SEC Form 4 · accession 0000796343-15-000036
ADOBE INC. · ADBE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark Garrett
Officer — EVP, CFO & Asst. Secretary
Period of report
Jan 24, 2015
Accepted (ET)
Jan 28, 2015 · 5:45 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000796343
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jan 24, 2015 | M | 24,166 | $0.00 | A | 24,166 | D | |
| Common StockF1 | Jan 24, 2015 | F | 11,732 | $74.06 | D | 12,434 | D | |
| Common Stock | Jan 24, 2015 | M | 15,625 | $0.00 | A | 28,059 | D | |
| Common StockF2 | Jan 24, 2015 | F | 8,153 | $74.06 | D | 19,906 | D | |
| Common Stock | Jan 24, 2015 | M | 7,500 | $0.00 | A | 27,406 | D | |
| Common StockF2 | Jan 24, 2015 | F | 2,883 | $74.06 | D | 24,523 | D | |
| Common Stock | Jan 24, 2015 | M | 17,500 | $0.00 | A | 42,023 | D | |
| Common StockF2 | Jan 24, 2015 | F | 9,131 | $74.06 | D | 32,892 | D | |
| Common Stock | Jan 24, 2015 | M | 11,967 | $0.00 | A | 44,859 | D | |
| Common StockF2 | Jan 24, 2015 | F | 6,244 | $74.06 | D | 38,615 | D | |
| Common StockF3 | holding | — | — | — | 50,000 | I | by trust | |
| Common StockF4 | holding | — | — | — | 107 | I | by trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF5 | $0.00 | Jan 24, 2015 | M | 24,166 | D | — | — | Common Stock | 24,166 | 0 | D |
| Restricted Stock UnitsF6 | $0.00 | Jan 24, 2015 | M | 15,625 | D | — | — | Common Stock | 15,625 | 15,625 | D |
| Restricted Stock UnitsF7 | $0.00 | Jan 24, 2015 | M | 7,500 | D | — | — | Common Stock | 7,500 | 0 | D |
| Restricted Stock UnitsF8 | $0.00 | Jan 24, 2015 | M | 17,500 | D | — | — | Common Stock | 17,500 | 0 | D |
| Restricted Stock UnitsF9 | $0.00 | Jan 24, 2015 | M | 11,967 | D | — | — | Common Stock | 11,967 | 23,933 | D |
| Performance SharesF10,F11 | $0.00 | Jan 26, 2015 | A | 68,800 | A | — | — | Common Stock | 68,800 | 68,800 | D |
| Restricted Stock UnitsF12 | $0.00 | Jan 26, 2015 | A | 34,400 | A | — | — | Common Stock | 34,400 | 34,400 | D |
Explanation of responses
- F1Shares surrendered to pay tax liability due at vesting of Performance Shares.
- F10Represents the maximum number of Performance Shares that will be earned, if at all, based on the achievement of a pre-established performance goal during the three-year performance period. Each Performance Share represents a contingent right to receive one share of ADBE common stock. The maximum number represents 200% of the target payout of 34,400 shares.
- F11The Performance Shares will vest in full upon the certification of performance goal achievement on or after January 24, 2018, if the performance goal is achieved and the holder continues to provide services to the Company on such date.
- F12Vests 1/3 on each of January 24, 2016, January 24, 2017 and January 24, 2018.
- F2Shares surrendered to pay tax liability due at vesting of Restricted Stock Units.
- F3Shares held by the Garrett Living Trust, dtd 11/15/91 of which reporting person is a trustee.
- F4Shares held by the Garrett Family Investment Partnership LP.
- F5Represents the number of shares acquired upon vesting of 1/3 of the Performance Shares earned by the participant in connection with the Performance Share award filed January 26, 2012. The participant earned 116% of the target award based on the achievement of certain pre-established performance goals during the 2012 fiscal year. This Performance Share award vested in full on the third anniversary of the January 24, 2012 grant date.
- F6RSU award granted on January 24, 2012 vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date. The remaining units will vest on January 24, 2016 as to the remaining 15,625 shares.
- F7RSU award granted on January 24, 2011 vests at a rate of 25% annually on the first, second, third and fourth anniversaries of the grant date. This Restricted Stock Unit award vested in full on January 24, 2015.
- F8Vests at a rate of 50% annually on the first and second anniversaries of the January 24, 2013 grant date. This Restricted Stock Unit award vested in full on January 24, 2015.
- F9RSU award granted on January 24, 2014 vests at a rate of 1/3 annually on the first, second and third anniversaries of the grant date. The remaining units will vest on January 24, 2016 as to 11,967 shares and January 24, 2017 as to the remaining 11,966 shares.