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 April 24 and 25, 2024.

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 April 24, 2024, Garfield acquired 100 shares of common stock through the vesting of restricted stock units and disposed of 49 shares to cover tax liabilities at a price of $477.12 per share, resulting in a holding of 4,179.2214 shares.
• Also on April 24, 2024, he acquired 91 shares of common stock through the vesting of restricted stock units and disposed of 45 shares to cover tax liabilities at a price of $477.12 per share, resulting in a holding of 4,225.2214 shares.
• On April 25, 2024, Garfield sold 97 shares of common stock at a price of $468.41 per share, resulting in a holding of 4,128.2214 shares.
• These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 5, 2023.
• Garfield also holds derivative securities in the form of restricted stock units, which vest quarterly.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions related to stock options and sales under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a routine part of insider trading activity and provide transparency into the buying and selling behavior of company executives and directors. These filings are closely watched by investors as they can provide signals about management's view of the company's prospects.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the small number of shares involved.
• The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates