Both Adobe CEO Bruce Chizen and Executive Vice President of Worldwide Products Shantanu Narayen cashed in options and sold them off during a five-day period in late September, according to federal SEC filings. Chizen exercised 300,000 share options at $26.95, sold 278,000 off them the same day at $48.20, and pocketed $5.3 million. Narayen exercised 150,000 share options for the same price, selling 138,000 of them at $49.50, pocketing $2.8 million.

After the selloffs, Chizen now owns 43,858 shares, Narayen 32,058.

At the behest of Adobe’s board of directors executives have been encouraged to hold at least 25% of the shares they own for at least two years, until they meet targets of 4,000 shares for a director; 25,000 for a senior vice president; 50,000 shares for an executive vice president and the chief financial officer; and 150,000 for the chief executive. Shareholders defeated a proxy measure earlier this year that recommended higher stock retention rates for executives.