Adobe (ADBE) Proxy Filing summary

Executive summary

• Achieved record revenue of $23.77B in fiscal 2025, up 11% year-over-year, with GAAP diluted EPS of $16.70, up 35% year-over-year.

• Digital Media revenue reached $17.65B (up 11%), Digital Experience revenue $5.86B (up 9%), and Digital Experience subscription revenue $5.41B (up 11%).

• Total Adobe Annualized Recurring Revenue (ARR) grew to $25.20B, with over one-third influenced by AI.

• Nearly $12B in share repurchases executed, reducing shares outstanding by over 6%.

• Strategic focus on embedding AI across all product lines, responsible AI ethics, and expanding partnerships with leading tech companies.

Voting matters and shareholder proposals

• Election of eleven directors for one-year terms.

• Approval of the 2019 Equity Incentive Plan amendment to increase share reserve by 12 million shares.

• Ratification of KPMG LLP as independent auditor for fiscal year ending November 27, 2026.

• Advisory vote on executive compensation (say-on-pay).

• Four shareholder proposals: vote on golden parachutes, board matrix disclosure, report on civil liberties in digital services, and retirement plan climate risk—Board recommends voting against all.

Board of directors and corporate governance

• Board consists of 11 members, 91% independent, with diverse skills in AI, finance, global leadership, and technology.

• Strong governance practices: annual director elections, majority vote standard, proxy access, and above-market stock ownership requirements.

• Regular board and committee evaluations, robust stockholder engagement, and independent lead director.