ADOBE INC. — Director's Dealing 2014

Oct 31, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2014-10-31

Reporting Person: GARRETT MARK (EVP, CFO & Asst. Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-10-31	Common Stock	M	34000	$34.16	Acquired	45899	Direct
2014-10-31	Common Stock	M	78832	$34.03	Acquired	124731	Direct
2014-10-31	Common Stock	S	124731	$70	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-10-31	Stock Option (right to buy)	$34.16	M	34000	Disposed	2017-01-25	Common Stock (34000.0)	Direct
2014-10-31	Stock Option (right to buy)	$34.03	M	78832	Disposed	2018-01-24	Common Stock (78832.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50000	Indirect
Common Stock	107	Indirect

Footnotes

F1: The option exercises and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person July 31, 2014.

F2: Shares held by the Garrett Living Trust, dtd 11/15/91 of which reporting person is a trustee.

F3: Shares held by the Garrett Family Investment Partnership LP.

F4: Options granted January 25, 2010 are fully vested and exercisable.

F5: Vests at a rate of 2.08% per month for 48 months following the January 24, 2011 grant date.