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: YEAMAN KEVIN J (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-10	Class A Common Stock	A	10937	—	Acquired	109086	Direct
2012-08-10	Class A Common Stock	A	40909	—	Acquired	149995	Direct
2012-08-10	Class A Common Stock	A	30555	—	Acquired	180550	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-10	Employee Stock Option (Right to Buy)	$48.15	D	35000	Disposed	2018-02-05	Class A Common Stock (35000)	Indirect
2012-08-10	Employee Stock Option (Right to Buy	$51.19	D	135000	Disposed	2020-02-08	Class A Common Stock (135000)	Indirect
2012-08-10	Employee Stock Option (Right to Buy	$66.63	D	110000	Disposed	2020-12-15	Class A Common Stock (110000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	19938	Indirect

Footnotes

F1: Shares held following the reported transactions include 179,426 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 February 5, 2008. In exchange for the option, the reporting person received 10,937 restricted stock units.

F3: Award represents a total of 10,937 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 35,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on each anniversary of February 5, 2008, 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 10,937 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 40,909 restricted stock units.

F6: Award represents a total of 40,909 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 135,000 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 40,909 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 30,555 restricted stock units.

F9: Award represents a total of 30,555 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 110,000 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 30,555 restricted stock units.