ADOBE INC. — Director's Dealing 2015

Jan 29, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2015-01-29

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-29	Common Stock	M	9168	$34.03	Acquired	47783	Direct
2015-01-29	Common Stock	S	39168	$70.0641	Disposed	8615	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-29	Stock Option (right to buy)	$34.03	M	9168	Disposed	2018-01-24	Common Stock (9168.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50000	Indirect
Common Stock	107	Indirect

Footnotes

F1: The option exercise 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: This transaction was executed in multiple trades at prices ranging from $69.8 to $70.25. 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: Shares held by the Garrett Living Trust, dtd 11/15/91 of which reporting person is a trustee.

F4: Shares held by the Garrett Family Investment Partnership LP.

F5: Options granted January 24, 2011 are fully vested and exercisable.