ADOBE INC. — Director's Dealing 2013

Jul 16, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2013-07-12

Reporting Person: Rencher Bradley (SVP & GM, Digital Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-07-12	Common Stock	M	2704	$22.1300	Acquired	22601	Direct
2013-07-12	Common Stock	M	348	$18.3800	Acquired	22949	Direct
2013-07-12	Common Stock	M	44791	$36.8100	Acquired	67740	Direct
2013-07-12	Common Stock	S	48581	$48.2982	Disposed	19159	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-07-12	Stock Options (right to buy)	$22.13	M	2704	Disposed	2019-07-30	Common Stock (2704)	Direct
2013-07-12	Stock Options (right to buy)	$18.38	M	348	Disposed	2019-02-26	Common Stock (348)	Direct
2013-07-12	Stock Options (right to buy)	$36.81	M	44791	Disposed	2016-11-16	Common Stock (44791)	Direct

Footnotes

F1: Includes 777 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 $48.25 to $48.383. 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: Vests at a rate of 25% of the original grant of 18,545 shares on July 31, 2010, and 2.08% per month for 36 months thereafter.

F4: Options are fully vested and exercisable.

F5: Options granted November 16, 2009 vest at a rate of 25% on the first anniversary of the grant date, and 2.08% per month for 36 months thereafter.