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: Chen Gloria (EVP, Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-01-24	Common Stock	M	5120	—	Acquired	12584	Direct
2021-01-24	Common Stock	F	2538	$472.44	Disposed	10046	Direct
2021-01-24	Common Stock	M	853	—	Acquired	10899	Direct
2021-01-24	Common Stock	F	436	$472.44	Disposed	10463	Direct
2021-01-24	Common Stock	M	258	—	Acquired	10721	Direct
2021-01-24	Common Stock	F	127	$472.44	Disposed	10594	Direct
2021-01-24	Common Stock	M	1262	—	Acquired	11856	Direct
2021-01-24	Common Stock	F	625	$472.44	Disposed	11231	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-01-24	Performance Shares	$0.0	M	5120	Disposed		Common Stock (5120.0)	Direct
2021-01-24	Restricted Stock Units	$0.0	M	853	Disposed		Common Stock (853.0)	Direct
2021-01-24	Restricted Stock Units	$0.0	M	258	Disposed		Common Stock (258.0)	Direct
2021-01-24	Restricted Stock Units	$0.0	M	1262	Disposed		Common Stock (1262.0)	Direct
2021-01-25	Performance Shares	$0.0	A	12868	Acquired		Common Stock (12868.0)	Direct
2021-01-25	Restricted Stock Units	$0.0	A	6434	Acquired		Common Stock (6434.0)	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, 2018 vesting commencement date.

F4: Vests at a rate of 1/3 annually of 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.