Dolby Laboratories, Inc. — Director's Dealing 2021

Feb 23, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2021-02-19

Reporting Person: Pendleton Todd (SVP, Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-19	Class A Common Stock	M	2250	$64.60	Acquired	37512	Direct
2021-02-19	Class A Common Stock	S	2250	$94.00	Disposed	35262	Direct
2021-02-19	Class A Common Stock	M	7813	$62.43	Acquired	43075	Direct
2021-02-19	Class A Common Stock	S	7813	$94.1061	Disposed	35262	Direct
2021-02-19	Class A Common Stock	M	2100	$68.40	Acquired	37362	Direct
2021-02-19	Class A Common Stock	S	2100	$94.0061	Disposed	35262	Direct
2021-02-19	Class A Common Stock	S	2306	$94.1261	Disposed	32956	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-19	Employee Stock Option (right to buy)	$64.60	M	2250	Disposed	2028-12-17	Class A Common Stock (2250)	Direct
2021-02-19	Employee Stock Option (right to buy)	$62.43	M	7813	Disposed	2028-07-16	Class A Common Stock (7813)	Direct
2021-02-19	Employee Stock Option (right to buy)	$68.40	M	2100	Disposed	2029-12-16	Class A Common Stock (2100)	Direct

Footnotes

F1: Shares held following the reported transactions include 32,956 restricted stock units, which are subject to forfeiture until they vest

F2: The shares were sold in multiple transactions at prices ranging from $94.02 to $94.385, 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 $94.00 to $94.02, 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 option was granted for a total of 36,000 shares of Class A Common Stock. 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.

F5: This option was granted for a total of 125,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of July 16, 2018, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter.

F6: This option was granted for a total of 42,275 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 16, 2019, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.