Dolby Laboratories, Inc. — Director's Dealing 2010

Jan 27, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2010-01-25

Reporting Person: YEAMAN KEVIN J (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-01-25	Employee Stock Option (Right to Buy)	$28.13	G	60000	Disposed	2016-11-14	Class A Common Stock (60000)	Direct
2010-01-25	Employee Stock Option (Right to Buy)	$28.13	G	60000	Acquired	2016-11-14	Class A Common Stock (60000)	Indirect
2010-01-25	Employee Stock Option (Right to Buy)	$48.15	G	35000	Disposed	2018-02-05	Class A Common Stock (35000)	Direct
2010-01-25	Employee Stock Option (Right to Buy)	$48.15	G	35000	Acquired	2018-02-05	Class A Common Stock (35000)	Indirect
2010-01-25	Employee Stock Option (Right to Buy)	$31.91	G	121000	Disposed	2019-03-16	Class A Common Stock (121000)	Direct
2010-01-25	Employee Stock Option (Right to Buy)	$31.91	G	121000	Acquired	2019-03-16	Class A Common Stock (121000)	Indirect

Footnotes

F1: Effective January 25, 2010, the Reporting Person transferred these options as gifts to a revocable trust.

F2: This option was granted for a total of 60,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on each anniversary of November 14, 2006, the vesting commencement date.

F3: This option was granted for a total of 35,000 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.

F4: This option was granted for a total of 121,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of March 16, 2009, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.