Dolby Laboratories, Inc. — Director's Dealing 2017

Dec 1, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2017-11-28

Reporting Person: Borchers Bob (SVP & Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-11-28	Class A Common Stock	M	50000	$41.31	Acquired	100101	Direct
2017-11-28	Class A Common Stock	S	50000	$62.7168	Disposed	50101	Direct
2017-11-29	Class A Common Stock	M	36276	$41.31	Acquired	86377	Direct
2017-11-29	Class A Common Stock	S	36276	$61.8107	Disposed	50101	Direct
2017-11-29	Class A Common Stock	M	13724	$42.98	Acquired	63825	Direct
2017-11-29	Class A Common Stock	S	13724	$61.8107	Disposed	50101	Direct
2017-11-30	Class A Common Stock	M	48361	$42.98	Acquired	98462	Direct
2017-11-30	Class A Common Stock	S	48361	$61.9276	Disposed	50101	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-11-28	Employee Stock Option (right to buy)	$41.31	M	50000	Disposed	2024-01-15	Class A Common Stock (50000)	Direct
2017-11-29	Employee Stock Option (right to buy)	$41.31	M	36276	Disposed	2024-01-15	Class A Common Stock (36276)	Direct
2017-11-29	Employee Stock Option (right to buy)	$42.98	M	13724	Disposed	2024-12-15	Class A Common Stock (13724)	Direct
2017-11-30	Employee Stock Option (right to buy)	$42.98	M	48361	Disposed	2024-12-15	Class A Common Stock (48361)	Direct

Footnotes

F1: Shares held following the reported transactions include 40,748 restricted stock units, which are subject to forfeiture until they vest.

F2: This transaction was executed in multiple trades at prices ranging from $62.55 to $62.85. 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 $61.75 to $61.85. 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 $61.90 to $62.10. 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 219,050 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of January 15, 2014, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.

F6: This option was granted for a total of 85,146 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 15, 2014, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.