Dolby Laboratories, Inc. — Director's Dealing 2023

Mar 16, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2023-03-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-14	Class A Common Stock	M	30780	$45.50	Acquired	82659	Indirect
2023-03-14	Class A Common Stock	S	26375	$81.0433	Disposed	56284	Indirect
2023-03-14	Class A Common Stock	S	4405	$81.5299	Disposed	51879	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-14	Employee Stock Option (Right to Buy)	$45.50	M	30780	Disposed	2023-12-15	Class A Common Stock (30780)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	119557	Direct

Footnotes

F1: The shares were sold in multiple transactions at prices ranging from $80.48 to $81.47. 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 $81.48 to $81.64. 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 119,557 shares of Class A common stock underlying 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, 2019 was at 95% of target, or 92,339 shares.