Dolby Laboratories, Inc. — Director's Dealing 2023

Feb 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2023-02-22

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-22	Class A Common Stock	M	5250	$64.60	Acquired	54145	Direct
2023-02-22	Class A Common Stock	M	5209	$62.43	Acquired	59354	Direct
2023-02-22	Class A Common Stock	M	7927	$68.40	Acquired	67281	Direct
2023-02-22	Class A Common Stock	S	28701	$82.3231	Disposed	38580	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-22	Employee Stock Option (right to buy)	$64.60	M	5250	Disposed	2028-12-17	Class A Common Stock (5250)	Direct
2023-02-22	Employee Stock Option (right to buy)	$62.43	M	5209	Disposed	2028-07-16	Class A Common Stock (5209)	Direct
2023-02-22	Employee Stock Option (right to buy)	$68.40	M	7927	Disposed	2029-12-16	Class A Common Stock (7927)	Direct

Footnotes

F1: Shares held following the reported transactions include 34,670 restricted stock units, which are subject to forfeiture until they vest

F2: The shares were sold in multiple transactions at prices ranging from $81.95 to $82.71. 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: This option was granted for a total of 36,000 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.

F4: This option was granted for a total of 125,000 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.

F5: This option was granted for a total of 42,275 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.