ADOBE INC. — Director's Dealing 2020

Jan 28, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE INC. (ADBE)
CIK: 0000796343
Period of Report: 2020-01-24

Reporting Person: Morris Donna (EVP, CHRO, Employee Experience)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-24	Common Stock	M	37770	—	Acquired	77733	Indirect
2020-01-24	Common Stock	F	18726	$351.37	Disposed	59007	Indirect
2020-01-24	Common Stock	M	6295	—	Acquired	65302	Indirect
2020-01-24	Common Stock	F	3136	$351.37	Disposed	62166	Indirect
2020-01-24	Common Stock	M	4048	—	Acquired	66214	Indirect
2020-01-24	Common Stock	F	2006	$351.37	Disposed	64208	Indirect
2020-01-24	Common Stock	M	2450	—	Acquired	66658	Indirect
2020-01-24	Common Stock	F	1214	$351.37	Disposed	65444	Indirect
2020-01-28	Common Stock	S	13108	$347.7397	Disposed	52336	Indirect
2020-01-28	Common Stock	S	12373	$348.6079	Disposed	39963	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-24	Performance Shares	$0.0	M	37770	Disposed		Common Stock (37770.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	6295	Disposed		Common Stock (6295.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	4048	Disposed		Common Stock (4048.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	2450	Disposed		Common Stock (2450.0)	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 $347.21 to $348.20. 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 $348.21 to $349.10. 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: The Performance Shares vested in full upon the certification of performance goal achievement at 200% following the three-year anniversary of the January 24, 2017 vesting commencement date.

F6: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2017 vesting commencement date.

F7: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2018 vesting commencement date.

F8: Vests 25% on the first anniversary of the January 24, 2019 vesting commencement date and then 6.25% quarterly thereafter.