Dolby Laboratories, Inc. — Director's Dealing 2020

Feb 11, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2020-02-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-06	Class A Common Stock	M	50000	$33.15	Acquired	82895	Indirect
2020-02-06	Class A Common Stock	S	50000	$71.9973	Disposed	32895	Indirect
2020-02-07	Class A Common Stock	M	5000	$33.15	Acquired	37895	Indirect
2020-02-07	Class A Common Stock	S	5000	$71.0832	Disposed	32895	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-06	Employee Stock Option (right to buy)	$33.15	M	50000	Disposed	2022-12-15	Class A Common Stock (50000)	Indirect
2020-02-07	Employee Stock Option (right to buy)	$33.15	M	5000	Disposed	2022-12-15	Class A Common Stock (5000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	107388	Direct

Footnotes

F1: The shares were sold in multiple transactions at prices ranging from $71.66 to $72.25, inclusive. The price reported above reflects the weighted average sale 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: The shares were sold in multiple transactions at prices ranging from $71.01 to $71.31, inclusive. The price reported above reflects the weighted average sale 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: Shares held following the reported transactions include 107,388 restricted stock units, which are subject to forfeiture until they vest.

F4: This performance-based stock option award was granted for a total of 97,199 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 121,498 shares.