Form 4: Adobe EVP Chen Reports Stock Transactions

Adobe's EVP and Chief People Officer, Gloria Chen, reported the vesting of restricted stock units and subsequent common stock transactions, including shares surrendered for tax obligations.

Summary

• Gloria Chen, EVP, Chief People Officer of Adobe Inc., reported multiple stock transactions on January 14 and 15, 2026.
• On January 15, 2026, Chen acquired a total of 1,938 shares of Adobe Common Stock through the vesting of Restricted Stock Units (RSUs).
• Concurrently, Chen disposed of 701 shares of Common Stock at a price of $304.09 per share to cover tax liabilities associated with the RSU vesting.
• The net increase in directly held Common Stock from these vesting and tax-related transactions was 1,237 shares.
• Following these transactions, Chen directly holds 41,500.112 shares of Common Stock and indirectly holds 667 shares through a trust.
• On January 14, 2026, Chen earned an additional 7,881 Restricted Stock Units (RSUs) under various performance share programs (2023, 2024, and 2025 Performance Share Programs) for achieving fiscal year 2025 Net New Sales goals and a three-year relative total stockholder return goal.
• These newly earned RSUs will vest in full on the three-year anniversary of their respective vesting commencement dates (January 24, 2023, January 24, 2024, and January 24, 2025).
• After all reported transactions, Chen beneficially owns a total of 23,192 Restricted Stock Units.

Sentiment

Score: 7

Explanation: The filing indicates positive performance leading to the earning of performance-based Restricted Stock Units and a net increase in the executive's direct stock ownership, which is generally a positive signal for the executive and potentially for the company's performance against internal goals.

Positives

• Gloria Chen earned 7,881 Restricted Stock Units under performance share programs, indicating achievement of fiscal year 2025 Net New Sales goals and a three-year relative total stockholder return goal.
• The vesting of 1,938 RSUs increased Chen's direct beneficial ownership of Adobe Common Stock by a net of 1,237 shares.

Negatives

• 701 shares of Common Stock were disposed of to cover tax liabilities, representing a reduction in direct share ownership, which is a standard practice for RSU vesting.

Future Outlook

The newly earned performance-based Restricted Stock Units (RSUs) will vest in full on the three-year anniversary of their respective vesting commencement dates (January 24, 2023, January 24, 2024, and January 24, 2025). Other RSUs continue to vest quarterly at a rate of 6.25% from their respective commencement dates.

Industry Context

This filing represents routine executive compensation activity for a senior officer at a major technology company. The structure of performance share programs tied to Net New Sales goals and Total Stockholder Return is a common practice in the tech industry to align executive incentives with company performance and shareholder value.

Stakeholder Impact

• Shareholders: Provides transparency into executive compensation and insider ownership changes. The earning of performance shares suggests the company met certain internal performance targets (Net New Sales, TSR).
• Employees: Reflects the compensation structure for senior executives, which can influence broader compensation philosophies.

Next Steps

• Future vesting of the 7,881 performance-based RSUs on the three-year anniversaries of their respective commencement dates (January 24, 2023, January 24, 2024, and January 24, 2025).
• Continued quarterly vesting of other RSUs.

Key Dates

Keywords

Adobe, ADBE, Gloria Chen, Insider Trading, Form 4, Restricted Stock Units, RSU Vesting, Executive Compensation, Stock Transactions, Performance Shares