Adobe (ADBE) CMO Balazs Lara Exercises Options, Receives Award

What Happened Balazs Lara, Chief Marketing Officer & EVP of Adobe (ADBE), exercised options/converted derivatives and received a grant of 31,662 shares (derivative award) on July 15, 2026. In connection with these transactions, Lara surrendered 609 shares and 648 shares to cover tax withholding at $224.56 per share, totaling approximately $282,272. Several derivative exercise/conversion line items show acquisitions and corresponding disposals (net-share/settlement entries).

Key Details

• Transaction date: July 15, 2026; Form 4 filed July 17, 2026 (filed timely).
• Exercises/conversions reported: 1,230 and 1,308 shares (converted/exercised) plus a 31,662‑share award (derivative).
• Tax-related dispositions: 609 shares @ $224.56 = $136,757 and 648 shares @ $224.56 = $145,515 (total ≈ $282,272) surrendered to satisfy tax liability (footnote F2).
• Footnotes of note:
  • F1: Includes 75.007 shares acquired June 30, 2026 under Adobe’s ESPP.
  • F3–F5: Vesting schedules apply (various annual/quarterly vesting commencement dates).
• Shares owned after the transaction are not specified in this Form 4.

Context

• These were derivative/award transactions (code M = option/derivative exercise; A = grant/award; F = shares surrendered for taxes). The surrender of shares to cover taxes is a common withholding method and does not necessarily indicate an open‑market sale. The 31,662‑share award appears subject to time‑based vesting per the listed footnotes, so full ownership will occur over the stated vesting schedule.