Neumann Spencer Adam 4

What Happened
Spencer Neumann, a director of Adobe Inc., reported derivative activity and a vested restricted stock unit (RSU) award on April 15, 2026. The filing shows a conversion/exercise of derivatives for 900 shares (reported as acquired at $0.00) and a simultaneous disposition of 900 derivative shares (reported at $0.00). In addition, 1,367 RSUs vested and were reported as acquired at $0.00. These transactions were awards/vestings and conversions rather than open-market purchases or cash sales.

Key Details

• Transaction date: April 15, 2026; Form 4 filed April 17, 2026 (within the usual 2‑business‑day reporting window).
• Derivative exercise/conversion (code M): 900 shares acquired at $0.00; 900 shares disposed at $0.00 (both reported as derivative activity).
• Award/grant (code A): 1,367 shares acquired at $0.00 — footnote F2 states this RSU award vested in full on April 15, 2026.
• Footnote F1: Some shares are held by the Neumann Trust dated 02/01/2008, of which the reporting person is a trustee.
• Footnote F3: Notes a vesting schedule (“Vests 100% on the day of the Issuer’s next annual meeting of stockholders”) for a listed award.
• The filing does not state total common shares owned by the reporting person after these transactions.

Context

• Derivative-code (M) entries indicate conversion/exercise of derivative interests; because the shares acquired and disposed were both reported at $0.00, this appears to be administrative conversion/transfer activity rather than a market sale or purchase of shares for cash.
• The A-code entry reflects RSUs vesting (a common form of compensation); vested RSUs are typically converted into shares or settled per company plan and are different from open‑market purchases (which some investors view as a stronger bullish signal).
• As a director and trustee of a family trust, this filing documents compensation/derivative mechanics and holdings rather than an opportunistic buy or sale by an officer.