Dolby Laboratories, Inc. — Director's Dealing 2010

Apr 22, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2010-04-21

Reporting Person: Anderson Mark S (EVP, Gen. Coun. & Secrty.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-21	Class A Common Stock	M	2100	$48.15	Acquired	20933	Direct
2010-04-21	Class A Common Stock	S	2100	$60.00	Disposed	18833	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-04-21	Employee Stock Option (Right to Buy)	$48.15	M	2100	Disposed	2018-02-05	Class A Common Stock (2100)	Direct

Footnotes

F1: Shares held following the reported transactions include 18,833 restricted stock units, which are subject to forfeiture until they vest.

F2: This option was granted for a total of 27,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on each anniversary of February 5, 2008, the vesting commencement date.