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NEW YORK (AP) -- A senior vice president of graphics and publishing software maker Adobe Systems Inc. exercised options for 77,083 shares of common stock, according to a Securities and Exchange Commission filing. In a Form 4 filed with the SEC Tuesday, Karen O. Cottle reported exercising the options Monday for $21.78 to $32.42 apiece, and selling 77,962 shares on the same day for $44 apiece. 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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