ADOBE INC. — Director's Dealing 2014

Mar 24, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2014-03-24

Reporting Person: WARNOCK JOHN E (Director, Co-Chairman of the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-20	Common Stock	G	23000	—	Disposed	745123	Indirect
2014-03-24	Common Stock	M	50000	$29.735	Acquired	66088	Direct
2014-03-24	Common Stock	S	50000	$65.625	Disposed	16088	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-24	Stock Option (right to buy)	$29.735	M	50000	Disposed	2015-04-29	Common Stock (50000)	Direct

Footnotes

F1: Bona fide gift of securities by reporting person-no consideration received.

F2: Shares held by The Warnock Family Trust uad 08/27/12 of which the reporting person is a trustee.

F3: This transaction was executed in multiple trades at prices ranging from $65.425 to $65.98. 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.

F4: Options granted April 29, 2005 are fully vested and exercisable.