ADOBE INC. — Director's Dealing 2013

Apr 5, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2013-04-05

Reporting Person: NARAYEN SHANTANU (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-04-05	Common Stock	M	225000	$39.69	Acquired	455797	Direct
2013-04-05	Common Stock	S	225000	$43.3319	Disposed	230797	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-04-05	Stock Option(right to buy)	$39.69	M	225000	Disposed	2014-01-24	Common Stock (225000)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $43.24 to $43.58. 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 January 24, 2007 are fully vested and exercisable.