ADBE: Leadership change

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 14, 2026, the Executive Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Adobe Inc. (the “Company” or “Adobe”) approved entering into a form of retention letter (the “Retention Letter”) with Louise Pentland pursuant to which Ms. Pentland will receive the following severance benefits in the event of a termination of her employment by the Company without Cause (other than as a result of death or disability) or by her for Good Reason (each as defined in the Retention Letter): (i) a lump-sum cash payment equal to the sum of (A) 12 months of Ms. Pentland’s base salary in effect as of the termination date and (B) 100% of Ms. Pentland’s target annual bonus for the fiscal year in which the termination occurs; (ii) payment of COBRA premiums for up to 12 months following termination; (iii) if the termination occurs prior to July 15, 2027, accelerated vesting of 50% of certain restricted stock unit awards granted to Ms. Pentland (as described and defined in the Retention Letter, the Retention RSUs); and (iv) if the termination occurs prior to January 31, 2027, accelerated vesting of each outstanding time-based equity award (other than the Retention RSUs) as to the portion that would have vested had Ms. Pentland remained employed through January 31, 2027. Ms. Pentland’s receipt of severance benefits is conditioned upon, among other things, the execution and non-revocation of a release of claims. The severance protections set forth in the Retention Letter are designed to be temporary in nature and will sunset 12 months following the date the new Chief Executive Officer commences employm