Form 4: Adobe EVP & CFO Daniel Durn Reports Stock Transactions
SEC Form 4 Filing
Daniel Durn, EVP & CFO of Adobe Inc., reported the acquisition and disposal of common stock and restricted stock units on April 15, 2025, according to a Form 4 filing with the SEC.
Summary
- On April 15, 2025, Daniel Durn, the EVP & CFO of Adobe Inc., engaged in multiple transactions involving Adobe's common stock and restricted stock units.
- Durn acquired shares of common stock through the vesting of restricted stock units.
- Specifically, 1,132 shares, 650 shares, and 1,050 shares were acquired as restricted stock units vested.
- Simultaneously, Durn disposed of shares to cover tax liabilities associated with the vesting of these restricted stock units.
- A total of 592 shares, 340 shares, and 549 shares were disposed of at a price of $350.38 per share to satisfy tax obligations.
- Following these transactions, Durn directly owns 31,227.098 shares of Adobe common stock.
- Durn also holds 7,921, 7,156, and 15,758 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions for tax purposes, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- The practice of selling shares to cover tax liabilities upon vesting is a common practice among executives at publicly traded companies.
- Comparing Durn's holdings and transactions to those of executives at peer companies like Microsoft (MSFT) or Oracle (ORCL) would provide a broader context for assessing the significance of these transactions.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- Shareholders may be interested in the details of executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 01/15/2023 | Vesting commencement date for 1,132 Restricted Stock Units, vesting 6.25% quarterly. |
| 01/15/2024 | Vesting commencement date for 650 Restricted Stock Units, vesting 6.25% quarterly. |
| 01/15/2025 | Vesting commencement date for 1,050 Restricted Stock Units, vesting 6.25% quarterly. |
| 04/15/2025 | Date of stock transactions: acquisition of shares through vesting of restricted stock units and disposal of shares for tax liability. |
| 04/17/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Daniel Durn, Adobe, Stock Transactions, Restricted Stock Units, Beneficial Ownership, ADBE, CFO
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