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Adobe co-founders Warnock and Geschke sell stock worth more than $16 million

JANUARY 22, 2004 — According to a report in the January 19, 2004 San Jose Mercury News, Adobe Systems co-founder John Warnock sold more than $14 million in company stock in December, marking the largest single insider sale of the San Jose software-maker's shares in 2003. Prices per share varied from $40.11 to $40.15.

Despite the selloff, which added to about $25 million worth of stock he sold last year — Warnock remains one of the company?s largest stockholders, Adobe spokesperson Holly Campbell told the Mercury News.

Adobe co-founder Charles Geschke also moved some of his Adobe stock in December, selling 59,755 shares on Dec. 23 at $40.04 each, for a total of $2.4 million.

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