Dolby Laboratories, Inc. — Director's Dealing 2010

Feb 26, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2010-02-25

Reporting Person: JASPER N WILLIAM JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-25	Class A Common Stock	C	20000	—	Acquired	20000	Indirect
2010-02-25	Class A Common Stock	S	20000	$51.42	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-25	Class B Common Stock	$0	C	20000	Disposed		Class A Common Stock (20000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	32744	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$0		Class A Common Stock (20000)	20000	Indirect
Class B Common Stock	$0		Class A Common Stock (50000)	50000	Direct

Footnotes

F1: Each share of Class A Common Stock issued upon conversion of one share of Class B Common Stock at the election of the reporting person.

F2: This transaction was executed in multiple trades at prices ranging from $51.1773 to $51.81. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.

F3: Shares held following the reported transactions, but none of the shares reported as sold, include 27,500 restricted stock units, which are subject to forfeiture until they vest.

F4: Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.