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ADOBE INC. — Director's Dealing 2014
Jan 28, 2014
29815_dirs_2014-01-28_8f64da1c-a8df-4582-9f3e-c41eec3fdc2a.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2014-01-24
Reporting Person: THOMPSON MATTHEW (EVP WW Field Operations)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2014-01-24 | Common Stock | M | 24166 | $00.00 | Acquired | 75041 | Direct |
| 2014-01-24 | Common Stock | F | 12608 | $59.09 | Disposed | 62433 | Direct |
| 2014-01-24 | Common Stock | M | 15625 | $00.00 | Acquired | 78058 | Direct |
| 2014-01-24 | Common Stock | F | 8153 | $59.09 | Disposed | 69905 | Direct |
| 2014-01-24 | Common Stock | M | 11266 | $00.00 | Acquired | 81171 | Direct |
| 2014-01-24 | Common Stock | F | 4316 | $59.09 | Disposed | 76855 | Direct |
| 2014-01-24 | Common Stock | M | 6750 | $00.00 | Acquired | 83605 | Direct |
| 2014-01-24 | Common Stock | F | 2696 | $59.09 | Disposed | 80909 | Direct |
| 2014-01-24 | Common Stock | M | 27500 | $00.00 | Acquired | 108409 | Direct |
| 2014-01-24 | Common Stock | F | 14349 | $59.09 | Disposed | 94060 | Direct |
| 2014-01-25 | Common Stock | M | 3750 | $00.00 | Acquired | 97810 | Direct |
| 2014-01-25 | Common Stock | F | 1956 | $59.09 | Disposed | 95854 | Direct |
| 2014-01-25 | Common Stock | M | 12500 | $00.00 | Acquired | 108354 | Direct |
| 2014-01-25 | Common Stock | F | 6522 | $59.09 | Disposed | 101832 | Direct |
| 2014-01-27 | Common Stock | S | 50957 | $58.0211 | Disposed | 50875 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2014-01-24 | Performance Shares | $0 | M | 24166 | Disposed | Common Stock (24166) | Direct | |
| 2014-01-24 | Restricted Stock Units | $0 | M | 15625 | Disposed | Common Stock (15625) | Direct | |
| 2014-01-24 | Performance Shares | $0 | M | 11266 | Disposed | Common Stock (11266) | Direct | |
| 2014-01-24 | Restricted Stock Units | $0 | M | 6750 | Disposed | Common Stock (6750) | Direct | |
| 2014-01-24 | Restricted Stock Units | $0 | M | 27500 | Disposed | Common Stock (27500) | Direct | |
| 2014-01-25 | Restricted Stock Units | $0 | M | 3750 | Disposed | Common Stock (3750) | Direct | |
| 2014-01-25 | Restricted Stock Units | $0 | M | 12500 | Disposed | Common Stock (12500) | Direct | |
| 2014-01-24 | Performance Shares | $0 | A | 80200 | Acquired | Common Stock (80200) | Direct | |
| 2014-01-24 | Restricted Stock Units | $0 | A | 40100 | Acquired | Common Stock (40100) | Direct |
Footnotes
F1: Shares surrendered to pay tax liability due at vesting of Performance Shares.
F2: Shares surrendered to pay tax liability due at vesting of Restricted Stock Units.
F3: This transaction was executed in multiple trades at prices ranging from $57.89 to $58.13. 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: Represents the number of shares acquired upon vesting of 1/3 of the Performance Shares earned by the participant in connection with the Performance Share award filed January 26, 2012. The participant earned 116% of the target award based on the achievement of certain pre-established performance goals during the 2012 fiscal year. The remaining Performance Shares will vest as to 1/3 of the full earned amount on the third anniversary of the January 24, 2012 grant date.
F5: RSU award granted on January 24, 2012 vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date. The remaining units will vest on January 24, 2015 as to 15,625 shares and January 24, 2016 as to the remaining 15,625 shares.
F6: Represents the number of shares acquired upon vesting of 1/3 of the Performance Shares earned by the participant in connection with the Performance Share award filed January 26, 2011. The participant earned 130% of the target award based on the achievement of certain pre-established performance goals during the 2011 fiscal year. This Performance Share award vested in full on the third anniversary of the January 24, 2011 grant date.
F7: RSU award granted on January 24, 2011 vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date. The remaining units will vest on January 24, 2015 as to the remaining 6,750 shares.
F8: Vests at a rate of 50% annually on the first and second anniversaries of the January 24, 2013 grant date. The remaining units will vest on January 24, 2015 as to the remaining 27,500 shares.
F9: RSU award granted on January 25, 2010 vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date. This Restricted Stock Unit award vested in full on January 25, 2014.
F10: RSU award granted on January 25, 2010 vested in full on January 25, 2014.
F11: Represents the maximum number of Performance Shares that will be earned, if at all, based on the achievement of a pre-established performance goal during the three-year performance period. Each Performance Share represents a contingent right to receive one share of ADBE common stock. The maximum number represents 200% of the target payout of 40,100 shares.
F12: The Performance Shares will vest in full upon the certification of performance goal achievement following the three-year anniversary of the January 24, 2014 grant date, if the performance goal is achieved.
F13: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2014 grant date.