ADOBE INC. — Director's Dealing 2025

Jul 17, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE INC. (ADBE)
CIK: 0000796343
Period of Report: 2025-07-15

Reporting Person: NARAYEN SHANTANU (Director, Chair and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-07-15	Common Stock	M	2200	—	Acquired	387996	Indirect
2025-07-15	Common Stock	F	1090	$364.18	Disposed	386906	Indirect
2025-07-15	Common Stock	M	1265	—	Acquired	388171	Indirect
2025-07-15	Common Stock	F	627	$364.18	Disposed	387544	Indirect
2025-07-15	Common Stock	M	1978	—	Acquired	389522	Indirect
2025-07-15	Common Stock	F	980	$364.18	Disposed	388542	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-07-15	Restricted Stock Units	$0	M	2200	Disposed		Common Stock (2200)	Direct
2025-07-15	Restricted Stock Units	$0	M	1265	Disposed		Common Stock (1265)	Direct
2025-07-15	Restricted Stock Units	$0	M	1978	Disposed		Common Stock (1978)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	324.143	Direct

Footnotes

F1: Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee.

F2: Shares surrendered to pay tax liability due at vesting.

F3: Includes 56.689 shares acquired on June 30, 2025 pursuant to Adobe's 2020 Employee Stock Purchase Plan, as amended.

F4: Vests 6.25% quarterly from the vesting commencement date of January 15, 2023.

F5: Vests 6.25% quarterly from the vesting commencement date of January 15, 2024.

F6: Vests 6.25% quarterly from the vesting commencement date of January 15, 2025.