ADOBE INC. — Director's Dealing 2013

Sep 20, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2013-09-19

Reporting Person: ROWLEY RICHARD (VP, Corp. Controller & PAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-09-19	Common Stock	M	3035	$34.1600	Acquired	20016	Direct
2013-09-19	Common Stock	M	3021	$34.0300	Acquired	23037	Direct
2013-09-19	Common Stock	S	6056	$51.8517	Disposed	16981	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-09-19	Stock Options (right to buy)	$34.16	M	3035	Disposed	2017-01-25	Common Stock (3035)	Direct
2013-09-19	Stock Options (right to buy)	$34.03	M	3021	Disposed	2018-01-24	Common Stock (3021)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $51.85 to $51.86. 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: Vests monthly at a rate of 2.08% of the original grant of 23,000 shares for 48 months from the original grant date of January 25, 2010.

F3: Vests monthly at a rate of 2.08% of the original grant of 29,000 shares for 48 months from the original grant date of January 24, 2011.