ADOBE INC. — Director's Dealing 2010

Oct 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2010-10-12

Reporting Person: TARKOFF ROBERT M (SVP&GM, DESBU)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-10-12	Common Stock	M	15000	$19.93	Acquired	35353	Direct
2010-10-12	Common Stock	S	14340	$27.4	Disposed	21013	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-10-12	Stock Option (right to buy)	$19.93	M	15000	Disposed	2016-01-26	Common Stock (15000)	Direct

Footnotes

F1: Includes 1086 shares acquired on June 30, 2010 pursuant to Adobe's 1997 Employee Stock Purchase Plan.

F2: Vests at a rate of 2.08% per month for 48 months.