Todd Pendleton - 28 Feb 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
Issuer symbol: DLB
Transactions as of: 28 Feb 2024
Net transactions value: -$1,147,801
Form type: 4
Filing time: 01 Mar 2024, 16:30:09 UTC
Previous filing: 19 Dec 2023
Next filing: 18 Dec 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DLB	Class A Common Stock	Options Exercise	$604,024	+8,499	+18%	$71.07	56,566	28 Feb 2024	Direct	F1
transaction	DLB	Class A Common Stock	Options Exercise	$240,973	+3,523	+6.2%	$68.40	60,089	28 Feb 2024	Direct	F1
transaction	DLB	Class A Common Stock	Sale	$1,992,798	-24,395	-41%	$81.69	35,694	28 Feb 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	-8,499	-29%	$0.000000	20,644	28 Feb 2024	Class A Common Stock	8,499	$71.07	Direct	F3
transaction	DLB	Employee Stock Option (Right to Buy)	Options Exercise	$0	-3,523	-100%	$0.000000^*	0	28 Feb 2024	Class A Common Stock	3,523	$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.