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: Chen Gloria (EVP, Strategy & Growth)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-24	Common Stock	M	9450	—	Acquired	12933	Direct
2020-01-24	Common Stock	F	4685	$351.37	Disposed	8248	Direct
2020-01-24	Common Stock	M	1575	—	Acquired	9823	Direct
2020-01-24	Common Stock	F	797	$351.37	Disposed	9026	Direct
2020-01-24	Common Stock	M	853	—	Acquired	9879	Direct
2020-01-24	Common Stock	F	422	$351.37	Disposed	9457	Direct
2020-01-24	Common Stock	M	1032	—	Acquired	10489	Direct
2020-01-24	Common Stock	F	511	$351.37	Disposed	9978	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-24	Performance Shares	$0.0	M	9450	Disposed		Common Stock (9450.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	1575	Disposed		Common Stock (1575.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	853	Disposed		Common Stock (853.0)	Direct
2020-01-24	Restricted Stock Units	$0.0	M	1032	Disposed		Common Stock (1032.0)	Direct
2020-01-27	Performance Shares	$0.0	A	10090	Acquired		Common Stock (10090.0)	Direct
2020-01-27	Restricted Stock Units	$0.0	A	5045	Acquired		Common Stock (5045.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	667	Indirect

Footnotes

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

F2: Shares held by The John Kibarian and Gloria Chen Trust, dated 4/8/2004 of which the reporting person is a trustee.

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 of the first, second and third anniversaries of the January 24, 2017 vesting commencement date.

F5: Vests at a rate of 1/3 annually of 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.