Shriram Revankar - Dec 15, 2022 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
SVP, Advanced Technology Group
Signature
/s/ Daniel Rodriguez, Attorney-in-Fact for Shriram Revankar
Stock symbol
DLB
Transactions as of
Dec 15, 2022
Transactions value $
$0
Form type
4
Date filed
12/16/2022, 07:13 PM
Previous filing
May 17, 2022
Next filing
May 18, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Award $0 +10.6K +21.57% $0.00 59.5K Dec 15, 2022 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 Performance-Based Restricted Stock Unit Award $0 +5.28K $0.00 5.28K Dec 15, 2022 Class A Common Stock 5.28K Direct F3
transaction DLB Employee Stock Option (Right to Buy) Award $0 +19K $0.00 19K Dec 15, 2022 Class A Common Stock 19K $71.07 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Award represents a total of 10,557 restricted stock units granted under the terms of the Issuer's 2020 Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/4 of the total number of units shall vest on each anniversary of December 15, 2022. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.
F2 Shares held following the reported transactions include 59,493 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
F3 The vesting of this performance-based restricted stock unit ("PSU") award is dependent upon achievement of performance criteria measured during a three-year performance period beginning on December 15, 2022 and ending December 10, 2025. Each PSU represents a right to receive, upon vesting, one share of Class A common stock. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 200% of the target award amount based on achievement of annualized total shareholder return compared to the S&P Mid Cap 400 Index at the end of the three-year performance period. The actual PSU award earned shall vest immediately upon certification by the Company's Compensation Committee of the achievement of the performance criteria, following the end of the three-year performance period.
F4 This option was granted for a total of 19,006 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of December 15, 2022, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.