NARAYEN SHANTANU (Chairman, President and CEO) exercised options at ADOBE INC.

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 3 exercises

NARAYEN SHANTANU

Filed: 1/16/2026ACC: 0000796343-26-000014

InsiderNARAYEN SHANTANUCIK 1224154

→

IssuerADOBE INC.CIK 796343

DirectorOfficer· Chairman, President and CEO

Since Jan 2019

+49.28K

Net shares

Net buyer

$825.6K

Total sold

Open market trades

0B · 0S

Total transactions

57.44K acquired · 8.16K disposed

Non-Derivative Transactions6

Common Stock

Indirect

M · Option Exercise

+2.20K

Price / share

—

Trade value

—

% of position

0.6%

1/15/2026

392.55K→394.75K

Common Stock

Indirect

F · Tax Withholding

−1.11K

Price / share

$304.09

Trade value

$336.93K

% of position

0.3%

1/15/2026

394.75K→393.65K

Common Stock

Indirect

M · Option Exercise

+1.26K

Price / share

—

Trade value

—

% of position

0.3%

1/15/2026

393.65K→394.91K

Common Stock

Indirect

F · Tax Withholding

−627.00

Price / share

$304.09

Trade value

$190.66K

% of position

0.2%

1/15/2026

394.91K→394.28K

Common Stock

Indirect

M · Option Exercise

+1.98K

Price / share

—

Trade value

—

% of position

0.5%

1/15/2026

394.28K→396.26K

Common Stock

Indirect

F · Tax Withholding

−980.00

Price / share

$304.09

Trade value

$298.01K

% of position

0.2%

1/15/2026

396.26K→395.28K

Total

Net shares

+2.73K

Net value

-$825.60K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Indirect	1/15/2026	M · Option Exercise	+2.20K	—	—	0.6%	392.55K	394.75K
Common Stock Indirect	1/15/2026	F · Tax Withholding	−1.11K	$304.09	$336.93K	0.3%	394.75K	393.65K
Common Stock Indirect	1/15/2026	M · Option Exercise	+1.26K	—	—	0.3%	393.65K	394.91K
Common Stock Indirect	1/15/2026	F · Tax Withholding	−627.00	$304.09	$190.66K	0.2%	394.91K	394.28K
Common Stock Indirect	1/15/2026	M · Option Exercise	+1.98K	—	—	0.5%	394.28K	396.26K
Common Stock Indirect	1/15/2026	F · Tax Withholding	−980.00	$304.09	$298.01K	0.2%	396.26K	395.28K
Total			+2.73K		-$825.60K

Derivative Transactions6

Restricted Stock Units

Direct

A · Award

Converts to

Common Stock

32.03K shares

+32.03K

Strike price

Held after

32.03K

Exercisable

—

1/14/2026

Restricted Stock Units

Direct

A · Award

Converts to

Common Stock

7.79K shares

+7.79K

Strike price

Held after

7.79K

Exercisable

—

1/14/2026

Restricted Stock Units

Direct

A · Award

Converts to

Common Stock

12.18K shares

+12.18K

Strike price

Held after

12.18K

Exercisable

—

1/14/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock

2.20K shares

−2.20K

Strike price

Held after

8.80K

Exercisable

—

1/15/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock

1.26K shares

−1.26K

Strike price

Held after

10.12K

Exercisable

—

1/15/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock

1.98K shares

−1.98K

Strike price

Held after

23.73K

Exercisable

—

1/15/2026

Security	Converts To	Date	Type	Shares	Exercisable	Held After
Restricted Stock Units Direct	Common Stock32.03K shares	1/14/2026	A · Award	+32.03K	—	32.03K
Restricted Stock Units Direct	Common Stock7.79K shares	1/14/2026	A · Award	+7.79K	—	7.79K
Restricted Stock Units Direct	Common Stock12.18K shares	1/14/2026	A · Award	+12.18K	—	12.18K
Restricted Stock Units Direct	Common Stock2.20K shares	1/15/2026	M · Option Exercise	−2.20K	—	8.80K
Restricted Stock Units Direct	Common Stock1.26K shares	1/15/2026	M · Option Exercise	−1.26K	—	10.12K
Restricted Stock Units Direct	Common Stock1.98K shares	1/15/2026	M · Option Exercise	−1.98K	—	23.73K

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Direct

Shares owned324.14

Total

324.14 direct324.14

Security Title	Shares Owned	Ownership Type
Common Stock	324.14	Direct
Total	324.14	324.14 direct

Derivative Holdings (Post-Transaction)0

No derivative holdings reported