[Form 4] Adobe Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 07/24/2025 Adobe Inc. (ADBE) EVP & Chief People Officer Gloria Chen filed a Form 4 reporting routine RSU vesting. She converted 424 restricted stock units into common shares (Code M) at a $0 exercise price. To satisfy tax withholding she simultaneously disposed of 210 shares at $371.69 (Code F). The net 214-share increase lifts her direct ownership to 39,072.112 shares, while she also holds 667 shares indirectly via a family trust and retains 849 unvested RSUs. The underlying RSU grant vests 25 % on the first anniversary of 24 Jan 2022 and 6.25 % quarterly thereafter. All transactions were administrative; no open-market buying or selling is indicated. The filing contains no operational or financial guidance and is unlikely to affect Adobe’s fundamentals.

Insights

Financial Analyst

TL;DR Neutral: Routine RSU vesting; immaterial share change; no signal on Adobe fundamentals.

The report shows a standard equity award conversion followed by tax-related share withholding. Chen’s net addition of 214 shares is less than 1 % of her existing stake and negligible versus Adobe’s 450 million-share float. Such insider activity is common at quarter-end and does not imply bullish or bearish sentiment. With 849 RSUs still unvested, future filings of similar size are expected. Overall, the event is non-impactful for valuation or liquidity.

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

1. Name and Address of Reporting Person^*

Chen Gloria

(Last) (First) (Middle)

ADOBE INC.

345 PARK AVENUE

(Street)

SAN JOSE CA 95110

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief People Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/24/2025		M		424	A	$0	39,282.112	D
Common Stock	07/24/2025		F		210(1)	D	$371.69	39,072.112	D
Common Stock								667	I	by trust(2)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0	07/24/2025		M			424	(3)	(3)	Common Stock	424	$0	849	D

Explanation of Responses:

1. Shares surrendered to pay tax liability due at vesting.

2. Shares held by The John Kibarian and Gloria Chen Trust, dated 4/8/2004 of which the reporting person is a trustee.

3. Vests 25% on the first anniversary of the January 24, 2022 vesting commencement date and then 6.25% quarterly thereafter.

Remarks:

	/s/ Jillian Forusz, as attorney-in-fact	07/28/2025
	** 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.

FAQ

How many Adobe (ADBE) shares did EVP Gloria Chen acquire on 07/24/2025?

She acquired 424 shares through RSU conversion, then netted 214 shares after tax withholding.

At what price were shares disposed of in the Form 4 filing?

Shares were withheld for taxes at $371.69 per share.

What is Gloria Chen’s current direct share ownership in Adobe?

Following the transaction she directly owns 39,072.112 shares.

Does the filing include any open-market purchase or sale?

No. The disposition was a tax-withholding event; no open-market trades were reported.

How many unvested RSUs does the executive still hold?

Chen retains 849 restricted stock units that will vest per the original schedule.