ADOBE INC. — Director's Dealing 2015

May 4, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2015-04-30

Reporting Person: Rencher Bradley (SVP & GM, Digital Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-30	Common Stock	M	12500	$34.16	Acquired	53658	Direct
2015-04-30	Common Stock	M	12500	$34.03	Acquired	66158	Direct
2015-04-30	Common Stock	S	25000	$76	Disposed	41158	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-30	Stock Options (right to buy)	$34.16	M	12500	Disposed	2017-01-25	Common Stock (12500.0)	Direct
2015-04-30	Stock Options (right to buy)	$34.03	M	12500	Disposed	2018-01-24	Common Stock (12500.0)	Direct

Footnotes

F1: Options granted January 25, 2010 are fully vested and exercisable.

F2: Options granted January 24, 2011 are fully vested and exercisable.