Pentland Adele Louise 4

What Happened Adele Pentland, Adobe’s Chief Legal Officer & EVP, exercised/converted derivative awards and received a grant of 31,662 shares on July 15, 2026. As part of the transaction, 648 shares were surrendered to cover tax withholding at a reported value of $224.56 per share (totaling $145,515). The exercise/conversion lines were reported at $0.00 per share (derivative conversion), and the grant/award is reported as a derivative acquisition.

Key Details

• Transaction date: 2026-07-15; Form 4 filed 2026-07-17 (timely within the usual 2-business-day window).
• Reported items:
  • Exercise/conversion (code M): 1,308 shares @ $0.00 (acquired via conversion).
  • Tax withholding (code F): 648 shares surrendered @ $224.56 = $145,515 (disposed).
  • Grant/award (code A): 31,662 shares @ $0.00 (acquired, derivative).
• Shares owned after the transaction: not specified in the provided excerpt.
• Footnotes:
  • F1: Includes 75.007 shares acquired June 30, 2026 under Adobe’s 2020 ESPP.
  • F2: Confirms shares were surrendered specifically to pay tax liability due at vesting.
  • F3: Some awards vest 6.25% quarterly from Jan 15, 2026.
  • F4: Some awards vest 50% annually from July 15, 2026.

Context

• This was not an open-market sale; the 648-share disposition was a tax-withholding event (common on vesting/exercise), not a signal of a market sale.
• The large 31,662-share item is an awarded/derivative grant subject to vesting (per footnotes), so those shares are not fully free-trading immediately.
• Transaction codes: M = option/exercise or conversion of derivative; F = shares surrendered for tax withholding; A = grant/award.