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ADOBE INC. — Director's Dealing 2018
Jan 26, 2018
29815_dirs_2018-01-26_b8ab0ad9-69be-4923-83a9-2f38f01285f3.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2018-01-24
Reporting Person: Rencher Bradley (EVP & GM, Experience Cloud)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2018-01-24 | Common Stock | M | 18410 | $34.03 | Acquired | 69386 | Direct |
| 2018-01-24 | Common Stock | S | 18410 | $197.3288 | Disposed | 50976 | Direct |
| 2018-01-24 | Common Stock | M | 51600 | — | Acquired | 102576 | Direct |
| 2018-01-24 | Common Stock | F | 22146 | $197.78 | Disposed | 80430 | Direct |
| 2018-01-24 | Common Stock | M | 8600 | — | Acquired | 89030 | Direct |
| 2018-01-24 | Common Stock | F | 3814 | $197.78 | Disposed | 85216 | Direct |
| 2018-01-24 | Common Stock | M | 8618 | — | Acquired | 93834 | Direct |
| 2018-01-24 | Common Stock | F | 3822 | $197.78 | Disposed | 90012 | Direct |
| 2018-01-24 | Common Stock | M | 8657 | — | Acquired | 98669 | Direct |
| 2018-01-24 | Common Stock | F | 3839 | $197.78 | Disposed | 94830 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2018-01-24 | Stock Options (right to buy) | $34.03 | M | 18410 | Disposed | 2018-01-24 | Common Stock (18410.0) | Direct |
| 2018-01-24 | Performance Shares | $0.0 | M | 51600 | Disposed | Common Stock (51600.0) | Direct | |
| 2018-01-24 | Restricted Stock Units | $0.0 | M | 8600 | Disposed | Common Stock (8600.0) | Direct | |
| 2018-01-24 | Restricted Stock Units | $0.0 | M | 8618 | Disposed | Common Stock (8618.0) | Direct | |
| 2018-01-24 | Restricted Stock Units | $0.0 | M | 8657 | Disposed | Common Stock (8657.0) | Direct | |
| 2018-01-24 | Performance Shares | $0.0 | A | 31950 | Acquired | Common Stock (31950.0) | Direct | |
| 2018-01-24 | Restricted Stock Units | $0.0 | A | 15975 | Acquired | Common Stock (15975.0) | Direct |
Footnotes
F1: This transaction was executed in multiple trades at prices ranging from $197.29 to $197.60. 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.
F2: Shares surrendered to pay tax liability due at vesting.
F3: Options granted January 24, 2011 are fully vested and exercisable.
F4: The Performance Shares vested in full upon the certification of performance goal achievement at 200% following the three-year anniversary of the January 24, 2015 grant date.
F5: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2015 vesting commencement date.
F6: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2016 vesting commencement date.
F7: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2017 vesting commencement date.
F8: Represents 200% of the target payout (the maximum number of Performance Shares that will be earned, if at all) following the three-year performance period.
F9: The Performance Shares will vest in full upon the certification of performance goal achievement following the three-year anniversary of the January 24, 2018 vesting commencement date, if the performance goal is achieved.
F10: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2018 vesting commencement date.