Forusz Jillian 4

What Happened

• Jillian Forusz, Senior Vice President & Chief Accounting Officer of Adobe (ADBE), converted/ exercised derivative awards and received a larger award that vested. On 2026-01-24 she converted 559 derivative shares (31 + 528) at $0.00, and 217 of the resulting shares were surrendered to cover tax withholding (12 + 205 surrendered at $301.07 per share for a total tax withholding of $65,332). On 2026-01-26 she was credited with 9,211 shares as an award/grant (vested performance/share award) at $0.00. Net increase in shares held from these transactions was 9,553 shares after the tax withholding.

Key Details

• Transaction dates and prices:
  • 2026-01-24: Conversion/exercise of derivatives (code M) — 31 and 528 shares acquired at $0.00.
  • 2026-01-24: Shares surrendered to pay taxes (code F) — 12 and 205 shares disposed at $301.07 each; total tax withholding = $3,613 + $61,719 = $65,332.
  • 2026-01-26: Award/grant (code A) — 9,211 shares acquired at $0.00.
• Net shares: Acquired 9,770 shares total (559 conversions + 9,211 award) and surrendered 217 shares for taxes → net +9,553 shares.
• Footnotes / vesting notes:
  • F1: Shares surrendered to pay tax liability due at vesting.
  • F2/F4: Refer to scheduled vesting patterns for other awards (quarterly vesting schedules).
  • F3: The 9,211 shares represent performance share awards that vested in full on the three‑year anniversary of the Jan 24, 2023 vesting commencement date.
• Filing timeliness: No late filing flag provided in the supplied data.

Context

• These transactions appear to be conversions/vestings of restricted/ performance share awards rather than open-market purchases or sales. The surrender of 217 shares was to cover tax withholding (a routine administrative step), not an open-market sale. Such withholding is common when awards vest and does not by itself indicate a change in insider sentiment.