Dolby Laboratories, Inc. — Director's Dealing 2021

Aug 18, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2021-08-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-08-16	Class A Common Stock	M	17280	$62.32	Acquired	75125.826	Direct
2021-08-16	Class A Common Stock	S	17280	$101.0515	Disposed	57845.826	Direct
2021-08-16	Class A Common Stock	M	1125	$64.60	Acquired	58970.826	Direct
2021-08-16	Class A Common Stock	S	1125	$101.8927	Disposed	57845.826	Direct
2021-08-16	Class A Common Stock	M	6750	$62.32	Acquired	64595.826	Direct
2021-08-16	Class A Common Stock	S	6750	$101.8539	Disposed	57845.826	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-08-16	Employee Stock Option (right to buy)	$62.32	M	17280	Disposed	2024-12-15	Class A Common Stock (17280)	Direct
2021-08-16	Employee Stock Option (right to buy)	$64.60	M	1125	Disposed	2028-12-17	Class A Common Stock (1125)	Direct
2021-08-16	Employee Stock Option (right to buy)	$62.32	M	6750	Disposed	2027-12-15	Class A Common Stock (6750)	Direct

Footnotes

F1: Shares held following the reported transactions include 2,250 restricted stock units, which are subject to forfeiture until they vest.

F2: The shares were sold in multiple transactions at prices ranging from $101.011 to $101.22, 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: The shares were sold in multiple transactions at prices ranging from $101.89 to $101.90, 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.

F4: This transaction was executed in multiple trades at prices ranging from $101.83 to $101.89. 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 performance-based stock option award was granted for a total of 18,000 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 16, 2020 was at 96% of target, or 17,280 shares

F6: This option was granted for a total of 27,000 shares of Class A Common. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 17, 2018, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter.

F7: This option was granted for a total of 36,000 shares of Class A Common. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 15, 2017, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter.