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: Lewnes Ann (EVP, Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-12-30	Common Stock	G	1514	—	Disposed	0	Indirect
2020-01-24	Common Stock	M	37770	—	Acquired	76854	Direct
2020-01-24	Common Stock	F	18726	$351.37	Disposed	58128	Direct
2020-01-24	Common Stock	M	6295	—	Acquired	64423	Direct
2020-01-24	Common Stock	F	3136	$351.37	Disposed	61287	Direct
2020-01-24	Common Stock	M	4048	—	Acquired	65335	Direct
2020-01-24	Common Stock	F	2006	$351.37	Disposed	63329	Direct
2020-01-24	Common Stock	M	2450	—	Acquired	65779	Direct
2020-01-24	Common Stock	F	1214	$351.37	Disposed	64565	Direct

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
2020-01-27	Performance Shares	$0.0	A	17296	Acquired		Common Stock (17296.0)	Direct
2020-01-27	Restricted Stock Units	$0.0	A	8648	Acquired		Common Stock (8648.0)	Direct

Footnotes

F1: Shares held by the Welch and Lewnes Family Living Trust dtd 11/14/2005 of which the 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.