Form 8-K · Current report
Adobe Inc. 8-K, filed Jul 17, 2026
- Filed
- CIK
- 0000796343
- Accession no.
- 0000796343-26-000120
Summary
Adobe's Executive Compensation Committee approved a retention letter with Louise Pentland granting severance benefits on qualifying terminations, including cash, COBRA coverage, and equity acceleration. The protections are temporary and sunset 12 months after a new Adobe Chief Executive Officer begins employment.
Key points
- The retention letter provides 12 months of base salary plus 100% of target annual bonus as a lump sum if Pentland is terminated without cause or resigns for good reason.
- It also provides up to 12 months of COBRA premium payments and accelerated vesting of 50% of certain retention RSUs for terminations before July 15, 2027.
- Terminations before January 31, 2027 accelerate time-based equity awards as to the portion that would have vested through that date.
- Severance is conditioned on execution and non-revocation of a release of claims.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
From the filing
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. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.