Mark Andrew Sherman - May 28, 2024 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
EVP, Gen. Counsel & Secretary
Signature
/s/ Daniel Rodriguez as Attorney-in-Fact for Mark Andrew Sherman
Stock symbol
DLB
Transactions as of
May 28, 2024
Transactions value $
-$57,257
Form type
4
Date filed
5/30/2024, 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 $125K +2K +3.41% $62.32 60.6K May 28, 2024 Direct F1, F2
transaction DLB Class A Common Stock Sale -$182K -2.28K -3.77% $79.62 58.3K May 28, 2024 Direct 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 -2K -100% $0.00* 0 May 28, 2024 Class A Common Stock 2K $62.32 Direct F3
* 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 include 285 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2024.
F2 Shares held following the reported transactions include 41,398 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
F3 This performance-based stock option award was granted for a total of 28,000 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 26,880 shares. The option exercised in this transaction was fully vested and exercisable as of the transaction date.