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: NARAYEN SHANTANU (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-24	Common Stock	M	169960	—	Acquired	469754	Indirect
2020-01-24	Common Stock	F	84266	$351.37	Disposed	385488	Indirect
2020-01-24	Common Stock	M	28326	—	Acquired	413814	Indirect
2020-01-24	Common Stock	F	14053	$351.37	Disposed	399761	Indirect
2020-01-24	Common Stock	M	20448	—	Acquired	420209	Indirect
2020-01-24	Common Stock	F	10138	$351.37	Disposed	410071	Indirect
2020-01-24	Common Stock	M	10312	—	Acquired	420383	Indirect
2020-01-24	Common Stock	F	5112	$351.37	Disposed	415271	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-24	Performance Shares	$0.0	M	169960	Disposed		Common Stock (169960.0)	Direct
2020-01-24	Restricted Stock Unit	$0.0	M	28326	Disposed		Common Stock (28326.0)	Direct
2020-01-24	Restricted Stock Unit	$0.0	M	20448	Disposed		Common Stock (20448.0)	Direct
2020-01-24	Restricted Stock Unit	$0.0	M	10312	Disposed		Common Stock (10312.0)	Direct
2020-01-27	Performance Shares	$0.0	A	131158	Acquired		Common Stock (131158.0)	Direct
2020-01-27	Restricted Stock Unit	$0.0	A	28106	Acquired		Common Stock (28106.0)	Direct

Footnotes

F1: Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee.

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

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.