Dolby Laboratories, Inc. — Director's Dealing 2018

May 18, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2018-05-17

Reporting Person: CHEW LEWIS (EVP & Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-17	Class A Common Stock	M	17000	$37.96	Acquired	103370	Direct
2018-05-17	Class A Common Stock	S	17000	$62.5789	Disposed	86370	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-17	Employee Stock Option (right to buy)	$37.96	M	17000	Disposed	2022-06-15	Class A Common Stock (17000)	Direct

Footnotes

F1: Shares held following the reported transactions include 36,533 restricted stock units, which are subject to forfeiture until they vest.

F2: This transaction was executed in multiple trades at prices ranging from $62.39 to $62.91. 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 option was granted for a total of 187,185 shares of Class A Common and became fully vested on June 15, 2016.