SEC Form 4 · accession 0000796343-18-000037
ADOBE INC. · ADBE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Shantanu Narayen
Officer — Chairman, President and CEO · Director
Period of report
Jan 24, 2018
Accepted (ET)
Jan 26, 2018 · 4:44 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 StockF1 | Jan 24, 2018 | M | 227,000 | $0.00 | A | 526,514 | I | by trust |
| Common StockF2,F1 | Jan 24, 2018 | F | 111,801 | $197.78 | D | 414,713 | I | by trust |
| Common StockF1 | Jan 24, 2018 | M | 37,833 | $0.00 | A | 452,546 | I | by trust |
| Common StockF2,F1 | Jan 24, 2018 | F | 18,757 | $197.78 | D | 433,789 | I | by trust |
| Common StockF1 | Jan 24, 2018 | M | 32,655 | $0.00 | A | 466,444 | I | by trust |
| Common StockF2,F1 | Jan 24, 2018 | F | 16,190 | $197.78 | D | 450,254 | I | by trust |
| Common StockF1 | Jan 24, 2018 | M | 28,327 | $0.00 | A | 478,581 | I | by trust |
| Common StockF2,F1 | Jan 24, 2018 | F | 14,044 | $197.78 | D | 464,537 | I | by trust |
| Common StockF3,F4,F1 | Jan 25, 2018 | S | 15,132 | $196.7502 | D | 449,405 | I | by trust |
| Common StockF3,F5,F1 | Jan 25, 2018 | S | 92,539 | $197.6312 | D | 356,866 | I | by trust |
| Common StockF3,F6,F1 | Jan 25, 2018 | S | 57,352 | $198.6211 | D | 299,514 | 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 SharesF7 | $0.00 | Jan 24, 2018 | M | 227,000 | D | — | — | Common Stock | 227,000 | 0 | D |
| Restricted Stock UnitsF8 | $0.00 | Jan 24, 2018 | M | 37,833 | D | — | — | Common Stock | 37,833 | 0 | D |
| Restricted Stock UnitF9 | $0.00 | Jan 24, 2018 | M | 32,655 | D | — | — | Common Stock | 32,655 | 32,655 | D |
| Restricted Stock UnitF10 | $0.00 | Jan 24, 2018 | M | 28,327 | D | — | — | Common Stock | 28,327 | 56,653 | D |
| Performance SharesF11,F12 | $0.00 | Jan 24, 2018 | A | 122,690 | A | — | — | Common Stock | 122,690 | 122,690 | D |
| Restricted Stock UnitF13 | $0.00 | Jan 24, 2018 | A | 61,345 | A | — | — | Common Stock | 61,345 | 61,345 | D |
Explanation of responses
- F1Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee.
- F10Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2017 vesting commencement date.
- F11Represents 200% of the target payout (the maximum number of Performance Shares that will be earned, if at all) following the three-year performance period.
- F12The 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.
- F13Vests 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.
- F3The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person October 23, 2017.
- F4This transaction was executed in multiple trades at prices ranging from $196.21 to $197.20. 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.
- F5This transaction was executed in multiple trades at prices ranging from $197.21 to $198.20. 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.
- F6This transaction was executed in multiple trades at prices ranging from $198.22 to $199.15. 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.
- F7The 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.
- F8Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2015 vesting commencement date.
- F9Vests at a rate of 1/3 annually on the first, second and third anniversaries of the January 24, 2016 vesting commencement date.