ADOBE INC. — Director's Dealing 2018

Jan 26, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE SYSTEMS INC (ADBE)
CIK: 0000796343
Period of Report: 2018-01-24

Reporting Person: Morris Donna (EVP, Cust. & Emp. Experience)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-01-24	Common Stock	M	37900	—	Acquired	102983	Indirect
2018-01-24	Common Stock	F	18057	$197.78	Disposed	84926	Indirect
2018-01-24	Common Stock	M	6316	—	Acquired	91242	Indirect
2018-01-24	Common Stock	F	3131	$197.78	Disposed	88111	Indirect
2018-01-24	Common Stock	M	6350	—	Acquired	94461	Indirect
2018-01-24	Common Stock	F	3148	$197.78	Disposed	91313	Indirect
2018-01-24	Common Stock	M	6295	—	Acquired	97608	Indirect
2018-01-24	Common Stock	F	3121	$197.78	Disposed	94487	Indirect
2018-01-25	Common Stock	S	12097	$196.7172	Disposed	82390	Indirect
2018-01-25	Common Stock	S	7907	$197.7295	Disposed	74483	Indirect
2018-01-25	Common Stock	S	9400	$198.6979	Disposed	65083	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-01-24	Performance Shares	$0.0	M	37900	Disposed		Common Stock (37900.0)	Direct
2018-01-24	Restricted Stock Units	$0.0	M	6316	Disposed		Common Stock (6316.0)	Direct
2018-01-24	Restricted Stock Units	$0.0	M	6350	Disposed		Common Stock (6350.0)	Direct
2018-01-24	Restricted Stock Units	$0.0	M	6295	Disposed		Common Stock (6295.0)	Direct
2018-01-24	Performance Shares	$0.0	A	24290	Acquired		Common Stock (24290.0)	Direct
2018-01-24	Restricted Stock Units	$0.0	A	12145	Acquired		Common Stock (12145.0)	Direct

Footnotes

F1: Shares held by The Morris Family Rev Trust.

F2: Shares surrendered to pay tax liability due at vesting.

F3: This transaction was executed in multiple trades at prices ranging from $196.18 to $197.15. 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: This transaction was executed in multiple trades at prices ranging from $197.18 to $198.16. 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.

F5: This transaction was executed in multiple trades at prices ranging from $198.19 to $199.15. 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.

F6: 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.

F7: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2015 vesting commencement date.

F8: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2016 vesting commencement date.

F9: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2017 vesting commencement date.

F10: 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.

F11: 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.

F12: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2018 vesting commencement date.