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: DILLON MICHAEL A (EVP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-24	Common Stock	M	49500	—	Acquired	74673	Direct
2016-01-24	Common Stock	F	24259	$89.63	Disposed	50414	Direct
2016-01-24	Common Stock	M	6333	—	Acquired	56747	Direct
2016-01-24	Common Stock	F	3304	$89.63	Disposed	53443	Direct
2016-01-24	Common Stock	M	5734	—	Acquired	59177	Direct
2016-01-24	Common Stock	F	2992	$89.63	Disposed	56185	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-24	Performance Shares	$0.0	M	49500	Disposed		Common Stock (49500.0)	Direct
2016-01-24	Restricted Stock Units	$0.0	M	6333	Disposed		Common Stock (6333.0)	Direct
2016-01-24	Restricted Stock Units	$0.0	M	5734	Disposed		Common Stock (5734.0)	Direct
2016-01-25	Performance Shares	$0.0	A	38100	Acquired		Common Stock (38100.0)	Direct
2016-01-25	Restricted Stock Units	$0.0	A	19050	Acquired		Common Stock (19050.0)	Direct

Footnotes

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

F2: 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.

F3: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2014 grant date.

F4: Vests 1/3 on each of January 24, 2016, January 24, 2017 and January 24, 2018.

F5: The Performance Shares will vest in full upon the certification of performance goal achievement following the three-year anniversary of the January 24, 2016 vesting commencement date, if the performance goal is achieved.

F6: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2016 vesting commencement date.