Chen Gloria 4

4 · ADOBE INC. · Filed Jan 27, 2026

AI-generated summary of this filing

Updated Jan 28, 2026

Adobe (ADBE) EVP Gloria Chen Exercises Options, Surrenders Shares for Taxes

What Happened

Gloria Chen, Executive Vice President and Chief People Officer at Adobe (ADBE), exercised/converted derivatives that resulted in 10,663 shares being issued on 2026-01-24 and surrendered 5,079 of those shares to satisfy tax withholding obligations (tax withholding realized at $301.07 per share, totaling $1,529,134). On 2026-01-26 she was also granted/awarded 20,933 derivative shares (no cash paid).

Key Details

Transaction dates and prices:
- 2026-01-24: Conversion/exercise entries for 425 and 10,238 shares at $0.00 (company treated as derivative-to-stock conversions); tax-withholding dispositions of 146 and 4,933 shares at $301.07 per share (total $43,956 and $1,485,178 respectively; combined ~$1.53M).
- 2026-01-26: Grant/award of 20,933 shares (derivative), $0.00 reported price.
Shares acquired (net): 10,663 shares were issued on 1/24; 5,079 of those were surrendered for taxes, and an additional 20,933-share award was granted on 1/26.
Shares owned after transaction: Not specified in the Form 4 filing.
Footnotes of note:
- F1: Shares were surrendered specifically to pay tax liability due at vesting.
- F4: The 10,238 shares represent PSUs earned under the 2023 Performance Share Program that vested in full on the three‑year anniversary of the 1/24/2023 vesting commencement date.
- F3/F5: Other vesting schedules referenced (quarterly vesting percentages and commencement dates); F2 notes certain shares are held in a trust of which she is trustee.
Filing timeliness: The form was filed 2026-01-27 reporting transactions on 2026-01-24; no late-filing notation is indicated in the provided record.

Context

These entries are primarily the conversion/vesting of derivative awards (performance shares/RSUs) and subsequent share withholding to satisfy taxes — a routine administrative transaction rather than an open-market sale. The conversion/vesting had a $0.00 exercise/issue price reported (typical for RSU/PSU settlement), and the withheld shares were recorded at the market price ($301.07) to cover tax obligations. The 20,933-share grant carries a future vesting schedule (see F5).

Form 4

Period: 2026-01-24

EVP, Chief People Officer

Transactions

Exercise/Conversion
Common Stock
2026-01-24+425→ 41,925.112 total
Tax Payment
Common Stock
[F1]
2026-01-24$301.07/sh−146$43,956→ 41,779.112 total
Exercise/Conversion
Common Stock
2026-01-24+10,238→ 52,017.112 total
Tax Payment
Common Stock
[F1]
2026-01-24$301.07/sh−4,933$1,485,178→ 47,084.112 total
Exercise/Conversion
Restricted Stock Units
[F3]
2026-01-24−425→ 0 total
Exercise: $0.00→ Common Stock (425 underlying)
Exercise/Conversion
Performance Shares
[F4]
2026-01-24−10,238→ 0 total
Exercise: $0.00→ Common Stock (10,238 underlying)
Award
Restricted Stock Units
[F5]
2026-01-26+20,933→ 20,933 total
Exercise: $0.00→ Common Stock (20,933 underlying)

Holdings

Footnotes (5)

[F1]Shares surrendered to pay tax liability due at vesting.
[F2]Shares held by The John Kibarian and Gloria Chen Trust, dated 4/8/2004 of which the reporting person is a trustee.
[F3]Vests 25% on the first anniversary of the January 24, 2022 vesting commencement date and then 6.25% quarterly thereafter.
[F4]Represents shares earned under the 2023 Performance Share Program that vested in full on the three-year anniversary of the January 24, 2023 vesting commencement date.
[F5]Vests 6.25% quarterly from the vesting commencement date of January 15, 2026.

Signature

/s/ Jillian Forusz, as attorney-in-fact|2026-01-27

1 file