STOCK TITAN
  1. Home
  2. Sec-filings
  3. ADBE
  4. [Form 4] ADOBE INC. Insider Trading Activity

Adobe CEO Narayen sells 125,000 shares of stock

Adobe’s chair and CEO reported trust-related open-market share sales totaling 125,000 shares over two days, primarily for tax and estate planning purposes.

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

ADOBE INC. (ADBE) reported that Chair and CEO Shantanu Narayen, through The Narayen Family Trust, sold a total of 125,000 shares of common stock on September 16–17, 2026 in a series of open-market or private transactions at reported weighted average prices around $246–$252 per share.

According to a footnote, the sales were made primarily for the reporting person's tax and estate planning purposes, and the trust holds the shares. A separate entry shows 399.15 shares held directly after these transactions. No Rule 10b5-1 trading plan is reported.

Positive

  • None.

Negative

  • None.

Insights

Analyzing...

Insider NARAYEN SHANTANU
Role Chair and CEO
Sold 125,000 shs ($31.34M)
Type Security Shares Price Value
Sale Common Stock F1, F8, F3 1,378 $246.0861 $339K
Sale Common Stock F1, F9, F3 3,430 $247.3596 $848K
Sale Common Stock F1, F10, F3 7,168 $248.1427 $1.78M
Sale Common Stock F1, F11, F3 10,313 $249.1717 $2.57M
Sale Common Stock F1, F12, F3 17,595 $250.1868 $4.40M
Sale Common Stock F1, F13, F3 9,978 $251.0237 $2.50M
Sale Common Stock F1, F14, F3 638 $251.7602 $161K
Sale Common Stock F1, F2, F3 8,358 $250.2245 $2.09M
Sale Common Stock F1, F4, F3 33,001 $251.0333 $8.28M
Sale Common Stock F1, F5, F3 20,716 $252.0287 $5.22M
Sale Common Stock F1, F6, F3 11,495 $253.0598 $2.91M
Sale Common Stock F1, F7, F3 930 $253.6366 $236K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 238,724 shares (Indirect, by trust); Common Stock — 399.15 shares (Direct)
Footnotes (14)
  1. F1. The sale was primarily made for the reporting person's tax and estate planning purposes.
  2. F2. This transaction was executed in multiple trades at prices ranging from $249.53 to $250.52. 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. F3. Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee.
  4. F4. This transaction was executed in multiple trades at prices ranging from $250.53 to $251.525. 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. F5. This transaction was executed in multiple trades at prices ranging from $251.53 to $252.52. 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.
  6. F6. This transaction was executed in multiple trades at prices ranging from $252.555 to $253.53. 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.
  7. F7. This transaction was executed in multiple trades at prices ranging from $253.57 to $253.74. 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.
  8. F8. This transaction was executed in multiple trades at prices ranging from $245.595 to $246.2986. 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.
  9. F9. This transaction was executed in multiple trades at prices ranging from $246.645 to $247.6443. 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.
  10. F10. This transaction was executed in multiple trades at prices ranging from $247.645 to $248.64. 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.
  11. F11. This transaction was executed in multiple trades at prices ranging from $248.65 to $249.64. 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.
  12. F12. This transaction was executed in multiple trades at prices ranging from $249.672 to $250.67. 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.
  13. F13. This transaction was executed in multiple trades at prices ranging from $250.68 to $251.59. 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.
  14. F14. This transaction was executed in multiple trades at prices ranging from $251.72 to $251.81. 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.
Total shares sold 125,000 shares Aggregate common stock sales reported for September 16–17, 2026
Number of sale transactions 12 transactions Non-derivative sale entries over the two trading days
Example weighted average sale price $251.0333 per share 33,001-share sale on September 16, 2026
Trade price range example $250.53–$251.525 per share Range for the 33,001-share sale noted in footnote F4
Direct holdings after transaction 399.15 shares Direct Adobe common stock position reported as of September 16, 2026
weighted average execution price financial
"The price reported above reflects the weighted average execution price."
The weighted average execution price is the single price that represents the average cost or proceeds of a trade made in multiple parts, calculated by weighting each executed fill price by the number of shares or units in that fill. It matters to investors because it shows the true overall price paid or received for an entire order when fills occur at different prices—like averaging grocery costs when you buy different quantities at different prices—so performance and fees are measured against the actual trade price.
indirect financial
"Ownership type for many sales is reported as indirect by trust."
trust financial
"Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee."
A trust is a legal setup in which one party (the trustee) holds and manages assets—like cash, stocks or property—on behalf of other people (beneficiaries) according to instructions from the person who created it (the grantor). Think of it as a locked box with a keyholder who must follow written rules; for investors it matters because trusts influence who controls and benefits from assets, affect taxes and succession, and can change how quickly or transparently shares are bought, sold or voted.
tax and estate planning purposes financial
"The sale was primarily made for the reporting person's tax and estate planning purposes."

FAQ

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

What insider transaction did ADBE disclose for Shantanu Narayen?
Adobe disclosed that Chair and CEO Shantanu Narayen, through The Narayen Family Trust, sold 125,000 shares of Adobe common stock on September 16–17, 2026 in a series of open-market or private transactions at reported weighted average prices around the mid-$240s to low-$250s per share.

Over what dates did the ADBE insider share sales occur?
The reported insider sales occurred on September 16, 2026 and September 17, 2026, across 12 separate sale transactions in Adobe common stock executed at various weighted average prices disclosed in the filing’s transaction and footnote details.

How many ADBE shares did Shantanu Narayen sell in total?
The filing’s transaction summary states that entities associated with Shantanu Narayen sold a total of 125,000 shares of Adobe common stock, all reported as sale transactions of non-derivative securities, with no corresponding purchases or option exercises in this Form 4.

At what prices were the reported ADBE insider sales executed?
Each transaction reports a weighted average price per share, for example $251.0333 for a 33,001-share sale on September 16, 2026, with footnotes stating that individual trades occurred within ranges such as $250.53 to $251.525 per share for that transaction.

Were the ADBE insider sales made under a Rule 10b5-1 trading plan?
The filing indicates that the Rule 10b5-1 checkbox is not checked and the footnotes do not reference any Rule 10b5-1 plan, so no Rule 10b5-1 trading plan is reported in connection with these sales.

What reason was given for the ADBE insider sales by the trust?
A footnote explains that the sale was primarily made for the reporting person’s tax and estate planning purposes. The filing also notes that the sold shares were held by The Narayen Family Trust, of which the reporting person is a trustee.

How many ADBE shares does Shantanu Narayen hold directly after these transactions?
A holding entry dated September 16, 2026 reports that Shantanu Narayen directly holds 399.15 shares of Adobe common stock following the reported transactions, in addition to the indirect holdings through The Narayen Family Trust described elsewhere in the filing.

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

Form 4 Insider Transactions: What Each Field Means →
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chair and CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/16/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock09/16/2026S(1)8,358D$250.2245(2)355,366Iby trust(3)
Common Stock09/16/2026S(1)33,001D$251.0333(4)322,365Iby trust(3)
Common Stock09/16/2026S(1)20,716D$252.0287(5)301,649Iby trust(3)
Common Stock09/16/2026S(1)11,495D$253.0598(6)290,154Iby trust(3)
Common Stock09/16/2026S(1)930D$253.6366(7)289,224Iby trust(3)
Common Stock09/17/2026S(1)1,378D$246.0861(8)287,846Iby trust(3)
Common Stock09/17/2026S(1)3,430D$247.3596(9)284,416Iby trust(3)
Common Stock09/17/2026S(1)7,168D$248.1427(10)277,248Iby trust(3)
Common Stock09/17/2026S(1)10,313D$249.1717(11)266,935Iby trust(3)
Common Stock09/17/2026S(1)17,595D$250.1868(12)249,340Iby trust(3)
Common Stock09/17/2026S(1)9,978D$251.0237(13)239,362Iby trust(3)
Common Stock09/17/2026S(1)638D$251.7602(14)238,724Iby trust(3)
Common Stock399.15D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
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 $249.53 to $250.52. 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 $250.53 to $251.525. 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 $251.53 to $252.52. 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.
6. This transaction was executed in multiple trades at prices ranging from $252.555 to $253.53. 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.
7. This transaction was executed in multiple trades at prices ranging from $253.57 to $253.74. 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.
8. This transaction was executed in multiple trades at prices ranging from $245.595 to $246.2986. 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.
9. This transaction was executed in multiple trades at prices ranging from $246.645 to $247.6443. 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.
10. This transaction was executed in multiple trades at prices ranging from $247.645 to $248.64. 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.
11. This transaction was executed in multiple trades at prices ranging from $248.65 to $249.64. 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.
12. This transaction was executed in multiple trades at prices ranging from $249.672 to $250.67. 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.
13. This transaction was executed in multiple trades at prices ranging from $250.68 to $251.59. 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.
14. This transaction was executed in multiple trades at prices ranging from $251.72 to $251.81. 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-fact09/18/2026
** Signature of Reporting PersonDate
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

Keep reading

More on ADBE

Trending in the feed

Open the live feed

From our desk