Wadhwani David 4

4 · ADOBE INC. · Filed Apr 17, 2026

AI-generated summary of this filing

Updated Apr 17, 2026

Adobe (ADBE) President David Wadhwani Exercises Options and Sells Shares

What Happened

David Wadhwani, President, Customer & Platform (C&P) at Adobe, had derivative awards convert into 3,022 shares on 2026-04-15 (four vest/ conversion events of 760, 437, 695 and 1,130 shares). The reported exercise/conversion shows an exercise price of $0.00 (i.e., no cash paid).
To cover tax withholding on the vesting, 1,496 shares were surrendered (376, 216, 344, and 560 shares) at $244.66 per share, generating proceeds/withholding value of $91,992; $52,847; $84,163; and $137,010, respectively — totaling $366,012.

Key Details

Transaction date: April 15, 2026; Form 4 filed April 17, 2026 (timely filing).
Exercise/conversion: 3,022 derivative shares acquired at $0.00 exercise price.
Shares surrendered for tax withholding (code F): 1,496 shares at $244.66 each; total withholding ≈ $366,012.
Footnote F1: Shares were surrendered to pay tax liability due at vesting (i.e., automatic withholding).
Footnote F2: All shares are held by the 2006 Wadhwani Family Trust (reporting person is trustee), except 92 shares held by Wadhwani 2020 Family GST Trusts for his children.
Vesting schedules referenced: F3–F6 indicate these awards vest quarterly at 6.25% from various commencement dates (Jan 15 of 2023–2026), reflecting scheduled vesting tranches.
Shares owned after transaction: not reported as a numeric total on the Form 4; holdings are shown as held in the family trusts per F2.

Context

This was a standard vesting/conversion event (derivative exercise/conversion) with a portion of shares surrendered to cover taxes — effectively a cashless withholding; such withholdings are routine and do not necessarily indicate a discretionary sale by the insider.
No 10b5-1 plan or gift noted; the activity appears related to scheduled vesting and tax obligations rather than an open-market sale.

Form 4

Period: 2026-04-15

President, C&P

Transactions

Exercise/Conversion
Common Stock
2026-04-15+760→ 40,494.091 total
Tax Payment
Common Stock
[F1]
2026-04-15$244.66/sh−376$91,992→ 40,118.091 total
Exercise/Conversion
Common Stock
2026-04-15+437→ 40,555.091 total
Tax Payment
Common Stock
[F1]
2026-04-15$244.66/sh−216$52,847→ 40,339.091 total
Exercise/Conversion
Common Stock
2026-04-15+695→ 41,034.091 total
Tax Payment
Common Stock
[F1]
2026-04-15$244.66/sh−344$84,163→ 40,690.091 total
Exercise/Conversion
Common Stock
2026-04-15+1,130→ 41,820.091 total
Tax Payment
Common Stock
[F1]
2026-04-15$244.66/sh−560$137,010→ 41,260.091 total
Exercise/Conversion
Restricted Stock Units
[F3]
2026-04-15−760→ 2,282 total
Exercise: $0.00→ Common Stock (760 underlying)
Exercise/Conversion
Restricted Stock Units
[F4]
2026-04-15−437→ 3,060 total
Exercise: $0.00→ Common Stock (437 underlying)
Exercise/Conversion
Restricted Stock Units
[F5]
2026-04-15−695→ 7,651 total
Exercise: $0.00→ Common Stock (695 underlying)
Exercise/Conversion
Restricted Stock Units
[F6]
2026-04-15−1,130→ 16,956 total
Exercise: $0.00→ Common Stock (1,130 underlying)

Holdings

Footnotes (6)

[F1]Shares surrendered to pay tax liability due at vesting.
[F2]All shares held by the 2006 Wadhwani Family Trust dtd 04/26/2006, of which the reporting person is a trustee, with the exception of 92 shares held by the Wadhwani 2020 Family GST Trusts dtd 12/06/2020 for the benefit of Mr. Wadhwani's children, of which the reporting person is the trustee.
[F3]Vests 6.25% quarterly from the vesting commencement date of January 15, 2023.
[F4]Vests 6.25% quarterly from the vesting commencement date of January 15, 2024.
[F5]Vests 6.25% quarterly from the vesting commencement date of January 15, 2025.
[F6]Vests 6.25% quarterly from the vesting commencement date of January 15, 2026.

Signature

/s/ Jillian Forusz, as attorney-in-fact|2026-04-17

1 file