Adobe Inc: Chair and CEO Shantanu Narayen exercised 8,300 shares

What happened

• Shantanu Narayen, Adobe's chair and CEO and a director, exercised options for a total of 8,300 shares on Oct 15, 2026. The exercises are reported at $0.00 per share.
• On the same date, 4,113 shares were surrendered to cover tax withholding at $251.67 per share, for a total of $1,035,119.

Key details

• Transaction date: Oct 15, 2026; filing date: Oct 19, 2026.
• Exercises (code M) reported: 2,200 shares, 1,265 shares, 1,978 shares, 2,857 shares — all at $0.00 per share (total 8,300 shares).
• Tax withholding (code F) reported: 1,090 shares for $274,320; 627 shares for $157,797; 980 shares for $246,637; 1,416 shares for $356,365 — all at $251.67 per share (total 4,113 shares for $1,035,119).
• Shares owned after the transaction: Not reported in the filing.
• Relevant footnotes from the filing:
  • F1: Shares held by The Narayen Family Trust, dtd 11/30/00, of which the reporting person is a trustee.
  • F2: Shares surrendered to pay tax liability due at vesting.
  • F3–F6: Grants vest 6.25% quarterly from vesting commencement dates of Jan 15, 2023; Jan 15, 2024; Jan 15, 2025; and Jan 15, 2026.
• Transaction codes: M = option exercise (derivative conversion); F = payment of exercise price or tax liability (shares surrendered for tax withholding).

Why it may matter

• The filing shows exercised options and that a portion of the resulting shares were surrendered to satisfy tax withholding, consistent with a cashless approach to cover taxes.
• Some exercised shares are reported as held via The Narayen Family Trust per the filing.
• A filing does not show why the insider traded or why the company acted.