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: Rao Dana (EVP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-24	Common Stock	M	5200	—	Acquired	22398	Direct
2020-01-24	Common Stock	F	2281	$351.37	Disposed	20117	Direct
2020-01-24	Common Stock	M	866	—	Acquired	20983	Direct
2020-01-24	Common Stock	F	315	$351.37	Disposed	20668	Direct
2020-01-24	Common Stock	M	342	—	Acquired	21010	Direct
2020-01-24	Common Stock	F	169	$351.37	Disposed	20841	Direct
2020-01-24	Common Stock	M	2063	—	Acquired	22904	Direct
2020-01-24	Common Stock	F	1022	$351.37	Disposed	21882	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-24	Performance Shares	$0.0	M	5200	Disposed		Common Stock (5200.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	866	Disposed		Common Stock (866.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	342	Disposed		Common Stock (342.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	2063	Disposed		Common Stock (2063.0)	Direct
2020-01-27	Performance Shares	$0.0	A	14414	Acquired		Common Stock (14414.0)	Direct
2020-01-27	Restricted Stock Units	$0.0	A	7207	Acquired		Common Stock (7207.0)	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 200% following the three-year anniversary of the January 24, 2017 vesting commencement date.

F3: Vests at a rate of 1/3 annually of the first, second and third anniversaries of the January 24, 2017 vesting commencement date.

F4: Vests at a rate of 1/3 annually of the first, second and third anniversaries of the January 24, 2018 vesting commencement date.

F5: Vests 25% on the first anniversary of the January 24, 2019 vesting commencement date and then 6.25% quarterly thereafter.

F6: 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.

F7: The Performance Shares will vest in full upon the certification of performance goal achievement following the three-year anniversary of the January 24, 2020 vesting commencement date if the performance goal is achieved.

F8: Vests 25% on the first anniversary of the January 24, 2020 vesting commencement date and then 6.25% quarterly thereafter.