Dolby Laboratories, Inc. — Director's Dealing 2020

Feb 14, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2020-02-12

Reporting Person: Forshay Steven E (SVP, Advanced Technology Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-12	Class A Common Stock	M	10000	$33.15	Acquired	71317.826	Direct
2020-02-12	Class A Common Stock	S	10000	$71.7515	Disposed	61317.826	Direct
2020-02-14	Class A Common Stock	M	9959	$33.15	Acquired	71276.826	Direct
2020-02-14	Class A Common Stock	S	9959	$72.10	Disposed	61317.826	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-12	Employee Stock Option (right to buy)	$33.15	M	10000	Disposed	2022-12-15	Class A Common Stock (10000)	Direct
2020-02-14	Employee Stock Option (right to buy)	$33.15	M	9959	Disposed	2022-12-15	Class A Common Stock (9959)	Direct

Footnotes

F1: Shares held following the reported transactions include 9,250 restricted stock units, which are subject to forfeiture until they vest.

F2: This transaction was executed in multiple trades at prices ranging from $71.75 to $71.80. 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 performance-based stock option award was granted for a total of 23,000 shares of Class A Common Stock at target. The number of shares actually earned and vested upon the achievement of total shareholder return performance criteria measured during a three-year performance period ended on December 15, 2018 was at 125% of target, or 28,750 shares