ADOBE INC. — Director's Dealing 2012

Dec 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2012-12-17

Reporting Person: ROWLEY RICHARD (VP, Corp. Controller & PAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-17	Common Stock	M	29108	$19.9300	Acquired	57964	Direct
2012-12-17	Common Stock	S	29108	$37.1551	Disposed	28856	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-17	Stock Options (right to buy)	$19.9300	M	29108	Disposed	2016-01-26	Common Stock (29108)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $37.140 to $37.185. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

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