Adobe (ADBE) President Anil Chakravarthy Exercises Options, Sells Shares

What Happened

Anil Chakravarthy, President (CXO) of Adobe (ADBE), converted/ exercised a total of 3,024 derivative awards into common shares on July 15, 2026. The conversions were recorded at $0.00 (typical for vested RSUs/stock-settled awards). To cover tax withholding, he surrendered 1,498 shares at $224.56 each, generating $336,391 in tax withholding value. After the share-withholding, he retained a net of 1,526 shares (market value ≈ $342,679 at $224.56/share).

Key Details

• Transaction date: July 15, 2026; Form filed July 17, 2026 (timely filing).
• Converted/acquired: 3,024 shares (groups of 761, 437, 696, and 1,130 shares).
• Shares surrendered for taxes: 1,498 shares (377, 216, 345, 560) at $224.56 each; total withheld ≈ $336,391.
• Net shares retained after withholding: 1,526 shares (net market value ≈ $342,679).
• Footnotes: Includes 75.007 shares acquired June 30, 2026 under Adobe's 2020 ESPP (F1). F2 confirms shares surrendered were for tax withholding. F3–F6 note the awards vest quarterly (6.25% per quarter) from various commencement dates (Jan 15 of 2023–2026).
• Filing timeliness: Not marked late — filed within the SEC’s Form 4 reporting window.

Context

• These were conversions/vestings of equity awards (derivative-to-share events) with shares withheld to satisfy tax obligations (a routine “net settlement”/tax withholding), not an open-market sale.
• The entries coded M indicate exercise/conversion of derivatives (e.g., RSUs/options); F indicates shares disposed to pay taxes.
• Such withholding transactions are common and do not necessarily signal a change in insider sentiment; they reflect tax obligations upon vesting/exercise.