ADOBE INC. — Director's Dealing 2013

Jul 10, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2013-07-08

Reporting Person: Wadhwani David (SVP & GM, Digital Media)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-07-08	Common Stock	M	30000	$34.6400	Acquired	53855	Direct
2013-07-08	Common Stock	M	9000	$35.7500	Acquired	62855	Direct
2013-07-08	Common Stock	M	39175	$34.0300	Acquired	102030	Direct
2013-07-08	Common Stock	M	24471	$34.1600	Acquired	126501	Direct
2013-07-08	Common Stock	S	101203	$46.6306	Disposed	25298	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-07-08	Stock Options (right to buy)	$34.64	M	30000	Disposed	2015-01-24	Common Stock (30000)	Direct
2013-07-08	Stock Options (right to buy)	$35.75	M	9000	Disposed	2015-04-15	Common Stock (9000)	Direct
2013-07-08	Stock Options (right to buy)	$34.03	M	39175	Disposed	2018-01-24	Common Stock (39175)	Direct
2013-07-08	Stock Options (right to buy)	$34.16	M	24471	Disposed	2017-01-25	Common Stock (24471)	Direct

Footnotes

F1: Includes 875 shares acquired on June 28, 2013 pursuant to Adobe's 1997 Employee Stock Purchase Plan, as amended.

F2: This transaction was executed in multiple trades at prices ranging from $46.55 to $47. 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.

F3: Options granted January 24, 2008 are fully vested and exercisable.

F4: Options granted April 15, 2008 are fully vested and exercisable.

F5: Stock options granted on January 24, 2011 vest at a rate of 2.08% per month for 48 months.

F6: Stock options granted on January 25, 2010 vest at a rate of 2.08% per month for 48 months.