Adobe (ADBE) Interim CFO Steven Day Exercises RSUs, Surrenders Shares

What Happened

• Steven Day, Adobe’s Interim Chief Financial Officer and SVP, had 58 restricted stock units (derivative awards) convert to common shares on Aug 15, 2026. The market price shown on the filing was $264.02 per share.
• Of the 58 shares that vested/converted, 28 were surrendered to cover tax withholding (28 x $264.02 = $7,393). That leaves a net 30 shares retained by Day (30 x $264.02 ≈ $7,921).

Key Details

• Transaction date: August 15, 2026; Form 4 filed August 17, 2026 (filed within the standard two-business-day window).
• Listed transactions: conversion/exercise of derivative (M) for 58 shares at $0.00 (acquired), surrender of 28 shares for tax withholding (F) at $264.02 per share = $7,393 (disposed).
• Net shares added to Day’s holdings from this vesting event: 30 shares.
• Footnotes: F1 — shares surrendered to pay tax liability due at vesting; F2 — award vests 6.25% quarterly beginning Aug 15, 2023 (scheduled vesting).

Context

• This was a scheduled vesting/conversion of derivative awards (RSUs/awards), not an open-market purchase or investment decision. The surrender of shares to cover taxes is a routine withholding method and does not on its own indicate a change in insider sentiment.