David Wadhwani - Jan 24, 2023 Form 4 Insider Report for ADOBE INC. (ADBE)

Role
President, Digital Media
Signature
/s/ Allison Blais, as attorney-in-fact
Stock symbol
ADBE
Transactions as of
Jan 24, 2023
Transactions value $
-$308,567
Form type
4
Date filed
1/26/2023, 04:04 PM
Previous filing
Dec 15, 2022
Next filing
Mar 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADBE Common Stock Options Exercise $0 +2.42K +39.74% $0.00 8.52K Jan 24, 2023 Direct
transaction ADBE Common Stock Tax liability -$309K -854 -10.02% $361.32 7.67K Jan 24, 2023 Direct F1
holding ADBE Common Stock 355 Jan 24, 2023 By Trust F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ADBE Restricted Stock Units Options Exercise $0 -2.42K -25.01% $0.00 7.27K Jan 24, 2023 Common Stock 2.42K $0.00 Direct F3
transaction ADBE Performance Shares Award $0 +56.8K $0.00 56.8K Jan 24, 2023 Common Stock 56.8K $0.00 Direct F4, F5
transaction ADBE Restricted Stock Units Award $0 +12.2K $0.00 12.2K Jan 24, 2023 Common Stock 12.2K $0.00 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares surrendered to pay tax liability due at vesting.
F2 Shares held by the 2006 Wadhwani Family Trust dtd 04/26/2006 of which the reporting person is a trustee.
F3 Vests 25% on the first anniversary of the January 24, 2022 vesting commencement date and then 6.25% quarterly thereafter.
F4 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.
F5 The Performance Shares will vest in full upon the certification of performance goal achievements following the three-year anniversary of the January 24, 2023 vesting commencement date if the performance goals are achieved.
F6 Vests 6.25% quarterly from the vesting commencement date of January 15, 2023.