SEC Form 4 · accession 0000796343-16-000244
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, 2016
Accepted (ET)
Jan 27, 2016 · 4:43 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, 2016 | M | 15,625 | $0.00 | A | 15,625 | D | |
| Common StockF1 | Jan 24, 2016 | F | 6,577 | $89.63 | D | 9,048 | D | |
| Common Stock | Jan 24, 2016 | M | 69,300 | $0.00 | A | 78,348 | D | |
| Common StockF1 | Jan 24, 2016 | F | 36,160 | $89.63 | D | 42,188 | D | |
| Common Stock | Jan 24, 2016 | M | 11,967 | $0.00 | A | 54,155 | D | |
| Common StockF1 | Jan 24, 2016 | F | 6,244 | $89.63 | D | 47,911 | D | |
| Common Stock | Jan 24, 2016 | M | 11,467 | $0.00 | A | 59,378 | D | |
| Common StockF1 | Jan 24, 2016 | F | 5,983 | $89.63 | D | 53,395 | D | |
| Common StockF3 | Jan 25, 2016 | S | 16,613 | $87.8996 | D | 36,782 | D | |
| Common StockF4 | Jan 25, 2016 | S | 36,782 | $88.8063 | D | 0 | D | |
| Common StockF5 | holding | — | — | — | 50,000 | I | by trust | |
| Common StockF6 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF7 | $0.00 | Jan 24, 2016 | M | 15,625 | D | — | — | Common Stock | 15,625 | 0 | D |
| Performance SharesF8 | $0.00 | Jan 24, 2016 | M | 69,300 | D | — | — | Common Stock | 69,300 | 0 | D |
| Restricted Stock UnitsF9 | $0.00 | Jan 24, 2016 | M | 11,967 | D | — | — | Common Stock | 11,967 | 11,966 | D |
| Restricted Stock UnitsF10 | $0.00 | Jan 24, 2016 | M | 11,467 | D | — | — | Common Stock | 11,467 | 22,933 | D |
| Performance SharesF11 | $0.00 | Jan 25, 2016 | A | 54,430 | A | — | — | Common Stock | 54,430 | 54,430 | D |
| Restricted Stock UnitsF12 | $0.00 | Jan 25, 2016 | A | 27,215 | A | — | — | Common Stock | 27,215 | 27,215 | D |
Explanation of responses
- F1Shares surrendered to pay tax liability due at vesting.
- F10Vests 1/3 on each of January 24, 2016, January 24, 2017 and January 24, 2018.
- F11The Performance Shares will vest in full upon the certification of performance goal achievement following the three-year anniversary of the January 24, 2016 vesting commencement date, if the performance goal is achieved.
- F12Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2016 vesting commencement date.
- F2The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person July 20, 2015.
- F3This transaction was executed in multiple trades at prices ranging from $87.41 to $88.40. 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.
- F4This transaction was executed in multiple trades at prices ranging from $88.41 to $89.23. 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.
- F5Shares held by the Garrett Living Trust, dtd 11/15/91, of which the reporting person is a trustee.
- F6Shares held by the Garrett Family Investment Partnership LP.
- F7RSU 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.
- F8The Performance Shares vested in full upon the certification of performance goal achievement at 198% following the three-year anniversary of the January 24, 2013 grant date.
- F9Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2014 grant date.