Pentland Adele Louise 4

What Happened

• Adele (Adele Louise) Pentland, Chief Legal Officer & EVP of Adobe Inc. (ADBE), converted/ exercised 7,800 derivative awards into common stock on 2026-06-15. The conversion showed $0 per-share exercise price (typical for restricted stock/RSU conversions).
• To satisfy tax withholding, 3,676 of those shares were surrendered at an implied price of $206.36 per share, totaling $758,579. Net shares retained from the conversion were 4,124 (7,800 acquired − 3,676 withheld).
• This appears to be a routine vesting/conversion with share withholding for taxes rather than an open-market sale.

Key Details

• Transaction date: 2026-06-15; Filing date: 2026-06-16 (timely).
• Conversion: 7,800 derivative shares converted into common stock (code M) at $0.00 exercise price.
• Tax withholding: 3,676 shares surrendered (code F) at $206.36/share = $758,579.
• Net shares added: +4,124 shares to Pentland’s holdings from this vesting/conversion.
• Footnotes: F1 corrects a de minimis 8-share reporting error; F2 confirms shares were surrendered to pay tax withholding; F3 shows the award vests 25% on the first anniversary of June 15, 2025, then 6.25% quarterly thereafter.
• No 10b5-1 plan or other trading-plan note reported.

Context

• This transaction looks like a scheduled RSU/award vesting and conversion with shares withheld to cover taxes (a cashless/settlement-type transaction). Such withholding is routine and does not necessarily indicate the insider is “selling” for investment reasons.
• Transaction codes: M = exercise/conversion of derivative; F = shares surrendered for tax withholding.