SEC Form 4 · accession 0000796343-18-000033
ADOBE INC. · ADBE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bradley Rencher
Officer — EVP & GM, Experience Cloud
Period of report
Jan 24, 2018
Accepted (ET)
Jan 26, 2018 · 4:14 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, 2018 | M | 18,410 | $34.03 | A | 69,386 | D | |
| Common StockF1 | Jan 24, 2018 | S | 18,410 | $197.3288 | D | 50,976 | D | |
| Common Stock | Jan 24, 2018 | M | 51,600 | $0.00 | A | 102,576 | D | |
| Common StockF2 | Jan 24, 2018 | F | 22,146 | $197.78 | D | 80,430 | D | |
| Common Stock | Jan 24, 2018 | M | 8,600 | $0.00 | A | 89,030 | D | |
| Common StockF2 | Jan 24, 2018 | F | 3,814 | $197.78 | D | 85,216 | D | |
| Common Stock | Jan 24, 2018 | M | 8,618 | $0.00 | A | 93,834 | D | |
| Common StockF2 | Jan 24, 2018 | F | 3,822 | $197.78 | D | 90,012 | D | |
| Common Stock | Jan 24, 2018 | M | 8,657 | $0.00 | A | 98,669 | D | |
| Common StockF2 | Jan 24, 2018 | F | 3,839 | $197.78 | D | 94,830 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (right to buy)F3 | $34.03 | Jan 24, 2018 | M | 18,410 | D | Jan 24, 2018 | Jan 24, 2018 | Common Stock | 18,410 | 0 | D |
| Performance SharesF4 | $0.00 | Jan 24, 2018 | M | 51,600 | D | — | — | Common Stock | 51,600 | 0 | D |
| Restricted Stock UnitsF5 | $0.00 | Jan 24, 2018 | M | 8,600 | D | — | — | Common Stock | 8,600 | 0 | D |
| Restricted Stock UnitsF6 | $0.00 | Jan 24, 2018 | M | 8,618 | D | — | — | Common Stock | 8,618 | 8,618 | D |
| Restricted Stock UnitsF7 | $0.00 | Jan 24, 2018 | M | 8,657 | D | — | — | Common Stock | 8,657 | 17,313 | D |
| Performance SharesF8,F9 | $0.00 | Jan 24, 2018 | A | 31,950 | A | — | — | Common Stock | 31,950 | 31,950 | D |
| Restricted Stock UnitsF10 | $0.00 | Jan 24, 2018 | A | 15,975 | A | — | — | Common Stock | 15,975 | 15,975 | D |
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $197.29 to $197.60. 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.
- F10Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2018 vesting commencement date.
- F2Shares surrendered to pay tax liability due at vesting.
- F3Options granted January 24, 2011 are fully vested and exercisable.
- F4The Performance Shares vested in full upon the certification of performance goal achievement at 200% following the three-year anniversary of the January 24, 2015 grant date.
- F5Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2015 vesting commencement date.
- F6Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2016 vesting commencement date.
- F7Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2017 vesting commencement date.
- F8Represents 200% of the target payout (the maximum number of Performance Shares that will be earned, if at all) following the three-year performance period.
- F9The Performance Shares will vest in full upon the certification of performance goal achievement following the three-year anniversary of the January 24, 2018 vesting commencement date, if the performance goal is achieved.