ADOBE INC. — Director's Dealing 2016

Jan 27, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2016-01-24

Reporting Person: ROWLEY RICHARD (VP, Corp. Controller & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-24	Common Stock	M	1787	—	Acquired	3135	Direct
2016-01-24	Common Stock	F	735	$89.63	Disposed	2400	Direct
2016-01-24	Common Stock	M	15493	—	Acquired	17893	Direct
2016-01-24	Common Stock	F	6713	$89.63	Disposed	11180	Direct
2016-01-24	Common Stock	M	1700	—	Acquired	12880	Direct
2016-01-24	Common Stock	F	887	$89.63	Disposed	11993	Direct
2016-01-24	Common Stock	M	1950	—	Acquired	13943	Direct
2016-01-24	Common Stock	F	1017	$89.63	Disposed	12926	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-24	Restricted Stock Units	$0.0	M	1787	Disposed		Common Stock (1787.0)	Direct
2016-01-24	Performance Shares	$0.0	M	15493	Disposed		Common Stock (15493.0)	Direct
2016-01-24	Restricted Stock Units	$0.0	M	1700	Disposed		Common Stock (1700.0)	Direct
2016-01-24	Restricted Stock Units	$0.0	M	1950	Disposed		Common Stock (1950.0)	Direct

Footnotes

F1: Shares surrendered to pay tax liability due at vesting.

F2: RSU award granted on January 24, 2012 vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date.

F3: The Performance Shares vested in full upon the certification of performance goal achievement at 198% following the three-year anniversary of the January 24, 2013 grant date.

F4: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2014 grant date.

F5: Vests 1/3 on each of January 24, 2016, January 24, 2017 and January 24, 2018.