ADOBE INC. — Director's Dealing 2022

Jan 26, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE INC. (ADBE)
CIK: 0000796343
Period of Report: 2022-01-24

Reporting Person: Lewnes Ann (EVP, CMO, Corp Strategy & Dev)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-01-24	Common Stock	M	16458	—	Acquired	42129.754	Direct
2022-01-24	Common Stock	F	7963	—	Disposed	34166.754	Direct
2022-01-24	Common Stock	M	613	—	Acquired	34779.754	Direct
2022-01-24	Common Stock	F	223	—	Disposed	34556.754	Direct
2022-01-24	Common Stock	M	541	—	Acquired	35097.754	Direct
2022-01-24	Common Stock	F	268	—	Disposed	34829.754	Direct
2022-01-24	Common Stock	M	1676	—	Acquired	36505.754	Direct
2022-01-24	Common Stock	F	830	—	Disposed	35675.754	Direct
2022-01-25	Common Stock	S	140	$503.9243	Disposed	35535.754	Direct
2022-01-25	Common Stock	S	778	$504.9176	Disposed	34757.754	Direct
2022-01-25	Common Stock	S	2691	$506.08	Disposed	32066.754	Direct
2022-01-25	Common Stock	S	2290	$507.0619	Disposed	29776.754	Direct
2022-01-25	Common Stock	S	1765	$508.0914	Disposed	28011.754	Direct
2022-01-25	Common Stock	S	640	$509.2419	Disposed	27371.754	Direct
2022-01-25	Common Stock	S	600	$510.4092	Disposed	26771.754	Direct
2022-01-25	Common Stock	S	700	$511.20	Disposed	26071.754	Direct
2022-01-25	Common Stock	S	100	$511.96	Disposed	25971.754	Direct
2022-01-25	Common Stock	S	300	$513.2067	Disposed	25671.754	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-01-24	Performance Shares	$0.0	M	16458	Disposed		Common Stock (16458.0)	Direct
2022-01-24	Restricted Stock Units	$0.0	M	613	Disposed		Common Stock (613.0)	Direct
2022-01-24	Restricted Stock Units	$0.0	M	541	Disposed		Common Stock (541.0)	Direct
2022-01-24	Restricted Stock Units	$0.0	M	1676	Disposed		Common Stock (1676.0)	Direct
2022-01-24	Performance Shares	$0.0	A	13572	Acquired		Common Stock (13572.0)	Direct
2022-01-24	Restricted Stock Units	$0.0	A	6786	Acquired		Common Stock (6786.0)	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 30, 2021.

F3: This transaction was executed in multiple trades at prices ranging from $503.39 to $504.35. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F4: This transaction was executed in multiple trades at prices ranging from $504.44 to $505.43. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F5: This transaction was executed in multiple trades at prices ranging from $505.47 to $506.4. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F6: This transaction was executed in multiple trades at prices ranging from $506.53 to $507.5. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F7: This transaction was executed in multiple trades at prices ranging from $507.72 to $508.7. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F8: This transaction was executed in multiple trades at prices ranging from $508.755 to $509.61. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F9: This transaction was executed in multiple trades at prices ranging from $509.85 to $510.72. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F10: This transaction was executed in multiple trades at prices ranging from $510.96 to $511.5. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F11: This transaction was executed in multiple trades at prices ranging from $513.09 to $513.36. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.

F12: The Performance Shares vested in full upon the certification of performance goal achievement at 168% following the three-year anniversary of the January 24, 2019 vesting commencement date.

F13: Vests 25% on the first anniversary of the January 24, 2019 vesting commencement date and then 6.25% quarterly thereafter.

F14: Vests 25% on the first anniversary of the January 24, 2020 vesting commencement date and then 6.25% quarterly thereafter.

F15: Vests 25% on the first anniversary of the January 24, 2021 vesting commencement date and then 6.25% quarterly thereafter.

F16: 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.

F17: The Performance Shares will vest in full upon the certification of performance goal achievements following the three-year anniversary of the January 24, 2022 vesting commencement date if the performance goals are achieved.

F18: Vests 25% on the first anniversary of the January 24, 2022 vesting commencement date and then 6.25% quarterly thereafter.