Todd Pendleton - Feb 28, 2024 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
SVP, Chief Marketing Officer
Signature
/s/ Daniel Rodriguez as Attorney-in-Fact for Todd Pendleton
Stock symbol
DLB
Transactions as of
Feb 28, 2024
Transactions value $
-$1,147,801
Form type
4
Date filed
3/1/2024, 04:30 PM
Previous filing
Dec 19, 2023
Next filing
Dec 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $604K +8.5K +17.68% $71.07 56.6K Feb 28, 2024 Direct F1
transaction DLB Class A Common Stock Options Exercise $241K +3.52K +6.23% $68.40 60.1K Feb 28, 2024 Direct F1
transaction DLB Class A Common Stock Sale -$1.99M -24.4K -40.6% $81.69 35.7K Feb 28, 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 -8.5K -29.16% $0.00 20.6K Feb 28, 2024 Class A Common Stock 8.5K $71.07 Direct F3
transaction DLB Employee Stock Option (Right to Buy) Options Exercise $0 -3.52K -100% $0.00* 0 Feb 28, 2024 Class A Common Stock 3.52K $68.40 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares held following the reported transactions include 35,694 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 $81.65 to $81.78, 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 29,143 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 15, 2022, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.
F4 This option was granted for a total of 42,275 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.