Dolby Laboratories, Inc. — Director's Dealing 2012

Aug 8, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2012-08-07

Reporting Person: Dolby Ray (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-07	Class A Common Stock	C	10000	—	Acquired	10000	Indirect
2012-08-07	Class A Common Stock	C	1000	—	Acquired	1000	Indirect
2012-08-07	Class A Common Stock	C	1000	—	Acquired	1000	Indirect
2012-08-07	Class A Common Stock	S	3111	$32.3156	Disposed	6889	Indirect
2012-08-07	Class A Common Stock	S	1322	$33.2050	Disposed	5567	Indirect
2012-08-07	Class A Common Stock	S	5567	$34.0170	Disposed	0	Indirect
2012-08-07	Class A Common Stock	S	1000	$31.75	Disposed	0	Indirect
2012-08-07	Class A Common Stock	S	1000	$31.75	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-07	Class B Common Stock	$	C	10000	Disposed		Class A Common Stock (10000)	Indirect
2012-08-07	Class B Common Stock	$	C	1000	Disposed		Class A Common Stock (1000)	Indirect
2012-08-07	Class B Common Stock	$	C	1000	Disposed		Class A Common Stock (1000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	100	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock ()	43429670	Indirect
Class B Common Stock	$		Class A Common Stock ()	1810165	Indirect

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: 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.

F3: 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 and Dagmar Dolby, as Trustees of the Ray Dolby 2002 Trust A dated April 19, 2002, voting power of which is held by Thomas E. Dolby, son of Ray Dolby, as Special Trustee of the Ray Dolby 2002 Trust A dated April 19, 2002. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

F4: Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record Ray Dolby and Dagmar Dolby, as Trustees of the Ray Dolby 2011 Trust A, dated December 14, 2011. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

F5: Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record Ray Dolby and Dagmar Dolby, as Trustees of the Ray Dolby 2011 Trust B, dated December 14, 2011. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

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 and Dagmar Dolby as Trustees of the Ray Dolby Trust under the Dolby Family Trust instrument, dated May 7, 1999. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

F7: 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 and Dagmar Dolby, as Trustees of the Ray Dolby 2002 Trust B dated April 19, 2002, voting power of which is held by David E. Dolby, son of Ray Dolby, 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.

F8: This transaction was executed in multiple trades at prices ranging from $31.75 to $32.71. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the Securites and Exchange Commission 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.

F9: This transaction was executed in multiple trades at prices ranging from $32.83 to $33.65. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the Securites and Exchange Commission 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.

F10: This transaction was executed in multiple trades at prices ranging from $33.76 to $34.20. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the Securites and Exchange Commission 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.