A director of software company Adobe Systems Inc. exercised options for and sold 25,000 shares of common stock, according to a Securities and Exchange Commission filing Friday.
In a Form 4 filed with the SEC, Delbert W. Yocam reported exercising options for the shares Friday for $29.74 apiece. He then sold all of them on the same day for $39.80 to $40 each.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Adobe is based in San Jose, Calif.
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