Sec Form 4 Filing - NARAYEN SHANTANU @ ADOBE INC. - 2023-01-24

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person NARAYEN SHANTANU 2. Issuer Name and Ticker or Trading Symbol ADOBE INC. [ ADBE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chairman and CEO (Last) (First) (Middle) ADOBE INC., 345 PARK AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 01/24/2023 (Street) SAN JOSE, CA95110 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/24/2023 M 41,314 A $ 0 450,180 I by trust( 1 ) Common Stock 01/24/2023 F 20,483( 2 ) D $ 361.32 429,697 I by trust( 1 ) Common Stock 01/24/2023 M 2,578 A $ 0 432,275 I by trust( 1 ) Common Stock 01/24/2023 F 1,285( 2 ) D $ 361.32 430,990 I by trust( 1 ) Common Stock 01/24/2023 M 1,756 A $ 0 432,746 I by trust( 1 ) Common Stock 01/24/2023 F 870( 2 ) D $ 361.32 431,876 I by trust( 1 ) Common Stock 01/24/2023 M 1,307 A $ 0 433,183 I by trust( 1 ) Common Stock 01/24/2023 F 648( 2 ) D $ 361.32 432,535 I by trust( 1 ) Common Stock 01/24/2023 M 5,017 A $ 0 437,552 I by trust( 1 ) Common Stock 01/24/2023 F 2,487( 2 ) D $ 361.32 435,065 I by trust( 1 ) Common Stock 119.0511 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Performance Shares $ 0 01/24/2023 M 41,314 ( 3 ) ( 3 ) Common Stock 41,314 $ 0 0 D Restricted Stock Units $ 0 01/24/2023 M 2,578 ( 4 ) ( 4 ) Common Stock 2,578 $ 0 0 D Restricted Stock Units $ 0 01/24/2023 M 1,756 ( 5 ) ( 5 ) Common Stock 1,756 $ 0 7,027 D Restricted Stock Units $ 0 01/24/2023 M 1,307 ( 6 ) ( 6 ) Common Stock 1,307 $ 0 10,455 D Restricted Stock Units $ 0 01/24/2023 M 5,017 ( 7 ) ( 7 ) Common Stock 5,017 $ 0 15,050 D Performance Shares $ 0 01/24/2023 A V 164,248( 8 ) ( 9 ) ( 9 ) Common Stock 164,248 $ 0 164,248 D Restricted Stock Units $ 0 01/24/2023 A 35,196 ( 10 ) ( 10 ) Common Stock 35,196 $ 0 35,196 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other NARAYEN SHANTANU ADOBE INC. 345 PARK AVENUE SAN JOSE, CA95110 X Chairman and CEO Signatures /s/ Allison Blais, as attorney-in-fact 01/26/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Shares held by The Narayen Family Trust, dtd 11/30/00 of which reporting person is a trustee. ( 2 )Shares surrendered to pay tax liability due at vesting. ( 3 )The Performance Shares vested in full upon the certification of performance goal achievement at 63% following the three-year anniversary of the January 24, 2020 vesting commencement date. ( 4 )Vests 25% on the first anniversary of the January 24, 2019 vesting commencement date and then 6.25% quarterly thereafter. ( 5 )Vests 25% on the first anniversary of the January 24, 2020 vesting commencement date and then 6.25% quarterly thereafter. ( 6 )Vests 25% on the first anniversary of the January 24, 2021 vesting commencement date and then 6.25% quarterly thereafter. ( 7 )Vests 25% on the first anniversary of the January 24, 2022 vesting commencement date and then 6.25% quarterly thereafter. ( 8 )Represents 200% of the target payout (the maximum number of Performance Shares that will be earned, if at all) following the three-year performance period. ( 9 )The Performance Shares will vest in full upon the certification of performance goal achievements following the three-year anniversary of the January 24, 2023 vesting commencement date if the performance goals are achieved. ( 10 )Vests 6.25% quarterly from the vesting commencement date of January 15, 2023.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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