Kevin Yeaman - Jan 17, 2024 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
President and CEO, Director
Signature
/s/ Daniel Rodriguez as Attorney-in-Fact for Kevin Yeaman
Stock symbol
DLB
Transactions as of
Jan 17, 2024
Transactions value $
-$343,838
Form type
4
Date filed
1/19/2024, 04:24 PM
Previous filing
Dec 19, 2023
Next filing
Feb 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $10.6K +246 +0.29% $42.98 84K Jan 17, 2024 By a trust F1
transaction DLB Class A Common Stock Options Exercise $400K +8.78K +10.46% $45.50 92.8K Jan 17, 2024 By a trust F1
transaction DLB Class A Common Stock Sale -$754K -9.03K -9.74% $83.51 83.7K Jan 17, 2024 By a trust F1, F2
holding DLB Class A Common Stock 120K Jan 17, 2024 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DLB Employee Stock Option (Right to Buy) Options Exercise $0 -246 -100% $0.00* 0 Jan 17, 2024 Class A Common Stock 246 $42.98 By a trust F1, F4
transaction DLB Employee Stock Option (Right to Buy) Options Exercise $0 -8.78K -4.52% $0.00 186K Jan 17, 2024 Class A Common Stock 8.78K $45.50 By a trust F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
F2 The shares were sold in multiple transactions at prices ranging from $83.34 to $83.92, 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 Shares held following the reported transactions include 120,320 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
F4 This option was granted for a total of 291,598 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 194,399 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.

Remarks:

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 28, 2022 which was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) in effect at the time of adoption.