Durn Daniel 4

What Happened Daniel Durn, Executive Vice President & Chief Financial Officer of Adobe Inc., had multiple derivative awards vest/convert on April 15, 2026. A total of 4,558 shares were converted (exercised/converted from derivatives/awards) and 2,384 of those shares were surrendered to the company to cover tax withholding, generating proceeds/value reported of $583,269 for the surrendered shares. The conversions show a $0.00 exercise price, consistent with vested RSUs or similar awards rather than a cash purchase.

Key Details

• Transaction date: April 15, 2026; Form 4 filed April 17, 2026 (timely filing within the usual 2-business-day window).
• Conversions/exercises (code M): 1,132 + 650 + 1,050 + 1,726 = 4,558 shares converted at $0.00 exercise price.
• Tax-withholding/share surrender (code F): 592 + 340 + 549 + 903 = 2,384 shares surrendered, reported value $144,839 + $83,184 + $134,318 + $220,928 = $583,269.
• Net shares retained by insider after withholding: 4,558 − 2,384 = 2,174 shares (based on the reported transactions).
• Shares owned after transaction: Not stated in the provided filing.
• Footnotes: F1 confirms shares were surrendered to pay tax liability. F2–F5 indicate the underlying awards vest 6.25% quarterly from vesting commencement dates of Jan 15, 2023; Jan 15, 2024; Jan 15, 2025; and Jan 15, 2026.
• Transaction codes explained: M = exercise/conversion of derivative (award), F = payment of exercise price or tax liability (shares withheld).

Context This appears to be routine vesting/conversion of equity awards with a net settlement (shares surrendered to cover tax withholding), not an open-market sale. Such withholding is common and does not by itself indicate a change in insider sentiment. The $0.00 exercise price suggests these were vested RSUs or similar awards rather than option purchases.