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Dolby Laboratories, Inc. Director's Dealing 2011

Feb 4, 2011

30828_dirs_2011-02-04_76a0ebdc-7be0-49e4-9ea8-1b8851fd6729.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

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

Reporting Person: Dolby David (Director)

Holdings (Non-Derivative)

Security Shares Ownership
Class A Common Stock 671 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Option (Right to Buy) $45.85 2018-06-16 Class A Common Stock (2000) Direct
Stock Option (Right to Buy) $51.19 2020-02-08 Class A Common Stock (480) Direct
Stock Option (Right to Buy) $66.63 2020-12-15 Class A Common Stock (675) Direct
Class B Common Stock $0 Class A Common Stock (1810165) Indirect

Footnotes

F1: Shares held by the reporting person following the reported transactions, includes 530 shares of Class A Common Stock underlying restricted stock units, which are subject to forfeiture until they vest.

F2: This option was granted for a total of 2,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of June 16, 2008, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.

F3: This option was granted for a total of 480 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of February 8, 2010, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.

F4: This option was granted for a total of 675 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of December 15, 2010, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.

F5: Shares of Class B Common Stock are convertible at any time at the option of the holder into shares of Class A Common Stock on a 1-for-1 basis.

F6: Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Ray Dolby, as Trustee of the Ray Dolby 2002 Trust B dated April 19, 2002, voting power of which is held by the reporting person, as Special Trustee of the Ray Dolby 2002 Trust B dated April 19, 2002. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.