ADOBE INC.
For the period ended Feb 28, 2025. Filed Mar 26, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Feb 28, 2025 · Filed Mar 26, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Below is a summary of stock repurchases for the three months ended February 28, 2025. See Note 10 of our notes to condensed consolidated financial statements for information regarding our stock repurchase program.
| Period · Total Number of SharesRepurchased · AveragePrice PaidPer Share · Total Number of Shares Purchased as Part of Publicly Announced Plans · Approximate Dollar Value that May Yet be Purchased Under the Plans (1) | |||||||
|---|---|---|---|---|---|---|---|
| (in millions, except average price per share) | |||||||
| Beginning repurchase authority | $17,650 | ||||||
| Accelerated share repurchases (2),(3) | 5.9 | $— | 5.9 | $(2,750) | (3) | ||
| Shares repurchased | 0.4 | $423.76 | 0.4 | $(167) | |||
| Shares repurchased | 0.7 | $446.39 | 0.7 | $(333) | |||
| Total | 7.0 | 7.0 | $14,400 | ||||
(1)In March 2024, our Board of Directors granted authority to repurchase up to $25 billion in our common stock through March 14, 2028.
(2)In September 2024, we entered into an accelerated share repurchase agreement (“ASR”) with a large financial institution whereupon we provided them with a prepayment of $2.5 billion and received an initial delivery of shares at contract inception representing a portion of the prepayment. Upon final settlement of this ASR in December 2024, we received an incremental delivery of 1.4 million shares of our common stock. Under this ASR, we repurchased a total of 5.0 million shares at an average price of $501.37.
(3)In December 2024, we entered into an ASR with a large financial institution whereupon we provided them with a prepayment of $2.75 billion and received an initial delivery of 4.5 million shares of our common stock at contract inception, representing a portion of the prepayment. Subsequent to February 28, 2025, this ASR was settled which resulted in total repurchases of 6.3 million shares at an average price of $433.84.
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