ADOBE INC. - Director's Dealing 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2014-07-15

Reporting Person: Lewnes Ann (SVP, Chief Marketing Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-15	Common Stock	M	1113	$34.03	Acquired	33261	Direct
2014-07-15	Common Stock	M	1689	$34.16	Acquired	34950	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-07-15	Stock Option (right to buy)	$34.03	M	1113	Disposed	2018-01-24	Common Stock (1113.0)	Direct
2014-07-15	Stock Option (right to buy)	$34.16	M	1689	Disposed	2017-01-25	Common Stock (1689.0)	Direct

F1: Includes 421 shares acquired on June 30, 2014 pursuant to Adobe's 1997 Employee Stock Purchase Plan, as amended.

F2: Vests at a rate of 2.08% per month for 48 months following the January 24, 2011 grant date.

F3: Options granted January 25, 2010 are fully vested and exercisable.