Mark Andrew Sherman - 28 May 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
Issuer symbol
DLB
Transactions as of
28 May 2024
Net transactions value
-$57,257
Form type
4
Filing time
30 May 2024, 16:30:08 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 $124,515 +1,998 +3.4% $62.32 60,608 28 May 2024 Direct F1, F2
transaction DLB Class A Common Stock Sale $181,772 -2,283 -3.8% $79.62 58,325 28 May 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 -1,998 -100% $0.000000* 0 28 May 2024 Class A Common Stock 1,998 $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.