Form 4: Adobe SVP & CAO Mark S. Garfield Reports Stock Transactions

Mark S. Garfield, SVP & CAO of Adobe Inc., reports the acquisition and disposal of common stock and restricted stock units on July 24 and 25, 2024, according to a Rule 10b5-1 trading plan.

Summary

• Mark S. Garfield, a Senior Vice President and Chief Accounting Officer at Adobe Inc., filed a Form 4 detailing changes in beneficial ownership.
• On July 24, 2024, Garfield acquired 101 shares of common stock and disposed of 50 shares to cover tax liabilities at a price of $531.04.
• Also on July 24, 2024, Garfield acquired 91 shares of common stock and disposed of 45 shares to cover tax liabilities at a price of $531.04.
• On July 25, 2024, Garfield sold 97 shares of common stock at a price of $537.
• These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 2, 2024.
• Following these transactions, Garfield directly owns 2,797.4464 shares of Adobe Inc. common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for corporate insiders to report their transactions in company stock, providing transparency to the market.

Comparison to Industry Standards

• Similar filings are routinely made by executives at comparable companies like Microsoft (MSFT), Salesforce (CRM), and Oracle (ORCL) to disclose their stock transactions.
• The use of Rule 10b5-1 trading plans is a common practice among corporate insiders to avoid accusations of insider trading, aligning with industry standards for ethical trading practices.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The transactions themselves may have a minor impact on the stock price.

Key Dates