Dolby Laboratories, Inc. — Director's Dealing 2016

May 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2016-04-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-28	Class A Common Stock	M	26000	$25.26	Acquired	139103	Indirect
2016-04-28	Class A Common Stock	S	23900	$45.274	Disposed	115203	Indirect
2016-04-28	Class A Common Stock	S	2100	$46.4214	Disposed	113103	Indirect
2016-04-29	Class A Common Stock	M	25230	$25.26	Acquired	138333	Indirect
2016-04-29	Class A Common Stock	S	19866	$47.134	Disposed	118467	Indirect
2016-04-29	Class A Common Stock	S	5364	$47.4319	Disposed	113103	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-04-28	Employee Stock Option (right to buy)	$25.26	M	26000	Disposed	2016-11-14	Class A Common Stock (26000)	Indirect
2016-04-29	Employee Stock Option (right to buy)	$25.26	M	25230	Disposed	2016-11-14	Class A Common Stock (25230)	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $45 to $45.98. 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.

F2: This transaction was executed in multiple trades at prices ranging from $46 to $46.68. 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.

F3: This transaction was executed in multiple trades at prices ranging from $46.38 to $47.375. 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 $47.38 to $47.65. 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.

F5: This option was granted for a total of 65,230 shares of Class A Common Stock and became fully vested on November 14, 2010.