ADOBE INC. — Director's Dealing 2013

Mar 25, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2013-03-21

Reporting Person: DALEY JAMES E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-03-21	Common Stock	M	10000	$29.735	Acquired	18000	Direct
2013-03-21	Common Stock	S	10000	$42.500	Disposed	8000	Direct
2013-03-22	Common Stock	M	20000	$29.735	Acquired	28000	Direct
2013-03-22	Common Stock	S	20000	$42.875	Disposed	8000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-03-21	Stock Option (right to buy)	$29.7350	M	10000	Disposed	2015-04-29	Common Stock (10000)	Direct
2013-03-22	Stock Option (right to buy)	$29.7350	M	20000	Disposed	2015-04-29	Common Stock (20000)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $42.75 to $43. 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 granted on April 29, 2005 are fully vested and exercisable.