Dolby Laboratories, Inc. — Director's Dealing 2012

Aug 14, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2012-08-10

Reporting Person: ROCKWELL MICHAEL J (EVP, Products and Technology)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-10	Class A Common Stock	A	6250	—	Acquired	61642	Direct
2012-08-10	Class A Common Stock	A	20000	—	Acquired	81642	Direct
2012-08-10	Class A Common Stock	A	15277	—	Acquired	96919	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-10	Employee Stock Option (Right to Buy)	$47.42	D	20000	Disposed	2017-11-15	Class A Common Stock (20000)	Direct
2012-08-10	Employee Stock Option (Right to Buy)	$51.19	D	66000	Disposed	2020-02-08	Class A Common Stock (66000)	Direct
2012-08-10	Employee Stock Option (Right to Buy)	$66.63	D	55000	Disposed	2020-12-15	Class A Common Stock (55000)	Direct

Footnotes

F1: Shares held following the reported transactions include 96,762 restricted stock units, which are subject to forfeiture until they vest.

F2: On August 10, 2012, the Issuer cancelled, pursuant to the Issuer's option exchange program, an option granted to the reporting person on November 15, 2007. In exchange for the option the reporting person received 6,250 restricted stock units.

F3: Award represents a total of 6,250 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 one year from August 10, 2012, the grant date, and the remaining 1/2 of the total number of units shall vest on the date that is two years from the grant date. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

F4: This option was granted for a total of 80,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on each anniversary of November 15, 2007, the vesting commencement date. On August 10, 2012, the Issuer cancelled, pursuant to the Issuer's option exchange program, this option and in exchange for this option, the reporting person received 6,250 restricted stock units.

F5: On August 10, 2012, the Issuer cancelled, pursuant to the Issuer's option exchange program, an option granted to the reporting person on February 8, 2010. In exchange for the option, the reporting person received 20,000 restricted stock units.

F6: Award represents a total of 20,000 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 two years from August 10, 2012, the grant date, and the remaining 1/2 of the total number of units shall vest on the date that is three years from the grant date. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

F7: This option was granted for a total of 66,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of February 8, 2010, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter. On August 10, 2012, the Issuer cancelled, pursuant to the Issuer's option exchange program, this option and in exchange for this option, the reporting person received 20,000 restricted stock units.

F8: On August 10, 2012, the Issuer cancelled, pursuant to the Issuer's option exchange program, an option granted to the reporting person on December 15, 2010. In exchange for the option, the reporting person received 15,277 restricted stock units.

F9: Award represents a total of 15,277 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 three years from August 10, 2012, the grant date, and the remaining 1/2 of the total number of units shall vest on the date that is four years from the grant date. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

F10: 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 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. On August 10, 2012, the Issuer cancelled, pursuant to the Issuer's option exchange program, this option and in exchange for this option, the reporting person received 15,277 restricted stock units.