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: Parasnis Abhay (EVP & CTO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-24	Common Stock	M	47210	—	Acquired	89690	Direct
2020-01-24	Common Stock	F	23406	$351.37	Disposed	66284	Direct
2020-01-24	Common Stock	M	7868	—	Acquired	74152	Direct
2020-01-24	Common Stock	F	3488	$351.37	Disposed	70664	Direct
2020-01-24	Common Stock	M	5113	—	Acquired	75777	Direct
2020-01-24	Common Stock	F	2535	$351.37	Disposed	73242	Direct
2020-01-24	Common Stock	M	3094	—	Acquired	76336	Direct
2020-01-24	Common Stock	F	1534	$351.37	Disposed	74802	Direct
2020-01-28	Common Stock	S	40000	$350	Disposed	34802	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-24	Performance Shares	$0.0	M	47210	Disposed		Common Stock (47210.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	7868	Disposed		Common Stock (7868.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	5113	Disposed		Common Stock (5113.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	3094	Disposed		Common Stock (3094.0)	Direct
2020-01-27	Performance Shares	$0.0	A	20180	Acquired		Common Stock (20180.0)	Direct
2020-01-27	Restricted Stock Units	$0.0	A	10090	Acquired		Common Stock (10090.0)	Direct

Footnotes

F1: Shares surrendered to pay tax liability due at vesting.

F2: This transaction was executed in multiple trades at prices ranging from $350.00 to $350.01. 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.

F3: 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.

F4: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2017 vesting commencement date.

F5: Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2018 vesting commencement date.

F6: Vests 25% on the first anniversary of the January 24, 2019 vesting commencement date and then 6.25% quarterly thereafter.

F7: 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.

F8: 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.

F9: Vests 25% on the first anniversary of the January 24, 2020 vesting commencement date and then 6.25% quarterly thereafter.