ADOBE INC. — Director's Dealing 2026

Jan 27, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADOBE INC. (ADBE)
CIK: 0000796343
Period of Report: 2026-01-24

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-01-24	Common Stock	M	1255	—	Acquired	396537	Indirect
2026-01-24	Common Stock	F	622	$301.07	Disposed	395915	Indirect
2026-01-24	Common Stock	M	68298	—	Acquired	464213	Indirect
2026-01-24	Common Stock	F	33861	$301.07	Disposed	430352	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-24	Restricted Stock Units	$0	M	1255	Disposed		Common Stock (1255)	Direct
2026-01-24	Performance Shares	$0	M	68298	Disposed		Common Stock (68298)	Direct
2026-01-26	Restricted Stock Units	$0	A	45717	Acquired		Common Stock (45717)	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: Vests 25% on the first anniversary of the January 24, 2022 vesting commencement date and then 6.25% quarterly thereafter.

F4: Represents shares earned under the 2023 Performance Share Program that vested in full on the three-year anniversary of the January 24, 2023 vesting commencement date.

F5: Vests 6.25% quarterly from the vesting commencement date of January 15, 2026.