Dolby Laboratories, Inc. — Director's Dealing 2014

Dec 17, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2014-12-15

Reporting Person: ROCKWELL MICHAEL J (EVP, Advanced Technology Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-15	Class A Common Stock	A	15858	—	Acquired	124927	Direct
2014-12-15	Class A Common Stock	F	5428	$42.98	Disposed	119499	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-15	Employee Stock Option (Right to Buy)	$44.14	A	99337	Acquired	2024-12-15	Class A Common Stock (99337)	Direct

Footnotes

F1: Shares held following the reported transactions include 106,419 restricted stock units, which are subject to forfeiture until they vest.

F2: Award represents a total of 15,858 restricted stock units granted under the terms of the Issuer's 2005 Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/4 of the total number of units shall vest on each anniversary of December 15, 2014. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

F3: This option was granted for a total of 99,337 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, 2014, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.

F4: In accordance with Rule 16b-3, shares reported as disposed of were withheld by the Issuer and not issued to the reporting person in order to cover withholding taxes incident to the vesting of restricted stock units.

F5: Shares held following the reported transactions include 96,019 restricted stock units, which are subject to forfeiture until they vest.