John Couling - Feb 8, 2024 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
SVP, Entertainment
Signature
/s/ Daniel Rodriguez as Attorney-in-Fact for John Couling
Stock symbol
DLB
Transactions as of
Feb 8, 2024
Transactions value $
-$2,712,027
Form type
4
Date filed
2/12/2024, 04:45 PM
Previous filing
Dec 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $2.15M +50K +46.07% $42.98 159K Feb 8, 2024 Direct F1
transaction DLB Class A Common Stock Sale -$4M -50K -31.54% $80.00 109K Feb 8, 2024 Direct F1
transaction DLB Class A Common Stock Options Exercise $535K +12.4K +11.46% $42.98 121K Feb 9, 2024 Direct F1
transaction DLB Class A Common Stock Options Exercise $1.32M +21.1K +17.46% $62.32 142K Feb 9, 2024 Direct F1
transaction DLB Class A Common Stock Sale -$2.71M -33.6K -23.62% $80.81 109K Feb 9, 2024 Direct F1, F2

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 -50K -80.08% $0.00 12.4K Feb 8, 2024 Class A Common Stock 50K $42.98 Direct F3
transaction DLB Employee Stock Option (Right to Buy) Options Exercise $0 -12.4K -100% $0.00* 0 Feb 9, 2024 Class A Common Stock 12.4K $42.98 Direct F3
transaction DLB Employee Stock Option (Right to Buy) Options Exercise $0 -21.1K -100% $0.00* 0 Feb 9, 2024 Class A Common Stock 21.1K $62.32 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares held following the reported transactions include 45,029 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
F2 The shares were sold in multiple transactions at prices ranging from $80.45 to $81.07, 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 granted for a total of 62,440 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.
F4 This performance-based stock option award was granted for a total of 23,000 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, 2020 was at 96% of target, or 21,120. shares.