ADOBE INC. — Director's Dealing 2014

Dec 17, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2014-12-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-15	Common Stock	M	25000	$35.95	Acquired	43882	Direct
2014-12-15	Common Stock	M	25000	$42.61	Acquired	68882	Direct
2014-12-15	Common Stock	M	25000	$37.09	Acquired	93882	Direct
2014-12-15	Common Stock	S	75000	$75.5993	Disposed	18882	Direct
2014-12-17	Common Stock	G	1420	—	Disposed	723703	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-15	Stock Option (right to buy)	$35.95	M	25000	Disposed	2016-03-29	Common Stock (25000.0)	Direct
2014-12-15	Stock Option (right to buy)	$42.61	M	25000	Disposed	2017-04-06	Common Stock (25000.0)	Direct
2014-12-15	Stock Option (right to buy)	$37.09	M	25000	Disposed	2018-04-10	Common Stock (25000.0)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $75.20 to $76.02. 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.

F2: Bona fide gift of securities by reporting person-no consideration received.

F3: Shares held by The Warnock Family Trust uad 08/27/12 of which the reporting person is a trustee.

F4: Options granted March 29, 2006 are fully vested and exercisable.

F5: Options granted April 6, 2007 are fully vested and exercisable.

F6: Options granted April 10, 2008 are fully vested and exercisable.