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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
796343	Adobe Systems Inc	ADBE	Services-Prepackaged Software (7372)	770019522

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1224150	O Karen Cottle	Adobe Systems Incorporated 345 Park Avenue San Jose CA 95110	Svp, Gen. Counsel & Secretary	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-03-21	41,251	$32.42	115,356	No	4	M	Direct
Common Stock	Disposition	2012-03-21	41,251	$33.30	74,105	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (right to buy)	Disposition	2012-03-21	41,251	$0.00	41,251	$32.42

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2012-03-21	2012-05-24	No	4	M	Direct

Footnotes

The option exercise and sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person January 31, 2012.
This transaction was executed in multiple trades at prices ranging from $33.10 to $33.42. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range.
Vests at a rate of 25% of the original grant of 110,000 shares on the one-year anniversary of the May 24, 2005 grant date, 2.08% of the original grant per month for the following 12 months, and 4.17% of the original grant per month for the remaining 12 months.