Dolby Laboratories, Inc. — Director's Dealing 2010

Nov 17, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2010-11-15

Reporting Person: Haidamus Ramzi (EVP, Sales and Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-15	Class A Common Stock	M	13750	$28.13	Disposed	47750	Direct
2010-11-15	Class A Common Stock	S	13750	$64.8834	Disposed	34000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-15	Employee Stock Option (Right to Buy)	$28.13	M	13750	Disposed	2016-11-14	Class A Common Stock (13750)	Direct

Footnotes

F1: Shares held following the reported transactions include 34,000 restricted stock units, which are subject to forfeiture until they vest.

F2: This transaction was executed in multiple trades at prices ranging from $64.4575 to $65.24. 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: This option was granted for a total of 55,000 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.