Aug 2026 (Q3 FY26) — Sep 10, 2026
Adobe Q3 FY26 — Strong AI-Driven Growth and Leadership Transition
Read the full callAdobe (ADBE) earnings
- Aug 2026
- Aug 2026 (Q3 FY26)
- Nov 2025
Adobe earnings: last reported Thu, 10 Sep 2026, for the quarter ended Aug 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 6,760 | +12.9% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | 34.8 | −1.5 pts YoY | Operating profit / revenue | Quarter to Aug 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,827 | +3.1% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
62 of 66 judged targets kept · 42 open · verdicts reflect calls analysed to Aug 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Business Professionals and Consumers subscription revenue | $1.87 billion to $1.89 billion | May 2026 | Turning to Q3 results. Subscription revenue for Business Professionals and Consumers was $1.91 billion, growing 15% year-over-year. | Achieved |
| Creative and Marketing Professionals Subscription revenue | $17.75 billion to $17.9 billion | Nov 2025 | Creative and Marketing Professionals subscription revenue of $18.242 billion to $18.272 billion; | Revised Up |
| Total Adobe ending ARR book of business growth | 10.2% year-over-year | Nov 2025 | total Adobe ending ARR book of business growth of 10.2% year-over-year compared to our FY '26 beginning book of business of $25.66 billion; | On Track |
4 of ADOBE INC.'s 108 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 105 more targets are in the full ledger.
Claimed
- Total revenue reached $6.76 billion, growing 12% year-over-year.
- Non-GAAP EPS increased 15% year-over-year to $6.13.
- AI-first ending ARR exceeded $650 million, growing over 150% year-over-year.
- Creative freemium MAU surpassed 100 million, growing over 70% year-over-year.
- Q3 cash flows from operations were a record $2.52 billion.
Qualified
- Net new ARR was down 36-37% year-over-year, attributed to the freemium strategy and deferred pricing initiatives.
- RPO growth of 8% year-over-year and cRPO growth of 9% year-over-year were single-digit, reflecting the freemium focus.
Price
$247.09 +0.77% · +$1.89
Performance −25.9% 1Y
1Y: $333.26 on 17 Oct 2025 → $247.09. High $359.91 (28 Oct 2025), low $193.41 (25 Jun 2026).
- Previous close
- $245.2
- 52-week range
- $193.41 – $359.91
- One year
- −28.05%
Overview
- Symbol
- ADBE
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
62 of 66 judged targets kept · 42 open · verdicts reflect calls analysed to Aug 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Business Professionals and Consumers subscription revenue | $1.87 billion to $1.89 billion | May 2026 | Turning to Q3 results. Subscription revenue for Business Professionals and Consumers was $1.91 billion, growing 15% year-over-year. | Achieved |
| Creative and Marketing Professionals Subscription revenue | $17.75 billion to $17.9 billion | Nov 2025 | Creative and Marketing Professionals subscription revenue of $18.242 billion to $18.272 billion; | Revised Up |
| Total Adobe ending ARR book of business growth | 10.2% year-over-year | Nov 2025 | total Adobe ending ARR book of business growth of 10.2% year-over-year compared to our FY '26 beginning book of business of $25.66 billion; | On Track |
Claimed
- Total revenue reached $6.76 billion, growing 12% year-over-year.
- Non-GAAP EPS increased 15% year-over-year to $6.13.
- AI-first ending ARR exceeded $650 million, growing over 150% year-over-year.
- Creative freemium MAU surpassed 100 million, growing over 70% year-over-year.
- Q3 cash flows from operations were a record $2.52 billion.
Qualified
- Net new ARR was down 36-37% year-over-year, attributed to the freemium strategy and deferred pricing initiatives.
- RPO growth of 8% year-over-year and cRPO growth of 9% year-over-year were single-digit, reflecting the freemium focus.
The full ledger
Open ADOBE INC.’s full ledger
A free account opens 5 company ledgers a month. All 108 tracked commitments, with each call’s wording and source.
Call summaries
May 2026 (Q2 FY26) — Jun 11, 2026
Adobe Q2 FY26 — record revenue as company pivots aggressively to AI-era freemium, cutting near-term ARR
Read the full callFeb 2026 (Q1 FY26) — Mar 12, 2026
Adobe Inc. Q1 FY26 — Strong AI-Driven Growth and CEO Transition
Read the full callEvery analysed call
Adobe earnings calls (ADBE)
Financials
What the filings say
Net profit, year on year: +3% (quarter to aug 2026 against aug 2025).
| Line item | Nov 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Feb 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 5,606 | 5,714 | 5,873 | 5,988 | 6,194 | 6,398 | 6,618 | 6,760 |
| Operating profit | 1,957 | 2,163 | 2,109 | 2,173 | 2,261 | 2,418 | 2,238 | 2,354 |
| Operating margin | 34.9% | 37.9% | 35.9% | 36.3% | 36.5% | 37.8% | 33.8% | 34.8% |
| Other income | 34 | 19 | -8 | 14 | 3 | 4 | 0 | 3 |
| Interest | 50 | 62 | 68 | 67 | 66 | 63 | 65 | 66 |
| Profit before tax | 1,991 | 2,182 | 2,101 | 2,187 | 2,264 | 2,422 | 2,238 | 2,357 |
| Tax rate | 15.5% | 17.0% | 19.5% | 19.0% | 18.0% | 22.0% | 23.5% | 22.5% |
| Net profit | 1,683 | 1,811 | 1,691 | 1,772 | 1,856 | 1,889 | 1,712 | 1,827 |
| EPS ($ per share) | — | 4.15 | 3.95 | 4.18 | — | 4.60 | 4.26 | 4.63 |
| Line item | Nov 2018 | Nov 2019 | Nov 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 11,816 | 14,829 | 19,611 | 23,905 | 28,319 | 33,346 | 38,470 | 45,354 |
| Total liabilities | 9,407 | 10,232 | 11,020 | 12,444 | 13,114 | 13,261 | 16,125 | 17,873 |
| Fixed assets | 1,075 | 1,293 | 1,517 | 1,673 | 1,908 | 2,030 | 1,936 | 1,873 |
| Investments | 1,586 | 1,527 | 1,514 | 1,954 | 1,860 | 701 | 273 | 1,164 |
| Total assets | 18,769 | 20,762 | 24,284 | 27,241 | 27,165 | 29,779 | 30,230 | 29,496 |
| Line item | Nov 2018 | Nov 2019 | Nov 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Nov 2024 | Nov 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 4,029 | 4,422 | 5,727 | 7,230 | 7,838 | 7,302 | 8,056 | 10,031 |
| Cash from investing | -4,685 | -456 | -414 | -3,537 | -570 | 776 | 149 | -1,187 |
| Cash from financing | -5 | -2,946 | -3,488 | -4,301 | -6,825 | -5,182 | -7,724 | -11,060 |
| Net cash flow | -663 | 1,007 | 1,828 | -634 | 392 | 2,905 | 472 | -2,182 |
| Capital expenditure | -267 | -395 | -419 | -348 | -442 | -360 | -183 | -179 |
| Free cash flow | 3,762 | 4,027 | 5,308 | 6,882 | 7,396 | 6,942 | 7,873 | 9,852 |
ADBE revenue by segment
| Segment | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | — | — | — | 100% | 100% | 100% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
ADBE operating KPIs by quarter
| KPI | Feb 2025 Q1 FY25 | Aug 2025 Q3 FY25 | Nov 2025 Q4 FY25 | Feb 2026 Q1 FY26 | May 2026 Q2 FY26 | Aug 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Annual recurring revenue (ARR) Digital Media | $17.63BWe exited the quarter with $17.63 billion of Digital Media ARR, growing our ending ARR book of business 12.6% year-over-year.Source: earnings call transcript | $18.59BWe exited the quarter with $18.59 billion of Digital Media ARR, growing ending ARR 11.7% year-over-year.Source: earnings call transcript | $19.2BWe exited the quarter with $19.2 billion of Digital Media ARR, growing ending ARR 11.5% year-over-year.Source: earnings call transcript | — | — | — | +3.3% |
| Annual recurring revenue (ARR) GenStudio | $1B+First quarter Digital Experience growth drivers included: momentum for product offerings across content, data and journeys; AEP and app subscription revenue growing nearly 50% year-on-year; GenStudio Solutions surpassing $1 billion in ending ARR book of business; early momentum in GenStudio for Performance Marketing and adoption and pipeline; and improvements in overall enterprise retention.Source: earnings call transcript | $1B+Our Workfront, Frame, AEM Assets, Firefly Services and GenStudio for performance marketing products, which are key components of the integrated GenStudio solution now exceed $1 billion in ARR growing over 25% year-over-year.Source: earnings call transcript | — | — | — | — | — |
| Remaining performance obligation (RPO) | $19.69BQ1 business and financial highlights included: Digital Media revenue of $4.23 billion; Digital Media ending ARR of $17.63 billion, growing 12.6% year-over-year; Digital Experience revenue of $1.41 billion; cash flows from operations of $2.48 billion; and exiting the quarter, remaining performance obligations were $19.69 billion, growing 12% year-over-year and cRPO growing 11%.Source: earnings call transcript | $20.44BAnd exiting quarter remaining performance obligations were $20.44 billion, growing 13% year-over-year or 12% in constant currency and CRPO growing 10% as reported and in constant currency.Source: earnings call transcript | $22.52BFY '25 business and financial highlights included: Digital Media revenue of $17.65 billion, growing 11% year-over-year as reported and in constant currency; Digital Experience segment revenue was $5.86 billion, growing 9% year-over-year as reported and in constant currency, Digital Experience subscription revenue was $5.41 billion, growing 11% year-over-year as reported and in constant currency; Digital Media ending ARR was $19.2 billion, growing 11.5% year-over-year, exceeding our prior target of 11.3%, over 75% of Digital Media net new ARR was driven by continued growth in subscriptions and cross-sell and up-sell, with the remainder from value-based pricing, reflecting the success of our customer acquisition strategy; Total Adobe ending ARR, across Business Professionals and Consumers and Creative and Marketing Professionals, of $25.2 billion, growing 11.5% year-over-year; cash flows from operations of $10.03 billion, and ending cash and short-term investment position of $6.6 billion; RPO of $22.52 billion exiting the year, growing 13% year-over-year, or 12% in constant currency, and cRPO growing 11% as reported or 10% in constant currency; and repurchasing approximately 30.8 million shares of our stock during the year.Source: earnings call transcript | $22.22BRPO of $22.22 billion exiting the quarter, growing 13% year-over-year or 12% in constant currency and cRPO growing 12% as reported or 11% in constant currency.Source: earnings call transcript | $22.27BRPO of $22.27 billion, exiting the quarter with RPO and cRPO, both growing 13% year-over-year or 12% in constant currency.Source: earnings call transcript | $22.16BQ3 financial highlights included: total Adobe ending ARR of $27.5 billion, growing 11.2% year-over-year; total customer group subscription revenue of $6.56 billion, growing 14% year-over-year or 13% in constant currency; RPO of $22.16 billion exiting the quarter growing 8% year-over-year and cRPO growing 9% year-over-year, both as reported and in constant currency; cash flows from operations were a Q3 record at $2.52 billion and ending cash and short-term investments exiting Q3 were $5.64 billion; and repurchasing approximately 9.5 million shares of our stock during the quarter.Source: earnings call transcript | -0.5% |
| New Express business customers | <6,000Strong business and student adoption, Express onboarded nearly 6,000 new businesses in Q1, representing approximately 50% quarter-over-quarter growth.Source: earnings call transcript | 14K+Over 14,000 organizations added Express in Q3 alone, a 4x increase in the quarter versus a year ago.Source: earnings call transcript | — | — | — | — | — |
| Annual recurring revenue (ARR) | — | — | $25.2BFY '25 business and financial highlights included: Digital Media revenue of $17.65 billion, growing 11% year-over-year as reported and in constant currency; Digital Experience segment revenue was $5.86 billion, growing 9% year-over-year as reported and in constant currency, Digital Experience subscription revenue was $5.41 billion, growing 11% year-over-year as reported and in constant currency; Digital Media ending ARR was $19.2 billion, growing 11.5% year-over-year, exceeding our prior target of 11.3%, over 75% of Digital Media net new ARR was driven by continued growth in subscriptions and cross-sell and up-sell, with the remainder from value-based pricing, reflecting the success of our customer acquisition strategy; Total Adobe ending ARR, across Business Professionals and Consumers and Creative and Marketing Professionals, of $25.2 billion, growing 11.5% year-over-year; cash flows from operations of $10.03 billion, and ending cash and short-term investment position of $6.6 billion; RPO of $22.52 billion exiting the year, growing 13% year-over-year, or 12% in constant currency, and cRPO growing 11% as reported or 10% in constant currency; and repurchasing approximately 30.8 million shares of our stock during the year.Source: earnings call transcript | $26.06BQ1 financial highlights included total Adobe ending ARR of $26.06 billion, growing 10.9% year-over-year.Source: earnings call transcript | $27.1BQ2 financial highlights included: total Adobe ending ARR of $27.1 billion, growing 12.5% year-over-year, including approximately $480 million from the acquisition of Semrush.Total Customer Group subscription revenue of $6.39 billion, growing 14% year-over-year or 12% in constant currency, including approximately $40 million from the addition of Semrush.Source: earnings call transcript | $27.5BQ3 financial highlights included: total Adobe ending ARR of $27.5 billion, growing 11.2% year-over-year; total customer group subscription revenue of $6.56 billion, growing 14% year-over-year or 13% in constant currency; RPO of $22.16 billion exiting the quarter growing 8% year-over-year and cRPO growing 9% year-over-year, both as reported and in constant currency; cash flows from operations were a Q3 record at $2.52 billion and ending cash and short-term investments exiting Q3 were $5.64 billion; and repurchasing approximately 9.5 million shares of our stock during the quarter.Source: earnings call transcript | +1.5% |
| Monthly active users (MAU) Acrobat and Express | — | — | 750M+Q4 growth drivers for Business Professionals and Consumers included: double digit ending ARR growth, with strength across digital, SMB and enterprise and across all geographies; mobile ending ARR grew greater than 30% year-over-year; monthly active users of Acrobat and Express surpassed 750 million, growing 20% year-over-year; and strong customer reception of Acrobat Studio, with nearly 50% of Acrobat commercial ETLAs renewed in Q4, already upgrading to this offering.Source: earnings call transcript | — | 850M+Acrobat and Express MAU surpassed 850 million, growing approximately 20% year-over-year.Source: earnings call transcript | 900M+Q3 growth drivers for Business Professionals and Consumers included: Double-digit ending ARR year-over-year growth across all geographies; Acrobat+ Express MAU surpassed 900 million, growing more than 25% year-over-year; Acrobat AI Assistant MAU doubled quarter-over-quarter; and strong performance in SMB across inside sales and the reseller channel.Source: earnings call transcript | — |
| Monthly active users (MAU) Creative freemium offerings | — | — | 70M+The tremendous innovations we showcased earned over 2,000 articles and garnered 820 million video views; growing our base of creative users across Firefly, Express, Premiere Mobile and other freemium offerings, MAU for these offerings surpassed 70 million in Q4, growing over 35% year over year; accelerating adoption of Firefly Services within enterprises with over 100 new deals signed in Q4; accelerating Generative Credit consumption in Creative Cloud, Firefly and Express by individuals and enterprises, which grew approximately 3x quarter-over-quarter; strength across all routes to market and geographies, with particular strength in SMB, Enterprise and emerging markets; and key enterprise wins include Coca Cola, HUMAIN, IKEA, JPMorganChase, Lowe's, Nintendo and Sony.Source: earnings call transcript | 80M+Notably, creative freemium MAU crossed 80 million, growing 50% year-over-year and includes web and mobile versions of Firefly, Express, Premiere, Photoshop and Lightroom.Source: earnings call transcript | 90M+Creative freemium MAU, which includes web and mobile versions of Firefly, Express, Premiere, Photoshop and Lightroom, crossed 90 million, growing over 70% year-over-year, continued strong generative credit consumption driven by video and audio.Source: earnings call transcript | 100M+Q3 growth drivers for Creative and Marketing Professionals included: Continued strength in Creative Cloud across our teams and enterprise offerings; creative freemium MAU, which includes Firefly Express and web and mobile versions of Premiere, Photoshop and Lightroom, crossed 100 million, growing over 70% year-over-year; Firefly ending ARR across Firefly apps and Firefly credit packs grew 40% quarter-over-quarter; customer growth in Firefly Enterprise with accelerating usage quarter-over-quarter; ending ARR growth of greater than 20% year-over-year for each of Adobe Experience Manager and agentic web apps, Adobe GenStudio and Adobe Experience Platform and apps; doubled the number of paid customers quarter-on-quarter for brand visibility solutions, helping brands optimize visibility across traditional and generative search; and continued strength in retention across the enterprise customer base.Source: earnings call transcript | — |
| Daily profile activations Adobe Experience Platform | — | — | 70B+Our platform operates at scale with over 35 trillion segment evaluations and more than 70 billion profile activations per day.Source: earnings call transcript | 70B+The scale of our platform has grown to over 35 trillion segment evaluations and more than 70 billion profile activations per day.Source: earnings call transcript | 70B+AEP delivers over 70 billion profile activations and 35 trillion segment evaluations per day, as well as more than 1 trillion experiences per year.Source: earnings call transcript | — | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q3 FY2026 · share of revenue
- Americas 59% ↓ 1 pt
- EMEA 27% ↑ 1 pt
- Asia 14%
As ADBE cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
244 filings between Oct 24, 2025 and Sep 17, 2026.
Open market
decisions to buy or sellPurchases
$1.95M
1 purchase by 1 insider
Sales
$50.77M
20 sales by 3 insiders
Compensation
not trading decisions- 116
- Option exercise — converted options into shares
- 106
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| NARAYEN SHANTANU | — | $49.61M | Sep 17, 2026 |
| Ricks David A | $1.95M | — | Jun 25, 2026 |
| Durn Daniel | — | $816.7K | Apr 20, 2026 |
| Forusz Jillian | — | $346.2K | Jul 29, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 17, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 1,378 | $339.1K |
| Sep 17, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 9,978 | $2.50M |
| Sep 17, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 3,430 | $848.4K |
| Sep 17, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 7,168 | $1.78M |
| Sep 17, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 10,313 | $2.57M |
| Sep 17, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 638 | $160.6K |
| Sep 17, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 17,595 | $4.40M |
| Sep 16, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 20,716 | $5.22M |
| Sep 16, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 11,495 | $2.91M |
| Sep 16, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 8,358 | $2.09M |
| Sep 16, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 930 | $235.9K |
| Sep 16, 2026 | NARAYEN SHANTANU Chair and CEO | Sale | 33,001 | $8.28M |
| Sep 15, 2026 | Day Steven Interim CFO and SVP | Tax withheld | 154 | $39.7K |
| Sep 15, 2026 | Forusz Jillian SVP & CAO | Option exercise | 2,858 | $0 |
| Sep 15, 2026 | Day Steven Interim CFO and SVP | Option exercise | 1,429 | $0 |
| Sep 15, 2026 | Forusz Jillian SVP & CAO | Tax withheld | 1,416 | $365.0K |
| Sep 15, 2026 | Pentland Adele Louise Chief Legal Officer & EVP | Tax withheld | 966 | $249.0K |
| Sep 15, 2026 | Day Steven Interim CFO and SVP | Tax withheld | 708 | $182.5K |
| Sep 15, 2026 | Day Steven Interim CFO and SVP | Option exercise | 312 | $0 |
| Sep 15, 2026 | Pentland Adele Louise Chief Legal Officer & EVP | Option exercise | 1,949 | $0 |
| Sep 15, 2026 | Forusz Jillian SVP & CAO | Option exercise | 227 | $0 |
| Sep 15, 2026 | Forusz Jillian SVP & CAO | Tax withheld | 112 | $28.9K |
| Aug 15, 2026 | Day Steven Interim CFO and SVP | Option exercise | 58 | $0 |
| Aug 15, 2026 | Day Steven Interim CFO and SVP | Tax withheld | 28 | $7.4K |
| Jul 29, 2026 | Forusz Jillian SVP & CAO | Sale | 416 | $110.0K |
| Jul 15, 2026 | Chakravarthy Anil President, CXO | Option exercise | 437 | $0 |
| Jul 15, 2026 | Chen Gloria EVP, Chief People Officer | Tax withheld | 381 | $85.6K |
| Jul 15, 2026 | Chen Gloria EVP, Chief People Officer | Option exercise | 770 | $0 |
| Jul 15, 2026 | Chen Gloria EVP, Chief People Officer | Option exercise | 442 | $0 |
| Jul 15, 2026 | Chen Gloria EVP, Chief People Officer | Tax withheld | 219 | $49.2K |
| Jul 15, 2026 | Chakravarthy Anil President, CXO | Tax withheld | 377 | $84.7K |
| Jul 15, 2026 | Chakravarthy Anil President, CXO | Tax withheld | 560 | $125.8K |
| Jul 15, 2026 | Wadhwani David President, C&P | Tax withheld | 560 | $125.8K |
| Jul 15, 2026 | Wadhwani David President, C&P | Option exercise | 1,130 | $0 |
| Jul 15, 2026 | Forusz Jillian SVP & CAO | Option exercise | 22 | $0 |
| Jul 15, 2026 | Wadhwani David President, C&P | Tax withheld | 345 | $77.5K |
| Jul 15, 2026 | NARAYEN SHANTANU Chair and CEO | Option exercise | 2,857 | $0 |
| Jul 15, 2026 | Wadhwani David President, C&P | Option exercise | 696 | $0 |
| Jul 15, 2026 | Chakravarthy Anil President, CXO | Option exercise | 761 | $0 |
| Jul 15, 2026 | Chakravarthy Anil President, CXO | Option exercise | 1,130 | $0 |
| Jul 15, 2026 | Wadhwani David President, C&P | Tax withheld | 216 | $48.5K |
| Jul 15, 2026 | NARAYEN SHANTANU Chair and CEO | Tax withheld | 626 | $140.6K |
| Jul 15, 2026 | NARAYEN SHANTANU Chair and CEO | Option exercise | 1,264 | $0 |
| Jul 15, 2026 | Wadhwani David President, C&P | Option exercise | 437 | $0 |
| Jul 15, 2026 | NARAYEN SHANTANU Chair and CEO | Option exercise | 1,977 | $0 |
| Jul 15, 2026 | NARAYEN SHANTANU Chair and CEO | Tax withheld | 980 | $220.1K |
| Jul 15, 2026 | Forusz Jillian SVP & CAO | Tax withheld | 11 | $2.5K |
| Jul 15, 2026 | NARAYEN SHANTANU Chair and CEO | Tax withheld | 1,416 | $318.0K |
| Jul 15, 2026 | Day Steven Interim CFO and SVP | Option exercise | 55 | $0 |
| Jul 15, 2026 | NARAYEN SHANTANU Chair and CEO | Tax withheld | 1,090 | $244.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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