Dolby Laboratories, Inc. — Director's Dealing 2014

Dec 19, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2014-12-16

Reporting Person: SHERMAN MARK ANDREW (EVP, GEN. COUN. & SECRTY)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-16	Class A Common Stock	F	1309	$42.49	Disposed	70834	Direct
2014-12-17	Class A Common Stock	S	1529	$42.4592	Disposed	69305	Direct
2014-12-18	Class A Common Stock	S	1086	$43.5404	Disposed	68219	Direct

Footnotes

F1: In accordance with Rule 16b-3, shares reported as disposed of were withheld by the Company and not issued to the reporting person in order to cover withholding taxes incident to the vesting of restricted stock units.

F2: Shares held following the reported transactions include 62,217 restricted stock units, which are subject to forfeiture until they vest.

F3: This transaction was executed in multiple trades at prices ranging from $42.02 to $43.11. 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.

F4: This transaction was executed in multiple trades at prices ranging from $43.41 to $43.68. 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.