ADOBE INC. — Director's Dealing 2014

Jun 25, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2014-06-23

Reporting Person: Morris Donna (SVP, People and Places)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-06-23	Common Stock	M	8119	$34.16	Acquired	103946	Indirect
2014-06-23	Common Stock	M	17499	$34.03	Acquired	121445	Indirect
2014-06-23	Common Stock	S	35618	$72.6348	Disposed	85827	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-06-23	Stock Option (right to buy)	$34.16	M	8119	Disposed	2017-01-25	Common Stock (8119.0)	Direct
2014-06-23	Stock Option (right to buy)	$34.03	M	17499	Disposed	2018-01-24	Common Stock (17499.0)	Direct

Footnotes

F1: Shares held by The Morris Family Rev Trust.

F2: This transaction was executed in multiple trades at prices ranging from $72.5 to $72.84. 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 2.08% per month for 48 months following the January 25, 2010 grant date.

F4: Vests at a rate of 2.08% per month for 48 months following the January 24, 2011 grant date.