/BOX2020,wherestockholdersmayvoteandsubmitquestionsduringthemeeting(haveyourNoticeorproxycardinhandwhenyouvisitthewebsite).

EvenifyouplantoattendtheAnnualMeeting,werecommendthatyoualsovotebyproxysothatyourvotewillbecountedifyoulaterdecidenottoattendtheAnnualMeeting.

Ifyouareastreetnamestockholder,youwillreceivevotinginstructionsfromyourbroker,bankorothernominee.Youmustfollowthevotinginstructionsprovidedbyyourbroker,bankorothernomineeinordertodirectyourbroker,bankorothernomineeonhowtovoteyourshares.Streetnamestockholdersshouldgenerallybeabletovotebyreturningavotinginstructionform,orbytelephoneorontheInternet.However,theavailabilityoftelephoneandInternetvotingwilldependonthevotingprocessofyourbroker,bankorothernominee.Asdiscussedabove,ifyouareastreetnamestockholder,youmaynotvoteyoursharesattheAnnualMeetingunlessyouobtainalegalproxyfromyourbroker,bankorothernominee.

Can I change my vote?

Yes.Ifyouareastockholderofrecord,youcanchangeyourvoteorrevokeyourproxyanytimebeforetheAnnualMeetingby:

• enteringanewvotebyInternetorbytelephone;• completingandreturningalater-datedproxycard;• notifyingtheSecretaryofBox,Inc.,inwriting,atBox,Inc.,900JeffersonAve.,RedwoodCity,

California94063;or• attendingandvotingattheAnnualMeeting(althoughattendanceattheAnnualMeetingwillnot,byitself,

revokeaproxy).

Ifyouareastreetnamestockholder,yourbroker,bankorothernomineecanprovideyouwithinstructionsonhowtochangeyourvote.

What do I need to do to attend the Annual Meeting?

YouwillbeabletoattendtheAnnualMeetingonline,submityourquestionsduringthemeetingandvoteyourshareselectronicallyatthemeetingbyvisitingwww.virtualshareholdermeeting.com/BOX2020.ToparticipateintheAnnualMeeting,youwillneedthecontrolnumberincludedonyourNoticeorproxycard.TheAnnualMeetingwebcastwillbeginpromptlyat1:30p.m.PacificTimeonJuly15,2020.Weencourageyoutoaccessthemeetingpriortothestarttime.Onlinecheck-inwillbeginat1:15p.m.PacificTime,andyoushouldallowampletimeforthecheck-inprocedures.

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What is the effect of giving a proxy?

ProxiesaresolicitedbyandonbehalfofourBoardofDirectors.AaronLevie,DylanSmith,andDavidLeebhavebeendesignatedasproxyholdersbyourBoardofDirectors.Whenproxiesareproperlydated,executedandreturned,thesharesrepresentedbysuchproxieswillbevotedattheAnnualMeetinginaccordancewiththeinstructionsofthestockholder.Ifnospecificinstructionsaregiven,however,theshareswillbevotedinaccordancewiththerecommendationsofourBoardofDirectorsasdescribedabove.IfanymattersnotdescribedinthisproxystatementareproperlypresentedattheAnnualMeeting,theproxyholderswillusetheirownjudgmenttodeterminehowtovotetheshares.IftheAnnualMeetingisadjourned,theproxyholderscanvotethesharesonthenewAnnualMeetingdateaswell,unlessyouhaveproperlyrevokedyourproxyinstructions,asdescribedabove.

Why did I receive a Notice of Internet Availability of Proxy Materials instead of a full set of proxy materials?

InaccordancewiththerulesoftheSecuritiesandExchangeCommission(“SEC”),wehaveelectedtofurnishourproxymaterials,includingthisproxystatementandourannualreport,primarilyviatheInternet.TheNoticecontaininginstructionsonhowtoaccessourproxymaterialsisfirstbeingmailedonoraboutMay28,2020toallstockholdersentitledtovoteattheAnnualMeeting.Stockholdersmayrequesttoreceiveallfutureproxymaterialsinprintedformbymailorelectronicallybye-mailbyfollowingtheinstructionscontainedintheNotice.WeencouragestockholderstotakeadvantageoftheavailabilityofourproxymaterialsontheInternettohelpreducetheenvironmentalimpactandcostofourannualmeetingsofstockholders.

How are proxies solicited for the Annual Meeting?

OurBoardofDirectorsissolicitingproxiesforuseattheAnnualMeeting.Allexpensesassociatedwiththissolicitationwillbebornebyus.Wewillreimbursebrokers,banksorothernomineesforreasonableexpensesthattheyincurinsendingourproxymaterialstoyouifabroker,bankorothernomineeholdssharesofourcommonstockonyourbehalf.Inaddition,ourdirectorsandemployeesmayalsosolicitproxiesinperson,bytelephone,orbyothermeansofcommunication.Ourdirectorsandemployeeswillnotbepaidanyadditionalcompensationforsolicitingproxies.

How may my brokerage firm or other intermediary vote my shares if I fail to provide timely directions?

Brokeragefirmsandotherintermediariesholdingsharesofourcommonstockinstreetnamefortheircustomersaregenerallyrequiredtovotesuchsharesinthemannerdirectedbytheircustomers.Intheabsenceoftimelydirections,yourbrokerwillhavediscretiontovoteyoursharesonoursole“routine”matter:theproposaltoratifytheappointmentofErnst&YoungLLPasourindependentregisteredpublicaccountingfirmforourfiscalyearendingJanuary31,2021.Yourbrokerwillnothavediscretiontovoteonanyotherproposals,whichare“non-routine”matters,absentdirectionfromyou.

Where can I find the voting results of the Annual Meeting?

WewillannouncepreliminaryvotingresultsattheAnnualMeeting.WewillalsodisclosevotingresultsonaCurrentReportonForm8-KthatwewillfilewiththeSECwithinfourbusinessdaysaftertheAnnualMeeting.IffinalvotingresultsarenotavailabletousintimetofileaCurrentReportonForm8-KwithinfourbusinessdaysaftertheAnnualMeeting,wewillfileaCurrentReportonForm8-KtopublishpreliminaryresultsandwillprovidethefinalresultsinanamendmenttotheCurrentReportonForm8-Kassoonastheybecomeavailable.

I share an address with another stockholder, and we received only one paper copy of the proxy materials. How may Iobtain an additional copy of the proxy materials?

Wehaveadoptedaprocedurecalled“householding,”whichtheSEChasapproved.Underthisprocedure,wedeliverasinglecopyoftheNoticeand,ifapplicable,ourproxymaterialstomultiplestockholderswhosharethesameaddressunlesswehavereceivedcontraryinstructionsfromoneormoreofsuchstockholders.Thisprocedurereducesourprintingcosts,mailingcosts,andfees.Stockholderswhoparticipateinhouseholdingwillcontinuetobeabletoaccessandreceiveseparateproxycards.Uponwrittenororalrequest,wewilldeliver

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promptlyaseparatecopyoftheNoticeand,ifapplicable,ourproxymaterialstoanystockholderatasharedaddresstowhichwedeliveredasinglecopyofanyofthesematerials.Toreceiveaseparatecopy,or,ifastockholderisreceivingmultiplecopies,torequestthatweonlysendasinglecopyoftheNoticeand,ifapplicable,ourproxymaterials,suchstockholdermaycontactusatthefollowingaddress:

Box,Inc.

Attention:InvestorRelations

900JeffersonAve.

RedwoodCity,California94063

Tel:(877)729-4269

Streetnamestockholdersmaycontacttheirbroker,bankorothernomineetorequestinformationabouthouseholding.

What is the deadline to propose actions for consideration at next year’s annual meeting of stockholders or tonominate individuals to serve as directors?

StockholderProposals

Stockholdersmaypresentproperproposalsforinclusioninourproxystatementandforconsiderationatnextyear’sannualmeetingofstockholdersbysubmittingtheirproposalsinwritingtoourSecretaryinatimelymanner.Forastockholderproposaltobeconsideredforinclusioninourproxystatementforthe2021annualmeetingofstockholders,ourSecretarymustreceivethewrittenproposalatourprincipalexecutiveofficesnotlaterthanJanuary28,2021.Inaddition,stockholderproposalsmustcomplywiththerequirementsofRule14a-8undertheSecuritiesExchangeActof1934,asamended(the“ExchangeAct”)regardingtheinclusionofstockholderproposalsincompany-sponsoredproxymaterials.Stockholderproposalsshouldbeaddressedto:

Box,Inc.

Attention:Secretary

900JeffersonAve.

RedwoodCity,California94063

Ouramendedandrestatedbylawsalsoestablishanadvancenoticeprocedureforstockholderswhowishtopresentaproposalbeforeanannualmeetingofstockholdersbutdonotintendfortheproposaltobeincludedinourproxystatement.Ouramendedandrestatedbylawsprovidethattheonlybusinessthatmaybeconductedatanannualmeetingofstockholdersisbusinessthatis(i)specifiedinourproxymaterialswithrespecttosuchannualmeeting,(ii)otherwiseproperlybroughtbeforesuchannualmeetingbyoratthedirectionofourBoardofDirectors,or(iii)properlybroughtbeforesuchmeetingbyastockholderofrecordentitledtovoteatsuchannualmeetingwhohasdeliveredtimelywrittennoticetoourSecretary,whichnoticemustcontaintheinformationspecifiedinouramendedandrestatedbylaws.Tobetimelyforour2021annualmeetingofstockholders,ourSecretarymustreceivethewrittennoticeatourprincipalexecutiveoffices:

• notearlierthanMarch14,2021;and• notlaterthantheendofthedayonApril13,2021.

Intheeventthatweholdthe2021annualmeetingofstockholdersmorethan30daysbeforeormorethan60daysaftertheone-yearanniversaryoftheAnnualMeeting,noticeofastockholderproposalthatisnotintendedtobeincludedinourproxystatementmustbereceivednoearlierthanthecloseofbusinessonthe120thdaybeforethe2021annualmeetingofstockholdersandnolaterthanthecloseofbusinessonthelaterofthefollowingtwodates:

• the90thdaypriortothe2021annualmeetingofstockholders;or• the10thdayfollowingthedayonwhichpublicannouncementofthedateofour2021annualmeetingof

stockholdersisfirstmade.

Ifastockholderwhohasnotifiedusofhis,heroritsintentiontopresentaproposalatanannualmeetingofstockholdersdoesnotappeartopresenthis,heroritsproposalatsuchannualmeeting,wearenotrequiredtopresenttheproposalforavoteatsuchannualmeeting.

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NominationofDirectorCandidates

HoldersofourcommonstockmayproposedirectorcandidatesforconsiderationbyourNominatingandCorporateGovernanceCommittee.Anysuchrecommendationsshouldincludethenominee’snameandqualificationsformembershiponourBoardofDirectorsandshouldbedirectedtoourSecretaryattheaddresssetforthabove.Foradditionalinformationregardingstockholderrecommendationsfordirectorcandidates,seethesectiontitled“BoardofDirectorsandCorporateGovernance—StockholderRecommendationsforNominationstotheBoardofDirectors.”

Inaddition,ouramendedandrestatedbylawspermitstockholderstonominatedirectorsforelectionatanannualmeetingofstockholders.Tonominateadirector,thestockholdermustprovidetheinformationrequiredbyouramendedandrestatedbylaws.Inaddition,thestockholdermustgivetimelynoticetoourSecretaryinaccordancewithouramendedandrestatedbylaws,which,ingeneral,requirethatthenoticebereceivedbyourSecretarywithinthetimeperiodsdescribedaboveunderthesectiontitled“StockholderProposals”forstockholderproposalsthatarenotintendedtobeincludedinaproxystatement.

AvailabilityofBylaws

Acopyofouramendedandrestatedbylawsisavailableonourwebsiteathttp://www.box.com/investors.YoumayalsocontactourSecretaryattheaddresssetforthaboveforacopyoftherelevantbylawprovisionsregardingtherequirementsformakingstockholderproposalsandnominatingdirectorcandidates.

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BOARDOFDIRECTORSANDCORPORATEGOVERNANCEOurbusinessaffairsaremanagedunderthedirectionofourBoardofDirectors,whichiscurrentlycomposedoftwelvemembers.ThesizeofourBoardofDirectorswillbereducedtoninedirectorsupontheconclusionoftheAnnualMeetingastwoofourdirectorswillnotbestandingforre-electionandanotherdirectorwillberetiringfromtheBoardofDirectorseffectiveattheconclusionoftheAnnualMeeting.SevenofourdirectorsareindependentwithinthemeaningofthelistingstandardsoftheNewYorkStockExchange.OurBoardofDirectorsisdividedintothreestaggeredclassesofdirectors.Ateachannualmeetingofstockholders,aclassofdirectorswillbeelectedforathree-yeartermtosucceedthesameclasswhosetermisthenexpiring.

Thefollowingtablesetsforththenames,agesasofMarch31,2020,andcertainotherinformationforeachofthenomineesforelectionasaClassIIIdirectorattheAnnualMeeting,eachofthecontinuingmembersofourBoardofDirectorsandcertainnon-continuingmembersofourBoardofDirectorswhoarenotstandingforre-electionorhaveresignedeffectiveattheconclusionoftheAnnualMeeting:

Name AgeDirectorSince Independent Class

CurrentTerm

Expires

Expiration

ofTerm

forWhich

Nominated

Audit

Committee

Compensation

Committee

Corporate

GovernanceCommittee

Operating

Committee

DirectorNominees:SueBarsamian 60 2018 Yes III 2020 2023CarlBass 62 2020 Yes III 2020 2023JackLazar 54 2020 Yes III 2020 2023ContinuingDirectors:DanaEvan 60 2011 Yes I 2021PeterLeav 49 2019 Yes I 2021AaronLevie 35 2005 No I 2021KimHammonds 52 2018 Yes II 2022DanLevin 56 2010 No II 2022BethanyMayer 58 2020 Yes II 2022Non-ContinuingDirectors:RoryO’Driscoll 55 2010 Yes III 2020DylanSmith 34 2005 No III 2020JoshStein 46 2006 Yes II 2022

ChairpersonMember

NomineesforDirector

 

Sue BarsamianhasservedasamemberofourBoardofDirectorssinceMay2018.Ms.BarsamianservedasChiefSalesandMarketingOfficerforHPESoftwareofHewlettPackardEnterprisefromNovember2016toSeptember2017andtransitionedthisbusinessthroughitsmergerwithMicroFocusinSeptember2017.FromAugust2015toNovember2016,sheservedasGeneralManagerofEnterpriseSecurityProductsatHewlettPackardEnterprise.From2006to2015,sheservedinvariousrolesatHewlettPackard.From2012to2017,Ms.BarsamianservedontheBoardoftheNationalActionCouncilforMinoritiesinEngineering(NACME),andsheservedasChairmanoftheBoardofNACMEfrom2016to2017.SinceSeptember2019shehasservedontheBoardofTrusteesforKansasStateUniversity.Ms.BarsamiancurrentlyservesontheboardofdirectorsofNortonLifeLockCorporation,aconsumercybersafetycompany.Ms.BarsamianholdsaBachelorofSciencedegreewithhonorsinelectricalengineeringfromKansasStateUniversity.Shecompletedherpost-graduatestudiesattheSwissFederalInstituteofTechnologyinZurich,Switzerland.  

Ms.BarsamianwasselectedtoserveonourBoardofDirectorsbecauseofherenterprisesoftwaresalesandglobalgo-to-marketstrategyexperience.

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Carl BasshasservedasamemberofourBoardofDirectorssinceMay2020.Mr.BassservedasthePresidentandChiefExecutiveOfficerofAutodesk,Inc.,asoftwarecompany,fromMay2006toFebruary2017.HeservedastheInterimChiefFinancialOfficerofAutodesk,Inc.fromAugust2014toNovember2014.FromJanuary2006toJune2018,Mr.BassservedontheboardofdirectorsofAutodesk,Inc.SinceFebruary2016,Mr.BasshasservedontheboardofdirectorsofZendesk,Inc.,aproviderofcustomerservicesoftware.FromNovember2015toSeptember2017,heservedontheboardofdirectorsofHPInc.,aproviderofsoftwareandtechnology.FromJuly2011toMarch2015,heservedontheboardofdirectorsofE2open,Inc.,asoftwarecompany,untilitwasacquiredbyInsightVenturePartnersinMarch2015.Mr.BassholdsaB.A.inmathematicsfromCornellUniversity.

  Mr.BasswasselectedtoserveonourBoardbecauseofhisextensiveexperienceasanexecutiveinthetechnologyindustry.

 

Jack LazarhasservedasamemberofourBoardofDirectorssinceMarch2020.Mr.LazarhasbeenanindependentbusinessconsultantsinceMarch2016.FromJanuary2014untilMarch2016,Mr.LazarservedastheChiefFinancialOfficeratGoPro,Inc.,aproviderofwearableandmountablecapturedevices.FromJanuary2013untilJanuary2014,hewasanindependentbusinessconsultant.FromMay2011untilJanuary2013,Mr.LazarwasemployedbyQualcommandservedasSeniorVicePresident,CorporateDevelopmentandGeneralManagerofQualcommAtheros,Inc.,adeveloperofcommunicationssemiconductorsolutions.FromSeptember2003untilitwasacquiredbyQualcomminMay2011,Mr.LazarservedinvariouspositionsatAtherosCommunications,Inc.,aproviderofcommunicationssemiconductorsolutions,mostrecentlyasSeniorVicePresidentofCorporateDevelopment,ChiefFinancialOfficerandSecretary.Mr.LazarhasservedontheboardsofdirectorsofSiliconLaboratories,ananalogandmixedsignalsemiconductorcompany,sinceApril2013,ResideoTechnologies,aproviderofcomfortandsecuritysolutions,sinceOctober2018,andCasperSleep,aproviderofsleep-centricproductstoconsumers,sinceApril2019.FromOctober2013untilitssaletoAdobeinDecember2016,heservedontheboardofdirectorsofTubeMogul,Inc.,anenterprisesoftwarecompanyfordigitalbranding,andfromJune2018untilitssaletoNVIDIAinApril2020,heservedontheboardofdirectorsofMellanoxTechnologies,acommunicationssemiconductorcompany.Mr.LazaralsoservedontheboardofdirectorsofQuantennaCommunications,Inc.,awirelesssemiconductorcompany,fromJuly2016untilitssaletoOnSemiconductorinJune2019.Mr.Lazarisacertifiedpublicaccountant(inactive)andholdsaB.S.inCommercewithanemphasisinAccountingfromSantaClaraUniversity.    Mr.LazarwasselectedtoserveonourBoardofDirectorsbecauseofhisexperienceinboththeenterpriseandconsumertechnologymarkets,alongwithastrongtrackrecordofhelpingcompaniesdrivedisciplinedgrowthandprofitability.

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ContinuingDirectors

 

Bethany MayerhasservedasamemberofourBoardofDirectorssinceApril2020.Ms.MayerisanexecutivepartnerwithSirisCapitalGroupLLC,aprivateequityfirm.Ms.MayerservedasExecutiveVicePresidentofCorporateDevelopmentandTechnologyofSempraEnergy,anenergyinfrastructurecompany,fromNovember2018toJanuary2019andservedasamemberoftheboardofdirectorsofSempraEnergyfromFebruary2017toNovember2018.From2014through2017,shewasthePresident,ChiefExecutiveOfficerandaboardmemberofIxia,amarketleaderintest,visibilityandsecuritysolutionsacquiredbyKeysightTechnologiesin2017.From2011through2014,Ms.MayerservedasSeniorVicePresidentandGeneralManagerofHP’sNetworkingBusinessunitandtheNFVbusinessunit.From2010until2011,sheservedasVicePresident,MarketingandAlliances,forHP’sEnterpriseServersStorageandNetworkingGroup.PriortojoiningHP,sheheldleadershiprolesatBlueCoatSystems,CiscoandAppleComputer.Presently,Ms.MayerisamemberoftheboardofdirectorsofLAMResearchCorporation,asemiconductorequipmentcompany;MarvellTechnologyGroup,aninfrastructuresemiconductorsolutionscompany;andSempraEnergy,anenergyservicesholdingcompany.Ms.MayerholdsaMastersinBusinessAdministrationfromCSU-MontereyBayandaBachelorofScienceinPoliticalSciencefromSantaClaraUniversity.

  Ms.MayerwasselectedtoserveonourBoardofDirectorsbecauseofherdeeptechnologyexperienceandleadershiprolesscalingmulti-billiondollarenterprises.

 

Dana EvanhasservedasamemberofourBoardofDirectorssinceDecember2011.Since2013,Ms.EvanhasservedasaVenturePartneratIconVentures,aventurecapitalfirm,andsinceJuly2007hasinvestedinandservedontheboardsofdirectorsofcompaniesintheinternet,technologyandmediasectors.FromMay1996untilJuly2007,Ms.EvanservedasChiefFinancialOfficerofVeriSign,Inc.,aproviderofintelligentinfrastructureservicesfortheinternetandtelecommunicationsnetworks.Ms.EvancurrentlyservesontheboardofdirectorsofDomo,Inc.,abusinessintelligencetoolsanddatavisualizationcompany,FarfetchLimited,aglobaltechnologyplatformfortheluxuryfashionindustry,Proofpoint,Inc.,asecurity-as-a-serviceprovider,SVMKInc.(SurveyMonkey),anonlinesurveydevelopmentcloud-basedsoftware,andanumberofprivatelyheldcompanies,andpreviouslyservedontheBoardofDirectorsofCriteoS.A.,aperformancedisplayadvertisingcompany,andFusion-io,Inc.,aflashmemorytechnologycompany.Ms.EvanpreviouslyservedontheBoardsofDirectorsofOmniture,Inc.,anonlinemarketingandwebanalyticscompany,untilitwasacquiredbyAdobeSystemsIncorporatedinOctober2009andEverydayHealth,Inc.,aproviderofdigitalhealthandwellnesssolutions,untilitwasacquiredbyZiffDavis,LLCinDecember2016.Ms.Evanwasselectedasthe2019DirectoroftheYearbytheNationalAssociationofCorporateDirectors(NACD).Ms.EvanholdsaB.S.inCommercefromSantaClaraUniversityandisacertifiedpublicaccountant(inactive).   Ms.EvanwasselectedtoserveonourBoardofDirectorsbecauseofherexperienceinoperations,strategy,accounting,financialmanagementandinvestorrelationsatbothpubliclyandprivatelyheldtechnologycompanies.

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Peter Leav hasservedasamemberofourBoardofDirectorssinceJune2019.Mr.LeavservesastheChiefExecutiveOfficerandmemberoftheBoardofManagersofMcAfee,LLC,acybersecuritycompany.Previously,Mr.LeayservedasPresident,ChiefExecutiveOfficer,andDirectorofBMCSoftware,Inc.,amanagementsolutionssoftwarecompany,fromDecember2016toApril2019.PriortojoiningBMC,Mr.LeavservedasPresident,ChiefExecutiveOfficer,andDirectorofPolycom,Inc.,avideo,voice,andcontentsolutioncompany,fromDecember2013throughSeptember2016.PriortojoiningPolycom,Mr.LeavservedasExecutiveVicePresidentandPresident,IndustryandFieldOperationsofNCRCorporation,aglobaltechnologycompany,fromJune2012toNovember2013,asExecutiveVicePresident,GlobalSales,ProfessionalServicesandConsumablesofNCRfromNovember2011toJune2012,andasSeniorVicePresident,WorldwideSalesofNCRfromJanuary2009toOctober2011.PriortojoiningNCR,heservedasCorporateVicePresidentandGeneralManagerofMotorola,Inc.,aproviderofmobilityproductsandsolutionsacrossbroadbandandwirelessnetworks,fromNovember2008toJanuary2009,asVicePresidentandGeneralManagerfromDecember2007toNovember2008,andasVicePresidentofSalesfromDecember2006toDecember2007.FromNovember2004toDecember2006,Mr.LeavwasDirectorofSalesforSymbolTechnologies,Inc.,aninformationtechnologycompany.Priortothisposition,Mr.LeavwasregionalsalesmanageratCiscoSystems,Inc.,amanufacturerofcommunicationsandinformationtechnologynetworkingproducts,fromJuly2000toNovember2004.Mr.LeavservedontheboardofdirectorsofHDSupply,Inc.,anindustrialdistributorcompany,fromOctober2014toJuly2017.Mr.Leavholdsabachelor’sdegreefromLehighUniversity.   Mr.LeavwasselectedtoserveonourBoardofDirectorsbecauseofhisgeneralmanagement,technology,communicationsandglobalgo-to-marketstrategyandoperationsexperience.

 

Aaron Levieco-foundedourcompanyandhasservedasourChairmansinceDecember2013andasourChiefExecutiveOfficerandamemberofourBoardofDirectorssinceApril2005.Mr.LevieattendedtheUniversityofSouthernCaliforniafrom2003to2005.   Mr.LeviewasselectedtoserveonourBoardofDirectorsbecauseoftheperspectiveandexperiencehebringsasoneofourfounders.

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Kim Hammonds hasservedasamemberofourBoardofDirectorssinceOctober2018.Ms.HammondsservedastheGroupChiefOperatingOfficeratDeutscheBankAG,aglobalfinancialservicescompany,fromJanuary2016toMay2018andasamemberoftheDeutscheBankManagementBoardfromAugust2016toMay2018.ShejoinedDeutscheBankasChiefInformationOfficerandGlobalCo-HeadTechnologyandOperationsinNovember2013fromTheBoeingCompany,aglobalaerospacecompany.Ms.HammondsjoinedBoeingin2008andservedinanumberofcapacities,includingmostrecentlyasChiefInformationOfficer/VicePresident,GlobalInfrastructure,GlobalBusinessSystemsfromJanuary2011toNovember2013.Ms.HammondsjoinedBoeingfromDellInc.,wheresheledITsystemsdevelopmentformanufacturingoperationsintheAmericas,anddirectedglobalITreliabilityandfactorysystems.Ms.HammondscurrentlyservesontheboardofdirectorsofTenableHoldings,Inc.,aproviderofcybersecuritysolutions,andZoomVideoCommunications,Inc.,anenterprisevideocommunicationscompany.Ms.HammondsholdsaB.S.inMechanicalEngineeringfromUniversityofMichiganandanMBAinMarketingfromWesternMichiganUniversity.   Ms.HammondswasselectedtoserveonourBoardofDirectorsbecauseofherenterpriseITandglobalgo-to-marketstrategyexperience.

 

Dan LevinservedasourPresidentandChiefOperatingOfficerfromDecember2013untilJuly2017,andasourChiefOperatingOfficerfromJuly2010untilJuly2017.Mr.LevinhasservedasamemberofourBoardofDirectorssinceJanuary2010.FromMarch2009toJuly2010,Mr.Levinservedasanadvisortovarioustechnologystart-ups,includingourcompanysinceSeptember2009.FromJuly2008toMarch2009,Mr.LevinservedastheinterimChiefExecutiveOfficerofPicateersInc.,anonlinephotosalescompany.Previously,Mr.LevinservedinvariousexecutiverolesatIntuitInc.,abusinessandfinancialmanagementsolutionscompany,mostrecentlyasVicePresidentandGeneralManager,Healthcare.Mr.LevinholdsaB.A.intheindependentconcentrationofApplicationsofComputerGraphicstoStatisticalDataAnalysisfromPrincetonUniversity.   Mr.LevinwasselectedtoserveonourBoardofDirectorsbecauseofhisextensiveexperiencewithtechnologycompanies.

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Non-ContinuingDirectors

 

RoryO’DriscollhasservedasamemberofourBoardofDirectorssinceApril2010.Mr.O’Driscollhasworkedinventurecapitalsince1994asaseniormemberoftheBankofAmericainvestmentteam,whichbecameScaleVenturePartnersin2007.Since2007,Mr.O’DriscollhasbeenaManagingPartneratScaleVenturePartners,aventurecapitalfirm.Mr.O’DriscollcurrentlyservesontheboardofdirectorsofBill.com,aproviderofbusinesspaymentsprocessingplatforms,andanumberofseveralprivatelyheldcompanies.Mr.O’DriscollholdsaB.Sc.fromtheLondonSchoolofEconomics.

 

Mr.O’DriscollwasselectedtoserveonourBoardofDirectorsbecauseofhisexperienceasadirectorofbothpubliclyandprivatelyheldtechnologycompanies.

 

Dylan Smithco-foundedourcompanyandhasservedasourChiefFinancialOfficerandasamemberofourBoardofDirectorssinceApril2005.Mr.SmithholdsaB.A.inEconomicsfromDukeUniversity.   Mr.SmithwasselectedtoserveonourBoardofDirectorsbecauseoftheperspectiveandexperiencehebringsasoneofourfounders.

 

Josh SteinhasservedasamemberofourBoardofDirectorssinceJuly2006.SinceDecember2006,Mr.SteinhasbeenaManagingDirectorofseveralfundsaffiliatedwithDraperFisherJurvetson,aventurecapitalfirmhejoinedinMay2004.Mr.Steincurrentlyservesontheboardsofdirectorsofseveralprivatelyheldcompanies.Mr.SteinholdsaB.A.inPsychologyfromDartmouthCollegeandanM.B.A.fromtheStanfordGraduateSchoolofBusiness.   Mr.SteinwasselectedtoserveonourBoardofDirectorsbecauseofhisknowledgeoftechnologycompaniesandhisexperienceasadirectorofprivatelyheldtechnologycompanies.

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DirectorIndependenceOurClassAcommonstockislistedontheNewYorkStockExchange.UnderthelistingstandardsoftheNewYorkStockExchange,independentdirectorsmustcompriseamajorityofalistedcompany’sboardofdirectors.Inaddition,thelistingstandardsoftheNewYorkStockExchangerequirethat,subjecttospecifiedexceptions,eachmemberofalistedcompany’saudit,compensation,andnominatingandcorporategovernancecommitteesbeindependent.UnderthelistingstandardsoftheNewYorkStockExchange,adirectorwillonlyqualifyasan“independentdirector”if,intheopinionofthatlistedcompany’sboardofdirectors,thatdirectordoesnothaveamaterialrelationshipwiththecompany(eitherdirectlyorasapartner,shareholderorofficerofanorganizationthathasarelationshipwithinthecompany).

AuditcommitteemembersmustalsosatisfytheadditionalindependencecriteriasetforthinRule10A-3undertheExchangeAct,andthelistingstandardsoftheNewYorkStockExchange.CompensationcommitteemembersmustalsosatisfytheadditionalindependencecriteriasetforthinRule10C-1undertheExchangeActandthelistingstandardsoftheNewYorkStockExchange.

OurBoardofDirectorshasundertakenareviewoftheindependenceofeachofourdirectors.Basedoninformationprovidedbyeachdirectorconcerninghisorherbackground,employmentandaffiliations,ourBoardofDirectorshasdeterminedthatnoneofMses.Barsamian,Evan,Hammonds,andMayerorMessrs.Bass,Lazar,Leav,O’DriscollandSteinhasamaterialrelationshipwiththecompany(eitherdirectlyorasapartner,shareholderorofficerofanorganizationthathasarelationshipwithinthecompany)andthateachofthesedirectorsis“independent”asthattermisdefinedundertheapplicablerulesandregulationsoftheSECandthelistingstandardsoftheNewYorkStockExchange.Inmakingthesedeterminations,ourBoardofDirectorsconsideredthecurrentandpriorrelationshipsthateachnon-employeedirectorhaswithourcompanyandallotherfactsandcircumstancesourBoardofDirectorsdeemedrelevantindeterminingtheirindependence,includingthebeneficialownershipofourcapitalstockbyeachnon-employeedirector,andthetransactionsinvolvingthemdescribedinthesectiontitled“RelatedPersonTransactions.”

BoardLeadershipStructureAaronLevieservesasboththeChairmanofourBoardofDirectorsandasourChiefExecutiveOfficer.Ourindependentdirectorsbringexperience,oversightandexpertisefromoutsideofourcompany,whileMr.Leviebringscompany-andindustry-specificexperienceandexpertise.Asoneofourfounders,Mr.Levieisbestpositionedtoidentifystrategicpriorities,leadcriticaldiscussionandexecuteourbusinessplans.WebelievethatthestructureofourBoardofDirectorsanditscommitteesprovideseffectiveindependentoversightofmanagementwhileMr.Levie’scombinedroleenablesstrongleadership,createsclearaccountabilityandenhancesourabilitytocommunicateourmessageandstrategyclearlyandconsistentlytostockholders.

LeadIndependentDirectorOurCorporateGovernanceGuidelinesprovidethatifourChiefExecutiveOfficerservesasChairmanofourBoardofDirectorsoriftheChairmanisnototherwiseindependent,ourBoardofDirectorswillappointaLeadIndependentDirector.BecauseMr.LevieisourChairmanandChiefExecutiveOfficer,ourBoardofDirectorshasappointedRoryO’DriscolltoserveasourLeadIndependentDirector.AsLeadIndependentDirector,Mr.O’Driscollpresidesoverregularlyscheduledexecutivesessionsofourindependentdirectors,servesasaliaisonbetweenourChairmanandourindependentdirectorsandperformssuchadditionaldutiesasourBoardofDirectorsotherwisedeterminesanddelegates.BecauseMr.O’DriscollwillnotstandforreelectionasadirectorattheAnnualMeeting,ourBoardofDirectorsintendstoappointanewLeadIndependentDirectortosucceedMr.O’Driscollonorbeforethedateofthisyear’sAnnualMeeting.

BoardandStockholderMeetingsandCommitteesDuringourfiscalyearendedJanuary31,2020,ourBoardofDirectorsheldelevenmeetings(includingregularlyscheduledandspecialmeetings),andeachincumbentdirectorattendedatleast75%oftheaggregateof(i)thetotalnumberofmeetingsofourBoardofDirectorsheldduringtheperiodforwhichheorshehasbeenadirectorand(ii)thetotalnumberofmeetingsheldbyallcommitteesofourBoardofDirectorsonwhichheorsheservedduringtheperiodsthatheorsheserved.

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AlthoughwedonothaveaformalpolicyregardingattendancebymembersofourBoardofDirectorsatannualmeetingsofstockholders,weencourage,butdonotrequire,ourdirectorstoattend.Eightdirectorsattendedour2019annualmeetingofstockholders.

OurBoardofDirectorshasestablishedanAuditCommittee,aCompensationCommittee,aNominatingandCorporateGovernanceCommittee,andanOperatingCommittee.ThecompositionandresponsibilitiesofeachofthecommitteesofourBoardofDirectorsisdescribedbelow.MemberswillserveonthesecommitteesuntiltheirresignationoruntilotherwisedeterminedbyourBoardofDirectors.

Audit Committee

OurAuditCommitteeconsistsofMr.O’DriscollandMses.EvanandHammonds,withMs.Evanservingasthechair.Mr.O’DriscollwillnotstandforreelectionattheAnnualMeeting.EachmemberofourAuditCommitteemeetstherequirementsforindependenceforauditcommitteemembersunderthelistingstandardsoftheNewYorkStockExchangeandSECrulesandregulations.EachmemberofourAuditCommitteealsomeetsthefinancialliteracyandsophisticationrequirementsofthelistingstandardsoftheNewYorkStockExchange.Inaddition,ourBoardofDirectorshasdeterminedthatMs.EvanisanauditcommitteefinancialexpertwithinthemeaningofItem407(d)ofRegulationS-KundertheSecuritiesActof1933,asamendedandthatsimultaneousservicebyMs.EvanontheauditcommitteeofmorethanthreepubliccompaniesdoesnotimpairherabilitytoeffectivelyserveonourAuditCommittee.OurAuditCommitteeis,amongotherthings,responsibleforthefollowing:

• selectingandhiringourindependentregisteredpublicaccountingfirm;• evaluatingtheperformanceandindependenceofourindependentregisteredpublicaccountingfirm;• pre-approvingtheauditservicesandanynon-auditservicestobeperformedbyourindependentregistered

publicaccountingfirm;• reviewingourfinancialstatementsandrelateddisclosuresandreviewingourcriticalaccountingpoliciesand

practices;• reviewingtheadequacyandeffectivenessofourinternalcontrolpoliciesandproceduresandourdisclosure

controlsandprocedures;• overseeingproceduresforthetreatmentofcomplaintsonaccounting,internalaccountingcontrols,oraudit

matters;• reviewinganddiscussingwithmanagementandtheindependentregisteredpublicaccountingfirmthe

resultsofourannualauditandthefinancialstatementsincludedinourpubliclyfiledreports;• reviewingandapprovinganyproposedrelatedpersontransactions;and• preparingtheAuditCommitteereportincludedinourannualproxystatement.

OurAuditCommitteeoperatesunderawrittencharterthatsatisfiestheapplicablerulesandregulationsoftheSECandthelistingstandardsoftheNewYorkStockExchange.AcopyofthecharterofourAuditCommitteeisavailableonourwebsiteathttp://www.box.com/investors.DuringourfiscalyearendedJanuary31,2020,ourAuditCommitteeheldfivemeetings.

Compensation Committee

OurCompensationCommitteeconsistsofMessrs.LeavandSteinandMses.BarsamianandEvan,withMr.Steinservingasthechair.Mr.SteinwillresignfromourBoardofDirectorsandtheCompensationCommitteeeffectiveattheconclusionoftheAnnualMeeting.EachmemberofourCompensationCommitteemeetstherequirementsforindependenceforcompensationcommitteemembersunderthelistingstandardsoftheNewYorkStockExchangeandSECrulesandregulations,includingRule10C-1undertheExchangeAct.EachmemberofourCompensationCommitteeisalsoanon-employeedirector,asdefinedpursuanttoRule16b-3promulgatedundertheExchangeAct.OurCompensationCommitteeis,amongotherthings,responsibleforthefollowing:

• reviewingandapprovingourChiefExecutiveOfficer’sandotherexecutiveofficers’annualbasesalaries,incentivecompensationplans,includingthespecificgoalsandamounts,equitycompensation,employmentagreements,severancearrangementsandchangeincontrolagreements,andanyotherbenefits,compensationorarrangements;

• administeringourequitycompensationplans;• overseeingouroverallcompensationphilosophy,compensationplansandbenefitsprograms;and• preparingtheCompensationCommitteereportincludedinourannualproxystatement.

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OurCompensationCommitteeoperatesunderawrittencharterthatsatisfiestheapplicablerulesandregulationsoftheSECandthelistingstandardsoftheNewYorkStockExchange.AcopyofthecharterofourCompensationCommitteeisavailableonourwebsiteathttp://www.box.com/investors.DuringourfiscalyearendedJanuary31,2020,ourCompensationCommitteeheldfivemeetings.

Nominating and Corporate Governance Committee

OurNominatingandCorporateGovernanceCommitteeconsistsofMses.EvanandBarsamianandMr.Stein,withMs.Evanservingasthechair.Mr.SteinwillresignfromourBoardofDirectorsandtheNominatingandCorporateGovernanceCommitteeeffectiveattheconclusionoftheAnnualMeeting.EachmemberofourNominatingandCorporateGovernanceCommitteemeetstherequirementsforindependenceunderthelistingstandardsoftheNewYorkStockExchangeandSECrulesandregulations.OurNominatingandCorporateGovernanceCommitteeis,amongotherthings,responsibleforthefollowing:

• evaluatingandmakingrecommendationsregardingthecomposition,organizationandgovernanceofourBoardofDirectorsanditscommittees;

• overseeingannualperformanceevaluationsoftheBoardofDirectorsanditscommittees;• evaluatingandmakingrecommendationsregardingthecreationofadditionalcommitteesorthechangein

mandateordissolutionofcommittees;• reviewingandmakingrecommendationswithregardtoourcorporategovernanceguidelines;and• reviewingandapprovingconflictsofinterestofourdirectorsandcorporateofficers,otherthanrelated

persontransactionsreviewedbyourAuditCommittee.

OurNominatingandCorporateGovernanceCommitteeoperatesunderawrittencharterthatsatisfiestheapplicablelistingstandardsoftheNewYorkStockExchange.AcopyofthecharterofourNominatingandCorporateGovernanceCommitteeisavailableonourwebsiteathttp://www.box.com/investors.DuringourfiscalyearendedJanuary31,2020,ourNominatingandCorporateGovernanceCommitteeheldtwomeetings

Operating Committee

OurOperatingCommitteewasformedinMarch2020andconsistsofMses.Barsamian,Hammonds,andMayerandMr.Lazar,withMs.Barsamianservingasthechair.AlthoughthelistingstandardsoftheNewYorkStockExchangeandSECrulesandregulationsdonotspecifyindependencerequirementsapplicabletoourOperatingCommittee,eachmemberoftheOperatingCommitteemeetsthegeneralrequirementsforindependenceunderthelistingstandardsoftheNewYorkStockExchangeandSECrulesandregulations.OurOperatingCommitteeisresponsibleforworkingwithourChiefExecutiveOfficer,ChiefFinancialOfficer,andmanagementtoidentifyandrecommendopportunitiesforfurtherimprovementingrowthandmarginperformance.

BecauseourOperatingCommitteewasformedinMarch2020,itheldnomeetingsduringourfiscalyearendedJanuary31,2020.

CompensationCommitteeInterlocksandInsiderParticipation

NoneofthemembersofourCompensationCommitteeisorhasbeenanofficeroremployeeofourcompany.Noneofourexecutiveofficerscurrentlyserves,orinthepastyearhasserved,asamemberoftheboardofdirectorsorcompensationcommittee(orotherboardcommitteeperformingequivalentfunctions)ofanyentitythathasoneormoreofitsexecutiveofficersservingonourBoardofDirectorsorCompensationCommittee.

ConsiderationsinEvaluatingDirectorNominees

OurNominatingandCorporateGovernanceCommitteeusesavarietyofmethodsforidentifyingandevaluatingdirectornominees.Initsevaluationofdirectorcandidates,ourNominatingandCorporateGovernanceCommitteewillconsiderthecurrentsizeandcompositionofourBoardofDirectorsandtheneedsofourBoardofDirectorsandtherespectivecommitteesofourBoardofDirectors.SomeofthequalificationsthatourNominatingandCorporateGovernanceCommitteeconsidersinclude,withoutlimitation,issuesofcharacter,integrity,judgment,diversityofexperience,independence,areaofexpertise,corporateexperience,lengthofservice,potentialconflictsofinterestandothercommitments.NomineesmustalsohavetheabilitytoofferadviceandguidancetoourChiefExecutiveOfficerbasedonpastexperienceinpositionswithahighdegreeofresponsibilityandbeleadersinthecompaniesorinstitutionswithwhichtheyareaffiliated.Directorcandidatesmusthavesufficient

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timeavailableinthejudgmentofourNominatingandCorporateGovernanceCommitteetoperformallBoardofDirectorsandcommitteeresponsibilities.MembersofourBoardofDirectorsareexpectedtopreparefor,attend,andparticipateinallBoardofDirectorsandapplicablecommitteemeetings.Otherthantheforegoing,therearenostatedminimumcriteriafordirectornominees,althoughourNominatingandCorporateGovernanceCommitteemayalsoconsidersuchotherfactorsasitmaydeem,fromtimetotime,areinourandourstockholders’bestinterests.

AlthoughourBoardofDirectorsdoesnotmaintainaspecificpolicywithrespecttoboarddiversity,ourBoardofDirectorsbelievesthatourBoardofDirectorsshouldbeadiversebody,andourNominatingandCorporateGovernanceCommitteeconsidersabroadrangeofbackgroundsandexperiences.Inmakingdeterminationsregardingnominationsofdirectors,ourNominatingandCorporateGovernanceCommitteemaytakeintoaccountthebenefitsofdiverseviewpoints.OurNominatingandCorporateGovernanceCommitteealsoconsiderstheseandotherfactorsasitoverseestheannualBoardofDirectorsandcommitteeevaluations.Aftercompletingitsreviewandevaluationofdirectorcandidates,ourNominatingandCorporateGovernanceCommitteerecommendstoourfullBoardofDirectorsthedirectornomineesforselection.

Twoofourdirector-nomineeshavebeennominatedpursuanttoanagreementweenteredintowithStarboardValueLPandcertainofitsaffiliatesonMarch22,2020.Formoreinformationaboutthisagreement,refertothesectionstitled“ProposalNo.1—ElectionofDirectors—AgreementwithStarboardValueLP”and“RelatedPersonTransactions—AgreementwithStarboardValueLP”below.

StockholderRecommendationsforNominationstotheBoardofDirectors

OurNominatingandCorporateGovernanceCommitteewillconsidercandidatesfordirectorrecommendedbystockholdersholdingatleastonepercent(1%)ofthefullydilutedcapitalizationofourcompanycontinuouslyforatleasttwelve(12)monthspriortothedateofthesubmissionoftherecommendation,solongassuchrecommendationscomplywithouramendedandrestatedcertificateofincorporationandamendedandrestatedbylawsandapplicablelaws,rulesandregulations,includingthosepromulgatedbytheSEC.OurNominatingandCorporateGovernanceCommitteewillevaluatesuchrecommendationsinaccordancewithitscharter,ouramendedandrestatedbylaws,ourpoliciesandproceduresfordirectorcandidates,aswellastheregulardirectornomineecriteriadescribedabove.ThisprocessisdesignedtoensurethatourBoardofDirectorsincludesmemberswithdiversebackgrounds,skillsandexperience,includingappropriatefinancialandotherexpertiserelevanttoourbusiness.EligiblestockholderswishingtorecommendacandidatefornominationshouldcontactourGeneralCounselorourLegalDepartmentinwriting.Suchrecommendationsmustincludeinformationaboutthecandidate,astatementofsupportbytherecommendingstockholder,evidenceoftherecommendingstockholder’sownershipofourcommonstockandasignedletterfromthecandidateconfirmingwillingnesstoserveonourBoardofDirectors.OurNominatingandCorporateGovernanceCommitteehasdiscretiontodecidewhichindividualstorecommendfornominationasdirectors.

Underouramendedandrestatedbylaws,stockholdersmayalsonominatepersonsforourBoardofDirectors.AnynominationmustcomplywiththerequirementssetforthinouramendedandrestatedbylawsandshouldbesentinwritingtoourGeneralCounselorourLegalDepartmentatBox,Inc.,900JeffersonAve.,RedwoodCity,California94063.Tobetimelyforour2021annualmeetingofstockholders,ourGeneralCounselorLegalDepartmentmustreceivethenominationnoearlierthanMarch14,2021andnolaterthanApril13,2021.

CommunicationswiththeBoardofDirectors

InterestedpartieswishingtocommunicatewithourBoardofDirectorsorwithanindividualmemberormembersofourBoardofDirectorsmaydosobywritingtoourBoardofDirectorsortotheparticularmemberormembersofourBoardofDirectorsandmailingthecorrespondencetoourGeneralCounselatBox,Inc.,900JeffersonAve.,RedwoodCity,California94063.IfaninterestedpartywishestocontacttheindependentmembersofourBoardofDirectors,theinterestedpartyshouldaddresssuchcommunicationtotheattentionoftheLeadIndependentDirectorattheaddressabove.OurGeneralCounsel,inconsultationwithappropriatemembersofourBoardofDirectorsasnecessary,willreviewallincomingcommunicationsand,ifappropriate,allsuchcommunicationswillbeforwardedtotheappropriatememberormembersofourBoardofDirectors,orifnoneisspecified,totheChairmanofourBoardofDirectors.

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StockholderEngagement

AsownersofBox,wevalueourstockholders’opinionsandfeedback.Maintaininganactivedialoguewithourstockholdersisconsistentwithourcorporatevaluesoftransparencyandaccountability,andweintendtocontinuetheseeffortsinthefuture.

Ourstockholderoutreachprogramincludespost-earningscommunications,conferences,roadshows,bustours,one-on-oneandgroupmeetings,technologywebcasts,andgeneralavailabilitytorespondtostockholderinquiries.

SinceourIPOover5yearsago,we'veheldanannual"InvestorDay"toprovidestockholderswithadetailedupdateonourstrategyandfinancialoutlookaswellasaccesstotheextendedexecutiveteam.

ThefeedbackwereceivefromstockholdersfromouroutreachprogramhelpsourBoard,leadershipteamandemployeesdevelopamutualunderstandingandtrustwithourstockholders.MembersofourBoardofDirectorsandseniorexecutivesdirectlyengagefromtimetotimewithstockholderstohearunfilteredconcernsandperspectivesthatshapeourcorestrategy.Theseeffortsarealsosupplementedbysurveysconductedbythirdpartiesthatenableustoreceivecandidfeedback.Employeesreceivequarterlyupdatesoninvestorsentimentfollowingourearningscallstoempowerthemtodrivealignmentwithcorporatefinancialobjectives.

CorporateGovernanceGuidelinesandCodeofBusinessConductandEthics

OurBoardofDirectorshasadoptedCorporateGovernanceGuidelinesthataddressitemssuchasthequalificationsandresponsibilitiesofourdirectorsanddirectorcandidatesandcorporategovernancepoliciesandstandardsapplicabletousingeneral.Inaddition,ourBoardofDirectorshasadoptedaCodeofBusinessConductandEthicsthatappliestoallofouremployees,officersanddirectors,includingourChiefExecutiveOfficer,ChiefFinancialOfficer,andotherexecutiveandseniorfinancialofficers.ThefulltextofourCorporateGovernanceGuidelinesandourCodeofBusinessConductandEthicsispostedontheCorporateGovernanceportionofourwebsiteathttp://www.box.com/investors.WewillpostamendmentstoourCodeofBusinessConductandEthicsorwaiversofourCodeofBusinessConductandEthicsfordirectorsandexecutiveofficersonthesamewebsite.

RiskManagement

Riskisinherentwitheverybusiness,andwefaceanumberofrisks,includingstrategic,financial,businessandoperational,cybersecurity,legalandcompliance,andreputational.Wehavedesignedandimplementedprocessestomanageriskinouroperations.Managementisresponsiblefortheday-to-daymanagementofrisksthecompanyfaces,whileourBoardofDirectors,asawholeandassistedbyitscommittees,hasresponsibilityfortheoversightofriskmanagement.Initsriskoversightrole,ourBoardofDirectorshastheresponsibilitytosatisfyitselfthattheriskmanagementprocessesdesignedandimplementedbymanagementareappropriateandfunctioningasdesigned.

OurBoardofDirectorsbelievesthatopencommunicationbetweenmanagementandourBoardofDirectorsisessentialforeffectiveriskmanagementandoversight.OurBoardofDirectorsmeetswithourChiefExecutiveOfficerandothermembersofourseniormanagementteamatquarterlymeetingsofourBoardofDirectors,where,amongothertopics,theydiscussstrategyandrisksfacingthecompany,aswellatsuchothertimesastheydeemappropriate.

WhileourBoardofDirectorsisultimatelyresponsibleforriskoversight,ourboardcommitteesassistourBoardofDirectorsinfulfillingitsoversightresponsibilitiesincertainareasofrisk.OurAuditCommitteeassistsourBoardofDirectorsinfulfillingitsoversightresponsibilitieswithrespecttoriskmanagementintheareasofinternalcontroloverfinancialreportinganddisclosurecontrolsandprocedures,legalandregulatorycompliance,anddiscusseswithmanagementandtheindependentauditorguidelinesandpolicieswithrespecttoriskassessmentandriskmanagement.OurAuditCommitteealsoreviewsourmajorfinancialriskexposuresandthestepsmanagementhastakentomonitorandcontroltheseexposures.OurAuditCommitteealsomonitorscertainkeyrisksonaregularbasisthroughoutthefiscalyear,suchasriskassociatedwithinternalcontroloverfinancialreportingandliquidityrisk.OurNominatingandCorporateGovernanceCommitteeassistsourBoardofDirectorsinfulfillingitsoversightresponsibilitieswithrespecttothemanagementofriskassociatedwithboardorganization,membershipandstructure,andcorporategovernance.OurCompensationCommitteeassessesriskscreatedbytheincentives

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inherentinourcompensationpolicies.Finally,ourfullBoardofDirectorsreviewsstrategicandoperationalriskinthecontextofreportsfromthemanagementteam,receivesreportsonallsignificantcommitteeactivitiesateachregularmeeting,andevaluatestherisksinherentinsignificanttransactions.

Corporate,Environmental,andSocialResponsibility

OurBoardofDirectorsbelievesoperatingsustainablybenefitsthecompany’smanydifferentstakeholdersanddriveslong-termvaluecreation.Weworktoconductourbusinessinwaysthatareconsistentwithourcompanyvaluesandpromoteaccountabilitytoourstockholdersandotherstakeholders.Wefocusoureffortswherewecanhavethemostpositiveimpactonourbusinessandsocietyandarecommittedtomanagingtherisksandopportunitiesthatarisefromsustainabilityissues.Box’scommitmenttocorporate,environmental,andsocialresponsibilityisfocusedonthefollowingkeyareas:

DiversityandInclusion

Our mission is to power howthe world works together. We work better together in a world where a diversity ofbackgrounds,beliefsandideascanflourish.Webelieveouremployeeshavethepowertocreatelastingchangeinourcommunitiesandourworld.Thiscorebeliefinformsourapproachtodiversityandinclusion(“D&I”). Bybeingintentional about community and belonging, we also believe we can drive even better results. Our D&I workfocusesonthreekeyareas:

Hiring: Sourcing top, underrepresented talent through proactive, external relationship building. Promoting ourexternalbrand.Drivingconsistencywiththeinterviewandselectionprocess.

Thriving:EnsuringthatBoxemployeeshaveexceptionalcareerexperiences.Monitoringcareerdevelopmentandprogressionprocessestoreinforceconsistencyandfairness.

Belonging:CreatingspacewhereallBoxemployeescanbringtheirwholeselvestowork.Removingblindspotsthatunintentionallycauseharm.Nurturinghealthy,diversecommunities.

Weaimtoachievethesevaluesthroughavarietyofkeyprograms,including:

• D&I Advisory Council: We have a council made up of executives from across the company who focus on

drivingD&Istrategicplanningfortheirorganizationalareasandhelpingtogaintractiononcompanyinitiatives.

• Employee Resource Groups: Wehave 12 employee resource groups and a multitude of employee interest

groups that offer a variety of programming, including educational and advocacy events, external speakers,networkingandsocialactivitiesandmore.Anyonecanjoinandallareencouragedtobeallies.

• Thrive Committees: Wehavelocal committees in eachof our office locations madeupof business leaders

paired with employee resource groups, Box.Org and other employee volunteers to help drive localprogrammingandbelongingefforts.

• Boxer Experience Surveys: We seek employee feedback on a semi-annual basis to help us listen and

respondtoissuesandconcernsraisedaroundouremployees’experienceatBox.

• LearningCurriculum:WeofferprogramsforallBoxerstopromotegreaterawarenessoncoreissuesaround

diversityandinclusion,includingprogramsfocusedonourcompanyvaluessuchas“MakeMomProud”andonovercomingbias.

Wehave received external recognition for these efforts, including being namedto the 2020 Bloomberg Gender-EqualityIndex,receivingatopscoreof 100onthe2020HumanRightsCampaignCorporateEqualityIndexandachievingplacementonFortune’s100BestWorkplacesforDiversity, BestWorkplacesintheBayArea,and100BestCompaniestoWorkFor2020lists.

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OurCommitmenttoOurCommunities

Wearecommittedtopoweringhowtheworlddoesmoregoodtogether.Box.orgmobilizesourtechnology,talent,partnersandinstitutionalassetstoenablenonprofitstoinnovateandfulfilltheirmissions.Foundedin2014,Box.orgnow serves over 8,000 nonprofits with over $3 million worth of donated or discounted Box access, employeevolunteerhoursandcashgrantsfromtheBox.orgFund.

In addition, we are subject to the UK Modern Slavery Act of 2015 (the “Modern Slavery Act”). As part of ouradherence to the Modern Slavery Act, we publish an annual statement detailing our efforts to combat modernslaveryandhumantrafficking,whichisavailableonourwebsiteathttp://www.box.com/investors.

EnvironmentalSustainability

Weare committed to making our world a better andmore sustainable place. Box helps companies digitize theirbusinesses and facilitate remote work for their employees, which contributes to the reduction of paper-basedprocessesandlessenstheneedtocommutetowork. Throughourabilitytoenableremotework,ourtechnologysupportsplansforbusinesscontinuityintimesofnaturaldisasterorinthefaceofapandemic,includingtheabilityto work securely from anywhere on any device with an internet connection. In addition, through our work withenvironmentally-focused non-profits and through our own initiatives, we seek to limit our impact on theenvironment.Ineachofourmajorofficelocations,ouremployeeshaveorganizedGreenTeams,withafocusonpromotingsustainability.Somehighlightsofourenvironmentalsustainabilityinitiativesinclude:

• Transitioningourthird-partydatacentersintofacilitiesthatuse100%renewableenergy;

• EnsuringourRedwoodCity,CaliforniaheadquartersisLEEDGoldcertified;

• Savingover240,000kgofgreenhousegasemissionssinceDecember2014throughon-siteelectricvehicle

chargingstations;

• Limitingtheuseofsingle-useplasticsinourcafes,savingnearly1millionbottlesfromlandfillsthroughuseofreusablebottlesandothersustainablepackaging;

• Approximately40%oftheemployeesinourRedwoodCityheadquarterslocationusepublictransportationto

gettoandfromworkpartlyasaresultofthefreelocaltransportationpassesweofferemployees.InourLondonandTokyooffices,lessthan10%ofouremployeesdrivetheircarstowork;theother90%usepublictransitorhumanpowertogettowork;and

• OurRedwoodCityheadquarterscafeteriasourcesthevastmajorityofitsingredientsfromlocalandorganic

farmerswithina100mileradius,andfeaturesseveralmeatlesslunchdayseachyeartopromotesustainability.

ComplianceandEthics

Our culture of integrity starts with our Code of Business Conduct and Ethics (the “Code”) and our complianceprogram, which includes risk assessment, development of policies and procedures, training, auditing andmonitoring,andinvestigationsandremediationofpotentialcompliancematters.AcopyoftheCodeisavailableonourwebsiteathttp://www.box.com/investors.

The Code applies to all directors and employees, including our executive officers. The Code is reviewed on anannual basis for any changes to law or policy and updated as appropriate. New employees are required tocomplete training on the Code, and all employees must complete additional Code training and a compliancecertificationeachyear.

Throughout the year, we require our employees to complete supplementary in-person and online trainingsassociated with the compliance risks of specific roles and business functions, while various additional guidancehelpsimproveawarenessof our policies andour expectations for ethical behavior andasafe work environmentconsistentwithourvaluesandtheCode.

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ComplianceandEthics

Westrivetocreateaculturewhereopen,honestcommunicationsaretheexpectation,nottheexception.Wewantall employees to feel comfortable approaching their manager or any member of the Box leadership team ininstances where our value “Make Mom Proud” has not been upheld. All complaints and concerns regardingpossible violations of, or non-compliance with, the Code, a written statement of company policy or a law orregulation,orretaliatoryactsagainstanyonewhomakessuchacomplaintorassistsintheinvestigationofsuchacomplaint,maybemadebyphoneorwebreportingusingourconfidentialhotlineatbox.ethicspoint.com.Reportsmaybemadeanonymouslyandconfidentially.

PoliticalContributions

AllBoxemployeesmustcomplywithalllocal,state,federal,foreignandanyotherapplicablelawsandregulationsregarding political contributions. Company funds or assets cannot be used for, or be contributed to, politicalcampaigns or practices under any circumstances unless pre-approved by Box’s General Counsel and, ifnecessary,theNominatingandCorporateGovernanceCommitteeoftheBoard.However,itisacceptableforBoxemployees to make lawful personal political contributions. More information regarding our policies on politicalcontributionscanbefoundintheCode,whichisavailableonourwebsiteathttp://www.box.com/investors.

Data,Privacy,Security,andCompliance

We are focused on maintaining appropriate data governance and systems so we can maintain the trust of ourcustomersandotherstakeholders,whichisfundamentaltoourbusinesssuccess.OurSecurityteamisresponsiblefor our cyber security practices, security operations and data and platform protection, and our Legal team isresponsibleforglobalprivacylawcomplianceandrelatedoperations.Ourdata,privacy,securityandcompliancepracticesinclude:

• Wemaintainatransparentwebsiteandplatform,includingprivacyandcookienotices,toinformour

customersabouthowwecollect,use,share,disclose,retainandprotectpersonalinformationincompliancewithdataprotectionprinciplesandcertifications.

• Weprovideannualdataprotectionandsecuritytrainingtoallemployees,supplementedwithperiodic,

targeteddataprotection,privacyandsecuritytraining,asneeded.

• Wearededicatedtoprovidinghighlyeffectivesecurity,complianceanddataprotectionforourcustomers.We

maintainindustrystandardcertificationsforsecurityandprivacythatareassessedannuallybythird-partyauditors,independentthird-partyassessorsand/orinternallytoverifyourcompliance.Thesecertificationsinclude:

• ServiceandOrganizationControls(“SOC”)1,2,and3;InternationalOrganizationforStandardization

27001/27018;PaymentCardIndustryDataSecurityStandard;HealthInsurancePortabilityandAccountabilityAct(HIPAA)/HealthInformationTechnologyforEconomicandClinicalHealthAct(“HITECH”);FinancialIndustryRegulatoryAuthority(“FINRA”)/SecuritiesandExchangeCommission17a-4;DepartmentofDefenseCloudComputingSecurityRequirementsGuide(SRG);ImpactLevel4forControlledUnclassifiedInformation;andFederalRiskandAuthorizationManagementProgram(“FedRAMP”)/FederalInformationSecurityManagementAct(FISMA)compliance.

• Weadheretocomprehensivedatatransferrequirementsandprivacyframeworks,includingbutnotlimited

to,U.S.-E.U.PrivacyShield,Asia-PacificEconomicCooperation’sCross-BorderPrivacyRulesSystemandPrivacyRecognitionforProcessors,andE.U.ProcessorGlobalBindingCorporateRulesandControllerGlobalBindingCorporateRules.

• WealsomaintaincloudcertificationswiththeUnitedKingdom’sG-CloudFrameworkandGermany’sTUV

RhinelandCertifiedCloudServicesstandards.

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DirectorCompensation

UnderourOutsideDirectorCompensationPolicy,membersofourBoardofDirectorswhoarenotemployeesofBox(“outsidedirectors”)receivecompensationintheformofequityandcash.

Onaperiodicbasis,ourCompensationCommitteereviewswithanindependentcompensationconsultantthecompensationpaidtooutsidedirectors.Followingtheendoffiscalyear2020,ourCompensationCommitteerevieweddataprovidedbyCompensia,anationally-recognizedindependentcompensationconsultingfirm,withrespecttothecompensationprovidedtooutsidedirectorsofourpeercompanies.Thatreviewshowedthatthecompany’soutsidedirectorcompensationpracticesweregenerallyatthemedianoftheselectedpeercompaniesbutthatanoverwhelmingmajorityofpeercompaniesusedonlyrestrictedstockunitsfortheirequitycompensationgrants.

Inadditiontothegeneralcompensationdatareviewed,duetotheformationoftheOperatingCommittee,Compensiawasaskedtoprovidedataregardingcompensationpaidtodirectorswhoserveonspecialcommittees.TheinformationprovidedshowedthatspecialcommitteecompensationvariedwidelyandCompensia’sadvicewasthatitwouldbecommontodeterminethelevelofpaybasedonthescopeofresponsibilitiesandriskforanoperatingcommitteeascomparedtootherstandingcommitteesoftheBoardofDirectors.

InApril2020,basedonthisreview,theCompensationCommitteerecommendedandtheBoardofDirectorsapprovedanamendmenttoourOutsideDirectorCompensationPolicytoprovideforthefollowing,effectiveApril9,2020:(i)areductionofeachInitialEquityAwardfrom$450,000to$400,000,(ii)anannualcashretainerof$20,000tothechairoftheOperatingCommitteeand$8,000toeachothermemberoftheOperatingCommitteeand(iii)InitialEquityAwardsandAnnualEquityAwardstobecomprisedentirelyofrestrictedstockunits.BeforethisamendmentinApril2020,ourOutsideDirectorCompensationPolicyprovidedforthefollowingcompensationtoouroutsidedirectors,pursuanttowhichouroutsidedirectorsreceivedtheequityandcashcompensationforfiscalyear2020describedinthesectionbelowentitled“CompensationforFiscalYear2020”:

Cash Compensation

Eachyear,eachoutsidedirectorwaseligibletoreceiveacashretainerof$30,000forservingonourBoardofDirectors.Inaddition,eachyear,outsidedirectorswerealsoeligibletoreceivethefollowingcashfeesforserviceonthecommitteesofourBoardofDirectors:

CommitteeCommitteeMember

AnnualRetainer

CommitteeChair

AnnualRetainer

AuditCommittee $8,000 $20,000CompensationCommittee $8,000 $12,000NominatingandCorporateGovernanceCommittee $4,000 $ 8,000

Inaddition,eachyearourLeadIndependentDirectorwaseligibletoreceiveacashretainerof$12,000forserviceasourLeadIndependentDirector.

Equity Compensation

UponjoiningourBoardofDirectors,eachnewly-electedoutsidedirectorwhojoinedourBoardofDirectorspriortoApril2020receivedanequityawardwithavalueof$450,000(“InitialEquityAward”).TheInitialEquityAwardwascomprisedofstockoptionsandrestrictedstockunits,eachhavingavalueof50%oftheaggregateInitialEquityAward.TheInitialEquityAwardvestsgenerallyoverathree-yearperiod,subjecttocontinuedservicethrougheachvestingdate.

Onthedateofeachannualmeetingofourstockholders,eachoutsidedirectorreceivedanequityawardwithavalueof$200,000(“AnnualEquityAward”).TheAnnualEquityAwardwascomprisedofstockoptionsandrestrictedstockunits,eachhavingavalueof50%oftheaggregateAnnualEquityAward.TheAnnualEquityAwardfullyvestsupontheearlierofthe12-monthanniversaryofthegrantdateorthenextannualmeeting,ineachcase,subjecttocontinuedservicethroughthevestingdate.AnoutsidedirectorwasnoteligibleforanAnnualAwardunlesstheoutsidedirectorhadbeenadirectorforatleastonefullcalendaryearorsincethepreviousyear’sannualmeeting.

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Notwithstandingthevestingschedulesdescribedabove,thevestingofeachequityawardwillaccelerateinfulluponachangeincontrol.

ThenumberofrestrictedstockunitssubjecttoanInitialEquityAwardorAnnualEquityAwardwasdeterminedbydividingthespecifiedvalueoftherestrictedstockunitsbytheaverageclosingpriceofashareofourClassAcommonstockforthe30-tradingdayperiodendingthetradingdaybeforethegrantdate.ThenumberofstockoptionssubjecttoanInitialEquityAwardorAnnualEquityAwardwasdeterminedbymultiplyingthenumberofsharesofourClassAcommonstockdeterminedintheprecedingsentencebytwo.

Compensation for Fiscal Year 2020

Thefollowingtableprovidesinformationregardingthetotalcompensationthatwasearnedbyeachofournon-employeedirectorsinourfiscalyearendedJanuary31,2020.

Director(1)

FeesEarned

orPaidin

Cash($)

Option

Awards($)(2)

Stock

Awards($)(2) Total($)

SueBarsamian(3) 39,957 84,747 97,708 222,412

DanaEvan(3) 66,000 84,747 97,708 248,455

KimHammonds(4) 38,000 — — 38,000

SteveKrausz(5) 14,663 — — 14,663

PeterLeav(6) 23,440 195,160 219,843 438,443

DanLevin(3) 18,505 84,747 97,708 200,960

RoryO’Driscoll(3)(7) 52,065 84,747 97,708 234,520

JoshStein(3)(8) 46,000 84,747 97,708 228,455(1) Messrs.BassandLazar,andMs.MayerdidnotserveasdirectorsduringourfiscalyearendedJanuary31,2020andaccordingly

receivednocompensationduringtheyearthen-ended.(2) Theamountsreportedrepresenttheaggregategrant-datefairvalueofthestockoptionsandrestrictedstockunitsawardedtothe

director,calculatedinaccordancewithFASBASCTopic718.Theassumptionsusedincalculatingthegrant-datefairvalueofthestockoptionsandrestrictedstockunitsreportedinthiscolumnaresetforthinNote10toourauditedconsolidatedfinancialstatementsincludedinourAnnualReportonForm10-K,asfiledwiththeSEConMarch19,2020.

(3) AsofJanuary31,2020,eachofMses.BarsamianandEvanandMessrs.Levin,O’DriscollandSteinheldanoptiontopurchase10,632sharesofourClassAcommonstockand5,316RSUs.100%ofthesharesofourClassAcommonstocksubjecttotheseoptionsandunderlyingtheRSUsvestonJune19,2020.

(4) Ms.HammondsjoinedtheBoardinOctober2018atwhichtimeshereceivedinitialequityawardsunderourOutsideDirectorCompensationPolicy.UndertheOutsideDirectorCompensationPolicy,Ms.HammondswasnoteligibletoreceiveadditionalequitygrantsinthefiscalyearendedJanuary31,2020.

(5) Mr.KrauszresignedfromourBoardofDirectors,effectiveasofour2019AnnualMeetingofStockholdersonJune19,2019.(6) Mr.Leavjoinedourboardofdirectorsfollowingour2019AnnualMeetingofStockholders,onJune19,2019.AsofJanuary31,

2020,Mr.Leavheldanoptiontopurchase23,922sharesofourClassAcommonstockand11,961RSUs.ThesharesofourClassAcommonstocksubjecttotheseoptionsvestin36equal,monthlyinstallmentsbeginningwiththefirstmonthlyanniversaryofthegrantdate.ThesharesofourClassAcommonstockunderlyingtheRSUsvestinthreeannualinstallmentsbeginningwiththefirstanniversaryofthegrantdate.

(7) Mr.O’Driscollwillnotstandforre-electionattheAnnualMeeting.(8) Mr.SteinwillresignfromourBoardofDirectorseffectiveattheconclusionoftheAnnualMeeting.

Ourdirectorswhoarealsoouremployeesreceivenoadditionalcompensationfortheirserviceasdirectors.DuringourfiscalyearendedJanuary31,2020,Messrs.LevieandSmithwereouremployees.Seethesectiontitled“ExecutiveCompensation”foradditionalinformationaboutthecompensat