Adobe Inc. filed SEC Form 8-K: Leadership Update
$ADBE
Computer Software: Prepackaged Software
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 14, 2026
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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 employment with the Company, at which point these protections will no longer be in effect.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ADOBE INC. | |||||||||||||||||
Date: July 17, 2026 | By: | /s/ LOUISE PENTLAND | |||||||||||||||
Louise Pentland | |||||||||||||||||
Chief Legal Officer and Executive Vice President, Legal and Government Relations | |||||||||||||||||
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