Dolby Laboratories, Inc. — Director's Dealing 2015

Jan 23, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2015-01-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-20	Class A Common Stock	F	1767	$41.96	Disposed	63760	Direct
2015-01-22	Class A Common Stock	S	400	$37.7075	Disposed	63360	Direct
2015-01-22	Class A Common Stock	S	795	$38.9947	Disposed	62565	Direct
2015-01-22	Class A Common Stock	S	96	$39.93	Disposed	62469	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 54,267 restricted stock units, which are subject to forfeiture until they vest.

F3: This transaction was executed in multiple trades at prices ranging from $37.37 to $38.20. 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.

F4: This transaction was executed in multiple trades at prices ranging from $38.70 to $39.35. 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.