Form 4: Adobe SVP & CAO Mark S. Garfield Reports Stock Transactions
SEC Form 4
Mark S. Garfield, SVP & CAO of Adobe Inc., reports the acquisition and disposal of common stock and restricted stock units on June 14 and June 17, 2024, according to a Form 4 filing.
Summary
- Mark S. Garfield, a Senior Vice President and Chief Accounting Officer at Adobe Inc., filed a Form 4 detailing changes in beneficial ownership of Adobe's stock.
- On June 14, 2024, Garfield exercised restricted stock units, acquiring 62 shares and 459 shares of common stock.
- He also disposed of 30 shares and 227 shares to cover tax liabilities at a price of $525.31 per share.
- On June 17, 2024, Garfield sold 264 shares of common stock at a price of $525.51 per share.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 2, 2024.
- Following these transactions, Garfield directly owns 2,739.7104 shares of Adobe common stock and 1,375 derivative securities.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.
Industry Context
Form 4 filings are a routine part of insider trading activity and are closely monitored by investors for signals about a company's prospects. These transactions are legal as long as they comply with SEC regulations, including Rule 10b5-1, which allows insiders to set up pre-arranged trading plans.
Stakeholder Impact
- Shareholders may be interested in the trading activity of company executives as an indicator of their confidence in the company's future performance.
Key Dates
| Date | Description |
|---|---|
| 02/02/2024 | Date the reporting person adopted a Rule 10b5-1 trading plan. |
| 03/15/2021 | Vesting commencement date for restricted stock units. |
| 06/14/2024 | Date of restricted stock units exercise and tax liability share disposal. |
| 06/17/2024 | Date of common stock sale. |
| 06/18/2024 | Date of Form 4 signature. |
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