John Couling - Feb 8, 2024 Form 4/A 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/A
Date filed
2/12/2024, 09:24 PM
Date Of Original Report
Feb 12, 2024
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 $2,149,000 +50,000 +46.07% $42.98 158,519 Feb 8, 2024 Direct F1, F2
transaction DLB Class A Common Stock -Sell -$4,000,000 -50,000 -31.54% $80.00 108,519 Feb 8, 2024 Direct F1, F2
transaction DLB Class A Common Stock +Options Exercise $534,671 +12,440 +11.46% $42.98 120,959 Feb 9, 2024 Direct F1, F2
transaction DLB Class A Common Stock +Options Exercise $1,316,198 +21,120 +17.46% $62.32 142,079 Feb 9, 2024 Direct F1, F2
transaction DLB Class A Common Stock -Sell -$2,711,896 -33,560 -23.62% $80.81 108,519 Feb 9, 2024 Direct F1, F2, 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 -50,000 -80.08% $0.00 12,440 Feb 8, 2024 Class A Common Stock 50,000 $42.98 Direct F1, F4
transaction DLB Employee Stock Option (Right to Buy) -Options Exercise $0 -12,440 -100% $0.00 0 Feb 9, 2024 Class A Common Stock 12,440 $42.98 Direct F1, F4
transaction DLB Employee Stock Option (Right to Buy) -Options Exercise $0 -21,120 -100% $0.00 0 Feb 9, 2024 Class A Common Stock 21,120 $62.32 Direct F1, F5

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 The original Form 4 did not report that option exercises and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 21, 2023.
F2 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.
F3 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.
F4 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.
F5 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.