NARAYEN SHANTANU, Chair and CEO of Adobe, has filed 85 Form 4 transactions, all in a single company: Adobe (ADBE). His pattern is one-directional. He has not bought a single share on the open market. His total sell value is $49,610,110.48, and his total acquired value is zero. Every transaction in his recent history is either a sale, an option exercise, a tax withholding, or a compensation grant. There is no open-market purchase in the record.
The recent trades cluster around two dates in September 2026. On September 16, he sold ADBE shares in five separate transactions totaling $18,913,575.29. The largest single sale that day was $8,283,449.93. On September 17, he sold seven more blocks, totaling $10,195,714.93. The largest was $4,402,036.75. Combined, those two days produced $29,109,290.22 in sales. The smallest sale in that window was $160,623.01 on September 17.
The rest of his recent activity is mechanical. On July 15 and October 15, 2026, he exercised options (code M) valued at zero, and shares were withheld to cover taxes (code F) at values like $356,364.72 and $317,976.96. On September 25, he received a compensation grant (code A) in Pfizer (PFE) worth $49,999.99, but that is the only non-ADBE ticker in the recent record. The direction is clear: he sells ADBE in large blocks, exercises options, and pays taxes in shares. No buying bias exists in his filing history.
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