Dolby Laboratories, Inc. — Director's Dealing 2020

Feb 6, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2020-02-04

Reporting Person: GOTCHER PETER C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-04	Class A Common Stock	A	3627	$0.00	Acquired	46272	Direct
2020-02-04	Class A Common Stock	M	13857	$46.24	Acquired	60129	Direct
2020-02-04	Class A Common Stock	S	13857	$70.9352	Disposed	46272	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-04	Stock Option (right to buy)	$46.24	M	13857	Disposed	2021-02-15	Class A Common Stock (13857)	Direct

Footnotes

F1: Award represents a total of 3,627 restricted stock units granted under the terms of the Issuer's 2020 Stock Plan. Each unit represents a
contingent right to receive one share of the Issuer's Class A Common Stock upon vesting, which will occur on the earlier of (i) the first anniversary of the date of grant or (ii) the date immediately preceding the date of Issuer's 2021 annual meeting of stockholders, provided that, in either case, the Reporting Person continues to serve as a member of the Issuer's board of directors on such date.

F2: Shares held following the reported transactions include 3,627 restricted stock units, which are subject to forfeiture until they vest.

F3: This transaction was executed in multiple trades at prices ranging from $70.91 to $71.05. 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 option was granted for a total of 13,857 shares of Class A Common Stock. 1/2 of the total number of shares issuable under the option vested on the grant date, February 15, 2011, and the balance of the shares vested on the first anniversary of the grant date.