Dolby Laboratories, Inc. — Director's Dealing 2023

Feb 8, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dolby Laboratories, Inc. (DLB)
CIK: 0001308547
Period of Report: 2023-02-03

Reporting Person: SHERMAN MARK ANDREW (EVP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-03	Class A Common Stock	M	12000	$45.50	Acquired	70787	Direct
2023-02-03	Class A Common Stock	S	12000	$85.00	Disposed	58787	Direct
2023-02-07	Class A Common Stock	S	2413	$83.6454	Disposed	56374	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-03	Employee Stock Option (right to buy)	$45.50	M	12000	Disposed	2026-12-15	Class A Common Stock (12000)	Direct

Footnotes

F1: Shares held following the reported transactions include 39,803 restricted stock units, which are subject to forfeiture until they vest

F2: The shares were sold in multiple transactions at prices ranging from $83.22 to $83.85, 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: This option was originally granted for a total of 52,000 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.