Form 4: Adobe EVP, Chief People Officer Gloria Chen Reports Stock Transactions
SEC Form 4 Filing
Gloria Chen, EVP and Chief People Officer at Adobe, reports the vesting and disposal of restricted stock units to cover tax liabilities.
Summary
- Gloria Chen, an executive at Adobe Inc., reported transactions involving Adobe's common stock on April 24, 2024.
- These transactions included the vesting of restricted stock units (RSUs) and the subsequent disposal of shares to cover tax obligations.
- Specifically, 402 and 424 shares vested from restricted stock units, and 199 and 210 shares were disposed of to satisfy tax liabilities at a price of $477.12 per share.
- Following these transactions, Chen directly owns 30,432.2214 shares of Adobe common stock and indirectly owns 667 shares through a trust.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/08/2004 | Date of The John Kibarian and Gloria Chen Trust |
| 01/24/2021 | Vesting commencement date for some restricted stock units, vesting 25% on the first anniversary and then 6.25% quarterly thereafter. |
| 01/24/2022 | Vesting commencement date for some restricted stock units, vesting 25% on the first anniversary and then 6.25% quarterly thereafter. |
| 04/24/2024 | Date of stock transactions: vesting of RSUs and disposal of shares for tax liabilities. |
| 04/25/2024 | Date of signature for the Form 4 filing. |
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