CALDERONI FRANK 4

What Happened

• Frank Calderoni, a Director of Adobe Inc., carried out derivative transactions on April 15, 2026. The Form 4 reports an exercise/conversion of 900 derivative shares (code M) and a simultaneous disposition of 900 shares (both at $0.00). In addition, he was credited with 1,367 restricted stock units (RSUs) that were acquired/vested that same day (reported at $0.00). The filing was submitted April 17, 2026, which is within the normal 2-business-day window.

Key Details

• Transaction date: April 15, 2026; Form 4 filed April 17, 2026 (timely).
• Exercises/derivative activity: 900 shares listed as acquired (M) at $0.00 and 900 shares listed as disposed at $0.00.
• Award/vesting: 1,367 RSUs acquired/vested at $0.00 (footnote F3: vested in full on April 15, 2026).
• Shares owned after transaction: not specified in the provided summary of the filing.
• Relevant footnotes:
  • F1: Includes prior transfer of 29,061 shares to the Frank A Calderoni and Brenda J Zawatski Living Trust on May 16, 2025.
  • F2: Some shares are held by the trustee-controlled trust (the reporting person is a trustee).
  • F3: Confirms the RSU award vested in full on April 15, 2026.
  • F4: Notes a grant component that vests 100% on the issuer’s next annual meeting date.
• No 10b5-1 plan, tax-withholding sale detail, or late-filing flag is indicated in the provided data.

Context

• The $0.00 price entries are typical for option exercises or conversions and RSU vesting (they reflect how the award is recorded, not an open-market purchase price). The paired acquisition and disposition of 900 shares suggests the exercised shares were simultaneously transferred or settled rather than retained as an open-market buy.
• RSU vesting is compensation-related and does not necessarily signal a director’s market view. As always, purchases (open-market buys) tend to be a clearer bullish signal than routine exercises or vesting.