ADOBE INC. — Director's Dealing 2021

Jan 26, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE INC. (ADBE)
CIK: 0000796343
Period of Report: 2021-01-24

Reporting Person: Murphy John Francis (EVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-01-24	Common Stock	M	7670	—	Acquired	19553	Direct
2021-01-24	Common Stock	F	3676	$472.44	Disposed	15877	Direct
2021-01-24	Common Stock	M	1278	—	Acquired	17155	Direct
2021-01-24	Common Stock	F	453	$472.44	Disposed	16702	Direct
2021-01-24	Common Stock	M	773	—	Acquired	17475	Direct
2021-01-24	Common Stock	F	383	$472.44	Disposed	17092	Direct
2021-01-24	Common Stock	M	2523	—	Acquired	19615	Direct
2021-01-24	Common Stock	F	1250	$472.44	Disposed	18365	Direct
2021-01-25	Common Stock	S	2139	$474.51	Disposed	16226	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-01-24	Performance Shares	$0.0	M	7670	Disposed		Common Stock (7670.0)	Direct
2021-01-24	Restricted Stock Unit	$0.0	M	1278	Disposed		Common Stock (1278.0)	Direct
2021-01-24	Restricted Stock Units	$0.0	M	773	Disposed		Common Stock (773.0)	Direct
2021-01-24	Restricted Stock Units	$0.0	M	2523	Disposed		Common Stock (2523.0)	Direct
2021-01-25	Performance Shares	$0.0	A	13940	Acquired		Common Stock (13940.0)	Direct
2021-01-25	Restricted Stock Units	$0.0	A	6970	Acquired		Common Stock (6970.0)	Direct

Footnotes

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

F2: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person April 17, 2020.

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, 2018 vesting commencement date.

F4: Vests at a rate of 1/3 annually on 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: Vests 25% on the first anniversary of the January 24, 2020 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, 2021 vesting commencement date if the performance goal is achieved.

F9: Vests 25% on the first anniversary of the January 24, 2021 vesting commencement date and then 6.25% quarterly thereafter.