Dolby Laboratories, Inc. — Director's Dealing 2011

Feb 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2011-02-02

Reporting Person: Dolby David (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-02	Class A Common Stock	A	13275	—	Acquired	13946	Direct

Footnotes

F1: Award represents a total of 13,275 restricted stock units granted under the terms of the Issuer's 2005 Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/2 of the total number of units shall vest on the earlier of (1) the first anniversary of February 2, 2011 or (2) the date immediately preceding the date of the next annual meeting of stockholders occurring after February 2, 2011, and the remaining 1/2 of the total number of units shall vest on the earlier of (1) the second anniversary of February 2, 2011 or (2) the date immediately preceding the date of the second annual meeting of stockholders occurring after February 2, 2011. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

F2: Shares held by the reporting person following the reported transactions, includes 13,805 shares of Class A Common Stock underlying restricted stock units, which are subject to forfeiture until they vest.