A maker of creative software whose Photoshop, Illustrator, Acrobat, and Creative Cloud tools are used by designers, photographers, and everyday folks. Its AI models, Firefly, help generate images and content inside these apps, and its Experience Cloud helps marketers manage customer campaigns. Founded in 1982 by two Xerox researchers, John Warnock and Charles Geschke, after their employer declined their idea; the name came from Adobe Creek, a stream behind Warnock's home in California.
Adobe grants Louise Pentland retention severance benefits effective July 14, 2026
The letter provides severance benefits if her employment is terminated without cause or for good reason.
Show detailsHide details
On July 14, 2026, Adobe's Executive Compensation Committee approved a retention letter with Louise Pentland, Chief Legal Officer and EVP.
Benefits include 12 months of base salary plus 100% of target annual bonus, and up to 12 months of COBRA premium payments.
Accelerated vesting of certain RSUs is provided if termination occurs before July 15, 2027, and other time-based equity awards vest through January 31, 2027 if termination occurs before that date.
The severance protections are temporary and will sunset 12 months after a new CEO commences employment.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Adobe CFO Daniel Durn to resign; Steven Day named interim CFO
Daniel Durn notified Adobe of his resignation as CFO and EVP, Finance, Technology, Security and Operations, effective June 15, 2026.
Show detailsHide details
Steven Day, SVP, Customer Experience Orchestration Business Unit CFO and Corporate Finance, was appointed interim CFO effective June 15, 2026.
Day joined Adobe in 2006 and has held various finance roles, including VP, Digital Experience Business Unit CFO and Interim Head of Investor Relations.
No arrangement or family relationship exists between Day and any director or executive officer, and no reportable transactions under Item 404(a).
Adobe also reported record Q2 FY2026 revenue of $6.62 billion, up 13% year-over-year.
2.02 Results of Operations and Financial Condition · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Adobe announces new $25 billion stock repurchase program approved by board.
The program is designed to return value to stockholders, minimize dilution, and reduce share count over time.
Show detailsHide details
On April 21, 2026, Adobe announced a new stock repurchase program authorizing up to $25 billion in common stock through April 30, 2030.
Adobe may repurchase shares in the open market and enter into structured repurchase agreements with third parties.
The repurchase program was approved by Adobe's Board of Directors and is substantially similar to previous programs.
Adobe has no obligation to repurchase any amount under the new program.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Adobe CEO Shantanu Narayen to transition after successor is named; remains Chair.
On March 9, 2026, Shantanu Narayen notified Adobe of his decision to transition from his role as Chief Executive Officer.
Show detailsHide details
Adobe is conducting a search for Narayen's successor; he will remain CEO until a successor is appointed.
Narayen will remain as Chair of Adobe's Board of Directors after the transition.
The Board appointed Frank Calderoni, Lead Independent Director, as Chair of the special committee to direct the CEO search.
Adobe also reported record Q1 FY2026 revenue of $6.40 billion, up 12% year-over-year.
2.02 Results of Operations and Financial Condition · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Adobe grants 2026 performance shares and approves executive incentive plan and severance policy
On January 26, 2026, Adobe's Executive Compensation Committee approved the 2026 Performance Share Program and granted performance share awards to executive officers, with target awards ranging from 27,631 shares for CFO Daniel Durn to 106,672 shares for CEO Shantanu Narayen.
Show detailsHide details
The performance shares vest based 50% on relative total stockholder return versus the NASDAQ-100 Index over 2026-2028 and 50% on Net New Sales goals for fiscal years 2026-2028, with payouts from 0% to 200% of target.
The Committee also approved the 2026 Executive Annual Incentive Plan, providing cash bonuses up to 155% of target (with target percentages of base salary ranging from 100% for the CFO to 200% for the CEO), subject to achieving at least 95% of revenue and EPS targets.
Adobe adopted an Executive Officer Cash Severance Policy requiring stockholder ratification for any new or amended cash severance arrangements exceeding 2.99 times base salary plus target bonus.
The 2024 and 2025 Performance Share Programs were amended to align their Net New Sales goals with the 2026 program for applicable fiscal years.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Earnings8-K
Adobe reports record Q4 and FY2025 revenue, targets double-digit ARR growth in FY2026
Q4 FY2025 revenue was $6.19 billion, up 10% year-over-year as reported and in constant currency.
Show detailsHide details
Q4 GAAP diluted EPS was $4.45; non-GAAP diluted EPS was $5.50.
FY2025 revenue was $23.77 billion, up 11% year-over-year as reported and in constant currency.
FY2025 operating cash flow was $10.03 billion; Total Adobe ARR exiting the year was $25.20 billion.
FY2026 targets: total revenue $25.90–$26.10 billion, Total Adobe ending ARR growth of 10.2% year-over-year, GAAP EPS $17.90–$18.10, non-GAAP EPS $23.30–$23.50.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits