Dagmar Dolby - Nov 29, 2021 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
10%+ Owner
Signature
/s/ Daniel Rodriguez, Attorney-in-Fact
Stock symbol
DLB
Transactions as of
Nov 29, 2021
Transactions value $
$0
Form type
4
Date filed
11/30/2021, 08:14 PM
Previous filing
Jun 3, 2021
Next filing
May 15, 2024

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 Class B Common Stock Gift $0 -1.57M -52.43% $0.00 1.43M Nov 29, 2021 Class A Common Stock 1.57M By Trust F1, F2, F3
transaction DLB Class B Common Stock Gift $0 +1.57M +24.25% $0.00 8.06M Nov 29, 2021 Class A Common Stock 1.57M By Trust F1, F2, F4
transaction DLB Class B Common Stock Other -$122M -1.43M -100% $85.64 0 Nov 29, 2021 Class A Common Stock 1.43M By Trust F1, F3, F5, F6
transaction DLB Class B Common Stock Other $122M +1.43M +17.7% $85.64 9.49M Nov 29, 2021 Class A Common Stock 1.43M By Trust F1, F4, F5, F6
holding DLB Class B Common Stock 24.1M Nov 29, 2021 Class A Common Stock By Trust F1, F7
holding DLB Class B Common Stock 161K Nov 29, 2021 Class A Common Stock By Trust F1, F8
holding DLB Class B Common Stock 463K Nov 29, 2021 Class A Common Stock By Trust F1, F9
holding DLB Class B Common Stock 350K Nov 29, 2021 Class A Common Stock By LLC F1, F10
holding DLB Class B Common Stock 1.04M Nov 29, 2021 Class A Common Stock By LLC F1, F11
holding DLB Class B Common Stock 404K Nov 29, 2021 Class A Common Stock By Trust F1, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.
F2 On November 29, 2021, the Dagmar Dolby 2020 Trust BB-2 (as defined below), which is a grantor retained annuity trust, transferred 1,573,000 shares of Class B Common Stock to the Dagmar Dolby Trust (as defined below). Such share transfer was effected in satisfaction of the annuity payment requirements, and in accordance with the terms, of the Dagmar Dolby 2020-B Trust BB's trust instrument, and was a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. Applicable rules consider such a share transfer to be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as a result the reporting persons are voluntarily reporting such share transfer on this Form 4.
F3 Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby 2020 Trust BB-2, dated November 18, 2020 (the "Dagmar Dolby 2020 Trust BB-2"), voting power over which is held by David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby 2020 Trust BB-2. This report is filed by Dagmar Dolby with respect to the securities held by the Dagmar Dolby 2020 Trust BB-2. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
F4 Reflects shares of Class B Common Stock (as converted or convertible, as applicable, into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power over which is shared by the Trustee and David E. Dolby as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting persons disclaim beneficial ownership of these securities except to the extent of their respective pecuniary interest therein.
F5 On November 29, 2021, 1,427,000 shares of Class B Common Stock that were previously held indirectly by the Dagmar Dolby 2020 Trust BB-2 were transferred to the Dagmar Dolby Trust in exchange for assets of equal value. As such, these securities are beneficially owned by the Dagmar Dolby Trust.
F6 The shares exchanged from the Dagmar Dolby 2020 Trust BB-2 were valued at $85.635 per share, the mean of the high and low trading price for the Class A Common Stock on November 29, 2021, for such purpose.
F7 Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Marital Trust under the Dolby Family Trust instrument, dated May 7, 1999 (the "Marital Trust"), voting power over which is shared by the Trustee and David E. Dolby as Special Trustee of the Marital Trust. This report is filed by Dagmar Dolby with respect to the securities held by the Marital Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
F8 Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2002 Trust A, dated April 19, 2002 (the "Ray Dolby 2002 Trust A"), voting power over which is held by Thomas E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2002 Trust A. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2002 Trust A. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
F9 Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2002 Trust B, dated April 19, 2002 (the "Ray Dolby 2002 Trust B"), voting power over which is held by David E. Dolby as Special Trustee of the Ray Dolby 2002 Trust B. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2002 Trust B. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
F10 Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dolby Holdings III LLC, a limited liability company ("Dolby Holdings III"), investment power over which is held by Dagmar Dolby, the manager of Dolby Holdings III, and voting power over which is held by David E. Dolby, the Special Manager of Dolby Holdings III. This report is filed by Dagmar Dolby with respect to the securities held by Dolby Holdings III. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
F11 Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dolby Holdings II LLC, a limited liability company ("Dolby Holdings II"), investment power over which is held by Dagmar Dolby, manager of Dolby Holdings II, and voting power over which is held by (i) Thomas E. Dolby, a Special Manager of Dolby Holdings II, with respect to 50% of such shares, and (ii) David E. Dolby, a Special Manager of Dolby Holdings II, with respect to 50% of such shares. This report is filed by Dagmar Dolby with respect to the securities held by Dolby Holdings II. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
F12 Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby 2016 Trust B, dated March 23, 2016 (the "Dagmar Dolby 2016 Trust B"), voting power of which is held by David E. Dolby as Special Trustee of the Dagmar Dolby 2016 Trust B. This report is filed by Dagmar Dolby with respect to the securities held by the Dagmar Dolby 2016 Trust B. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.