Dolby Laboratories, Inc. — Director's Dealing 2013

Oct 21, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2013-10-17

Reporting Person: Dolby Dagmar (10% Owner)
Reporting Person: Ray Dolby Trust under the Dolby Family Trust instrument, dated May 7, 1999 (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-10-17	Class A Common Stock	C	20000	—	Acquired	20000	Indirect
2013-10-17	Class A Common Stock	S	20000	$35.07	Disposed	0	Indirect
2013-10-17	Class A Common Stock	C	7500	—	Acquired	7500	Indirect
2013-10-17	Class A Common Stock	S	7500	$35	Disposed	0	Indirect
2013-10-17	Class A Common Stock	C	7500	—	Acquired	7500	Indirect
2013-10-17	Class A Common Stock	S	7500	$35	Disposed	0	Indirect
2013-10-18	Class A Common Stock	C	20000	—	Acquired	20000	Indirect
2013-10-18	Class A Common Stock	S	20000	$35.1912	Disposed	0	Indirect
2013-10-18	Class A Common Stock	C	7500	—	Acquired	7500	Indirect
2013-10-18	Class A Common Stock	S	7500	$35.09	Disposed	0	Indirect
2013-10-18	Class A Common Stock	C	7500	—	Acquired	7500	Indirect
2013-10-18	Class A Common Stock	S	7500	$35.09	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-10-17	Class B Common Stock	$	C	20000	Disposed		Class A Common Stock (20000)	Indirect
2013-10-17	Class B Common Stock	$	C	7500	Disposed		Class A Common Stock (7500)	Indirect
2013-10-17	Class B Common Stock	$	C	7500	Disposed		Class A Common Stock (7500)	Indirect
2013-10-18	Class B Common Stock	$	C	20000	Disposed		Class A Common Stock (20000)	Indirect
2013-10-18	Class B Common Stock	$	C	7500	Disposed		Class A Common Stock (7500)	Indirect
2013-10-18	Class B Common Stock	$	C	7500	Disposed		Class A Common Stock (7500)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class B Common Stock	$		Class A Common Stock ()	4582600	Indirect
Class B Common Stock	$		Class A Common Stock ()	4582600	Indirect
Class B Common Stock	$		Class A Common Stock ()	2500000	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 (as converted or convertible into, as applicable, a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby Trust under the Dolby Family Trust instrument, dated May 7, 1999 (the "Ray Dolby Trust"). This report is filed jointly by Dagmar Dolby and the Ray Dolby Trust with respect to securities held by the Ray Dolby Trust. The reporting persons disclaim beneficial ownership of these securities except to the extent of their respective pecuniary interest therein.

F4: Reflects shares of Class B Common Stock (as converted or convertible into, as applicable, a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2002 Trust A dated April 19, 2002 (the "Ray Dolby 2002 Trust A"), voting power of which is held by Thomas E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2002 Trust A. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2002 Trust A. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

F5: Reflects shares of Class B Common Stock (as converted or convertible into, as applicable, a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2002 Trust B dated April 19, 2002 (the "Ray Dolby 2002 Trust B"), voting power of which is held by David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2002 Trust B. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2002 Trust B. The reporting person disclaims beneficial ownership of these securities except to the extent of her 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 Dagmar Dolby as the Trustee of the Ray Dolby 2011 Trust A, dated December 14, 2011 (the "Ray Dolby 2011 Trust A"), voting power of which is held by Thomas E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2011 Trust A. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2011 Trust A. The reporting person disclaims beneficial ownership of these securities except to the extent of her 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 Dagmar Dolby as the Trustee of the Ray Dolby 2011 Trust B, dated December 14, 2011 (the "Ray Dolby 2011 Trust B"), voting power of which is held by David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2011 Trust B. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2011 Trust B. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

F8: Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dolby Holdings II LLC, a limited liability company (the "Family LLC"), investment power of which is held by Dagmar Dolby, manager of the Family LLC, and voting power of which is held by (i) Thomas E. Dolby, son of Dagmar Dolby and a special manager of the Family LLC, with respect to 50% of such shares, and (ii) David E. Dolby, son of Dagmar Dolby and a special manager of the Family LLC, with respect to 50% of such shares. This report is filed by Dagmar Dolby with respect to the securities held by the Family LLC. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

F9: This transaction was executed in multiple trades at prices ranging from $35 to $35.20. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities 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 $35.035 to $35.34. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities 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.