Pentland Adele Louise 4

What Happened

• Adele Pentland, Chief Legal Officer & EVP of Adobe, exercised/converted a derivative to acquire 1,308 shares on April 15, 2026. To cover tax withholding, 444 of those shares were surrendered/withheld at an indicated value of $244.66 per share, totaling $108,629. The filing shows the derivative instrument was converted into stock as part of the transaction (transaction codes M = exercise/conversion, F = tax withholding).

Key Details

• Transaction date: April 15, 2026; Form 4 filed April 17, 2026 (appears timely).
• Exercise/Conversion: 1,308 shares acquired @ $0.00 (code M).
• Tax withholding: 444 shares disposed/withheld @ $244.66 per share = $108,629 (code F).
• Shares owned after the transaction: not provided in the excerpt of the filing.
• Relevant footnotes:
  • F1: Includes 63.759 shares acquired on December 31, 2025 under Adobe’s 2020 Employee Stock Purchase Plan.
  • F2: Certain awards vest 6.25% quarterly starting January 15, 2026.
• No indication in the provided data that this was part of a 10b5-1 plan or a gift.

Context

• This appears to be an option/derivative conversion with a partial cashless element: a portion of the shares (444) were surrendered to cover tax liabilities rather than sold on the open market. Such withholding for taxes is common and does not necessarily signal a buy/sell sentiment by the insider.