ADOBE INC. — Director's Dealing 2012

Dec 20, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2012-12-19

Reporting Person: SEDGEWICK ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-19	Common Stock	M	50000	$20.8250	Acquired	109261	Direct
2012-12-19	Common Stock	S	50000	$38.1429	Disposed	59261	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-19	Stock Option (right to buy)	$20.8250	M	50000	Disposed	2014-04-29	Common Stock (50000)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $38.095 to $38.190. 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: Options are fully vested and exercisable.