Mark Andrew Sherman - Jun 4, 2025 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
Jun 4, 2025
Transactions value $
-$156,287
Form type
4
Date filed
6/6/2025, 07:58 PM
Previous filing
Jun 3, 2025
Next filing
Dec 3, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
SHERMAN MARK ANDREW EVP, Gen. Counsel & Secretary C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET, SAN FRANCISCO /s/ Daniel Rodriguez as Attorney-in-Fact for Mark Andrew Sherman 2025-06-06 0001256708

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $969K +15K +24.04% $64.60 77.4K Jun 4, 2025 Direct F1
transaction DLB Class A Common Stock Sale -$1.13M -15K -19.38% $75.02 62.4K Jun 4, 2025 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 -15K -76.92% $0.00 4.5K Jun 4, 2025 Class A Common Stock 15K $64.60 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 held following the reported transactions include 45,470 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 $75.00 to $75.125, 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 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 17, 2021 was at 75% of target, or 19,500 shares.