Dolby Laboratories, Inc. — Director's Dealing 2016

Aug 19, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2016-08-16

Reporting Person: YEAMAN KEVIN J (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-16	Performance-Based Stock Option (Right to Buy)	$33.15	G	97199	Disposed	2022-12-15	Class A Common Stock (97199)	Direct
2016-08-16	Performance-Based Stock Option (Right to Buy)	$33.15	G	97199	Acquired	2022-12-15	Class A Common Stock (97199)	Indirect
2016-08-16	Employee Stock Option (Right to Buy)	$33.15	G	194399	Disposed	2025-12-15	Class A Common Stock (194399)	Direct
2016-08-16	Employee Stock Option (Right to Buy)	$33.15	G	194399	Acquired	2025-12-15	Class A Common Stock (194399)	Indirect

Footnotes

F1: Effective August 16, 2015, the Reporting Person transferred this option as a gift to a revocable trust.

F2: The vesting of this performance-based stock option ("PSO") award is dependent upon achievement of performance criteria measured during a three-year performance period beginning on December 15, 2015 and ending December 15, 2018. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 125% of the target award amount based on total shareholder return at the end of the three-year performance period. The actual PSO award earned shall vest immediately upon certification by the Company's Compensation Committee of the achievement of the performance criteria, following the end of the three-year performance period.

F3: This option was granted for a total of 194,399 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, 2015, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.