Were the Adobe (ADBE) CEO’s share sales made directly or through a trust?

The sales were made through a trust . The Form 4 identifies the selling holder as The Narayen Family Trust , with the nature of ownership listed as “by trust,” and notes that Shantanu Narayen serves as a trustee of this family trust.

What reason does the Form 4 give for the Adobe (ADBE) share sales?

A footnote explains that the sale was made primarily for the reporting person’s tax and estate planning purposes . This language indicates that the transactions were motivated by personal financial and estate considerations rather than by changes in Adobe’s corporate operations.

Adobe (NASDAQ: ADBE) CEO sells 75,000 shares through family trust transactions

Q: At what prices were the Adobe (ADBE) shares sold in this Form 4?

The reported weighted average prices for the sales were $243.19 , $243.89 and $244.78 per share. Footnotes explain that each transaction was executed in multiple trades within narrower ranges between roughly $242.55 and $245.25 per share.

Q: What type of transactions are reported in this Adobe (ADBE) Form 4?

The filing shows open-market sales of Adobe common stock, coded as “S” transactions. These are non-derivative dispositions executed in the market, with a transaction summary indicating three sale entries totaling 75,000 shares and one additional holding entry with direct ownership.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

ADOBE INC. Chair and CEO Shantanu Narayen reported recent insider activity involving shares of the company’s common stock. On April 28, 2026, entities associated with him sold a total of 75,000 shares held indirectly.

The shares were sold by The Narayen Family Trust, where he serves as a trustee, in open-market transactions. The reported weighted average prices were $243.19, $243.89 and $244.78 per share, across multiple trades within narrower price ranges.

A footnote states that the sale was made primarily for tax and estate planning purposes. After these transactions, the trust continues to hold 383,116 shares of Adobe common stock indirectly, and Narayen also holds 324.143 shares directly.

Insider Trade Summary

Net Seller: 75,000 shares ($18,265,234)

Net Sell 4 txns

Insider NARAYEN SHANTANU

Role Chair and CEO

Sold 75,000 shs ($18.27M)

Type	Security	Shares	Price	Value
Sale	Common Stock	51,422	$243.1937	$12.51M
Sale	Common Stock	13,237	$243.8936	$3.23M
Sale	Common Stock	10,341	$244.7837	$2.53M
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 383,116 shares (Indirect, by trust); Common Stock — 324.143 shares (Direct, null)

Footnotes (1)

The sale was primarily made for the reporting person's tax and estate planning purposes. This transaction was executed in multiple trades at prices ranging from $242.545 to $243.54. The price reported above reflects the weighted average execution 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. Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee. This transaction was executed in multiple trades at prices ranging from $243.545 to $244.535. The price reported above reflects the weighted average execution 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. This transaction was executed in multiple trades at prices ranging from $244.55 to $245.25. The price reported above reflects the weighted average execution 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.

Key Figures

Shares sold: 75,000 shares Sale prices (weighted): $243.19, $243.89, $244.78 per share Indirect holdings after sale: 383,116 shares +1 more

4 metrics

Shares sold 75,000 shares Open-market sales of common stock on April 28, 2026

Sale prices (weighted) $243.19, $243.89, $244.78 per share Weighted average prices for three sale tranches

Indirect holdings after sale 383,116 shares Shares held by The Narayen Family Trust after transactions

Direct holdings after entry 324.143 shares Directly held Adobe common stock after holding line

Key Terms

open-market sale, indirect ownership, weighted average execution price, family trust

4 terms

open-market sale financial

"transaction_action: open-market sale of common stock by trust"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"ownership_type: indirect, nature_of_ownership: by trust"

weighted average execution price financial

"The price reported above reflects the weighted average execution price"

family trust financial

"Shares held by The Narayen Family Trust, dtd 11/30/00"

Form 4 Insider Transactions: What Each Field Means →

04/30/2026 - 05:09 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

NARAYEN SHANTANU

(Last)

(First)

(Middle)

ADOBE INC.

345 PARK AVENUE

(Street)

SAN JOSE

CALIFORNIA

95110

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ADOBE INC. [ ADBE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chair and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/28/2026		S⁽¹⁾		51,422	D	$243.1937⁽²⁾	383,116	I	by trust⁽³⁾
Common Stock	04/28/2026		S⁽¹⁾		13,237	D	$243.8936⁽⁴⁾	369,879	I	by trust⁽³⁾
Common Stock	04/28/2026		S⁽¹⁾		10,341	D	$244.7837⁽⁵⁾	359,538	I	by trust⁽³⁾
Common Stock								324.143	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The sale was primarily made for the reporting person's tax and estate planning purposes.

2. This transaction was executed in multiple trades at prices ranging from $242.545 to $243.54. The price reported above reflects the weighted average execution 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.

3. Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee.

4. This transaction was executed in multiple trades at prices ranging from $243.545 to $244.535. The price reported above reflects the weighted average execution 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.

5. This transaction was executed in multiple trades at prices ranging from $244.55 to $245.25. The price reported above reflects the weighted average execution 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.

Remarks:

	/s/ Jillian Forusz, as attorney-in-fact	04/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

How many Adobe (ADBE) shares were sold in Shantanu Narayen’s latest Form 4?

The filing reports that entities associated with Shantanu Narayen sold 75,000 shares of Adobe common stock. These shares were held indirectly through The Narayen Family Trust and were disposed of in several open-market transactions on April 28, 2026.

At what prices were the Adobe (ADBE) shares sold in this Form 4?

The reported weighted average prices for the sales were $243.19, $243.89 and $244.78 per share. Footnotes explain that each transaction was executed in multiple trades within narrower ranges between roughly $242.55 and $245.25 per share.

How many Adobe (ADBE) shares does Shantanu Narayen still hold after this sale?

Following the reported transactions, The Narayen Family Trust holds 383,116 shares of Adobe common stock indirectly. In addition, a separate entry shows Shantanu Narayen directly holding 324.143 shares of Adobe common stock after the holding line dated April 28, 2026.

What type of transactions are reported in this Adobe (ADBE) Form 4?

The filing shows open-market sales of Adobe common stock, coded as “S” transactions. These are non-derivative dispositions executed in the market, with a transaction summary indicating three sale entries totaling 75,000 shares and one additional holding entry with direct ownership.