ADOBE INC. - Director's Dealing 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2011-04-20

Reporting Person: WARNOCK JOHN E (Director, Co-Chairman of the Board)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-12	Common Stock	G	100	—	Disposed	1140721	Direct
2011-04-20	Common Stock	M	5946	—	Acquired	1146667	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-20	Restricted Stock Units	$0	M	5946	Disposed		Common Stock (5946)	Direct
2011-04-25	Stock Option (right to buy)	$33.23	A	21276	Acquired	2018-04-25	Common Stock (21276)	Direct

F1: Bona fide gift of securities by reporting person--no consideration received.

F2: This restricted stock unit award vested in full on April 20, 2011.

F3: Options vest and become exercisable 100% on the day preceding the Issuer's next annual meeting of stockholders.