ADOBE INC. — Director's Dealing 2017

Jul 21, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2017-07-20

Reporting Person: Parasnis Abhay (EVP & CTO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-20	Common Stock	M	41750	—	Acquired	46908	Direct
2017-07-20	Common Stock	F	21785	$149.94	Disposed	25123	Direct
2017-07-21	Common Stock	S	12500	$149.3764	Disposed	12623	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-20	Restricted Stock Units	$0.0	M	41750	Disposed		Common Stock (41750.0)	Direct

Footnotes

F1: Includes 271 shares acquired on June 30, 2017 pursuant to Adobe's 1997 Employee Stock Purchase Plan, as amended.

F2: Shares surrendered to pay tax liability due at vesting of Restricted Stock Units.

F3: This transaction was executed in multiple trades at prices ranging from $149.35 to $149.5194. 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.

F4: Vests at a rate of 50% annually on the second and third anniversaries of the July 20, 2015 grant date.