Adobe CEO trust plans $31.4M stock sale

Rhea-AI Filing Summary

ADOBE INC. (ADBE) is the issuer of common stock for which the Narayen Family Trust, associated with CEO Shantanu Narayen, has filed a Rule 144 notice to sell 125,000 shares through UBS Financial Services Inc. at an aggregate market value of $31,437,500 as of September 16, 2026.

The shares derive from multiple RSU and ESPP issuances by Adobe over several years, and the notice is signed by UBS Financial Services Inc. as attorney-in-fact for the Narayen Family Trust.

Key Figures

Shares to be sold: 125,000 shares Aggregate market value: $31,437,500 Reported trading volume reference: 399,000,000 shares +2 more

5 metrics

Shares to be sold 125,000 shares Number of Adobe common shares covered by the Rule 144 notice

Aggregate market value $31,437,500 Total market value of the 125,000 shares as of September 16, 2026

Reported trading volume reference 399,000,000 shares Volume-related figure used for Rule 144 calculations in the securities information

Largest single RSU block listed 35,070 shares Common stock from a January 24, 2026 RSU issuance by Adobe

Form 144 notice date September 16, 2026 Date the Narayen Family Trust’s notice of proposed sale was signed

Key Terms

Rule 144, RSU, ESPP, attorney-in-fact, +1 more

5 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

RSU financial

"Common | 01/24/2020 | RSU | Issuer | | | 9351"

Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.

ESPP financial

"Common | 06/30/2020 | ESPP | Issuer | | | 74"

An Employee Stock Purchase Plan (ESPP) is a company program that lets employees buy the company’s shares at a reduced price, usually by setting aside a small portion of their pay over time. It matters to investors because it encourages employees to own part of the business—like giving staff a discounted membership— which can boost commitment and performance, while also potentially increasing the number of shares available and affecting shareholder value.

attorney-in-fact regulatory

"for UBS Financial Services Inc, as attorney-in-fact for Narayen Family Trust"

An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.

NASDAQ market

"| 399000000 | 09/16/2026 | NASDAQ"

The Nasdaq is a stock exchange where many companies' shares are bought and sold, functioning much like a marketplace for investments. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping them track the value of those companies and make informed decisions. As one of the largest and most technology-focused markets, it also reflects trends and developments in the business world.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Narayen Family Trust’s Form 144 filing mean for ADBE?

The Narayen Family Trust filed a Rule 144 notice to sell 125,000 shares of Adobe Inc. common stock. This filing gives notice of a planned resale of restricted or control securities into the public market through UBS Financial Services Inc.

How many Adobe (ADBE) shares may the Narayen Family Trust sell and what is their value?

The notice covers up to 125,000 shares of Adobe common stock with an aggregate market value of $31,437,500 as of September 16, 2026, based on the pricing information used in the Form 144 disclosure.

Who is behind the Narayen Family Trust selling Adobe (ADBE) shares?

The seller is the Narayen Family Trust. Shantanu Narayen, who is identified as the CEO of Adobe Inc., is also the trustee of the Narayen Family Trust, according to the remarks section of the notice.

What types of equity awards are listed as the source of the Adobe (ADBE) shares?

The shares listed to be sold come from multiple RSU (restricted stock unit) awards and ESPP (Employee Stock Purchase Plan) purchases granted or issued by Adobe on various dates from 2014 through 2026.

Which broker is handling the Narayen Family Trust’s planned sale of Adobe (ADBE) shares?

The planned sale of Adobe common stock is to be handled through UBS Financial Services Inc., located in Weehawken, New Jersey, as identified in the securities information section.

On which market are the Adobe (ADBE) shares in this Form 144 listed?

The common stock covered by the notice is listed on the NASDAQ market, as indicated in the securities information section of the filing.

What trading volume figure is disclosed in the Adobe (ADBE) Form 144 notice?

The notice reports 399,000,000 shares in the volume-related field associated with the securities information, used in applying Rule 144 volume limitations for sales of control securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 03:49 PM Accepted by SEC EDGAR 09/16/2026 - 03:48 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001224154
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Adobe Inc.
SEC File Number	000-15175
Address of Issuer	345 Park Ave San Jose CALIFORNIA 95110
Phone	408-536-6000
Name of Person for Whose Account the Securities are To Be Sold	Narayen Family Trust
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	UBS Financial Services Inc 1000 Harbor Blvd 3rd Floor Weehawken NJ 07086	125000	31437500	399000000	09/16/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/24/2020	RSU	Issuer			9351	01/24/2020	N/A
Common	04/15/2025	RSU	Issuer			2744	04/15/2025	N/A
Common	10/15/2025	RSU	Issuer			2746	10/15/2025	N/A
Common	10/24/2022	RSU	Issuer			2845	10/24/2022	N/A
Common	01/15/2026	RSU	Issuer			2728	01/15/2026	N/A
Common	01/24/2026	RSU	Issuer			35070	01/24/2026	N/A
Common	06/30/2020	ESPP	Issuer			74	06/30/2020	Cash
Common	04/15/2026	RSU	Issuer			4186	04/15/2026	N/A
Common	07/15/2026	RSU	Issuer			4186	07/15/2026	N/A
Common	06/29/2018	ESPP	Issuer			140	06/29/2018	Cash
Common	06/28/2019	ESPP	Issuer			140	06/28/2019	Cash
Common	01/24/2016	RSU	Issuer			22369	01/24/2016	N/A
Common	06/30/2016	ESPP	Issuer			271	06/30/2016	Cash
Common	06/30/2017	ESPP	Issuer			271	06/30/2017	Cash
Common	01/24/2015	RSU	Issuer			17023	01/24/2015	N/A
Common	01/24/2014	RSU	Issuer			15707	01/24/2014	N/A
Common	01/27/2014	RSU	Issuer			5149	01/27/2014	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks	Narayen Family Trust is the seller. Shantanu Narayen is the CEO of Adobe Inc. and also the trustee of the Narayen Family Trust.
Date of Notice	09/16/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/Mijo Suric, for UBS Financial Services Inc, as attorney-in-fact for Narayen Family Trust
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)