John D. Couling - 06 Feb 2023 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
SVP, Entertainment
Signature
/s/ Daniel Rodriguez, Attorney-in-Fact for John Couling
Issuer symbol
DLB
Transactions as of
06 Feb 2023
Net transactions value
-$3,908,892
Form type
4
Filing time
08 Feb 2023, 20:24:36 UTC
Previous filing
19 Dec 2022
Next filing
16 May 2023
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 $1,867,500 +50,000 +52% $37.35 146,245 06 Feb 2023 Direct F1
transaction DLB Class A Common Stock Sale $3,526,202 -41,738 -29% $84.48 104,507 06 Feb 2023 Direct F1, F2
transaction DLB Class A Common Stock Sale $704,253 -8,262 -7.9% $85.24 96,245 06 Feb 2023 Direct F1, F3
transaction DLB Class A Common Stock Options Exercise $565,965 +15,153 +16% $37.35 111,398 07 Feb 2023 Direct F1
transaction DLB Class A Common Stock Options Exercise $994,175 +21,850 +20% $45.50 133,248 07 Feb 2023 Direct F1
transaction DLB Class A Common Stock Sale $2,616,647 -31,202 -23% $83.86 102,046 07 Feb 2023 Direct F1, F4
transaction DLB Class A Common Stock Sale $489,431 -5,801 -5.7% $84.37 96,245 07 Feb 2023 Direct F1, F5

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 -50,000 -77% $0.000000 15,153 06 Feb 2023 Class A Common Stock 50,000 $37.35 Direct F6
transaction DLB Employee Stock Option (right to buy) Options Exercise $0 -15,153 -100% $0.000000* 0 07 Feb 2023 Class A Common Stock 15,153 $37.35 Direct F6
transaction DLB Employee Stock Option (right to buy) Options Exercise $0 -21,850 -100% $0.000000* 0 07 Feb 2023 Class A Common Stock 21,850 $45.50 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares held following the reported transactions include 43,636 restricted stock units, which are subject to forfeiture until they vest.
F2 This transaction was executed in multiple trades at prices ranging from $84.03 to $85.00. The price reported above reflects the weighted average 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 The shares were sold in multiple transactions at prices ranging from $85.04 to $85.91. 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.
F4 This transaction was executed in multiple trades at prices ranging from $83.26 to $84.25. The price reported above reflects the weighted average 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.
F5 This transaction was executed in multiple trades at prices ranging from $84.26 to $84.67. The price reported above reflects the weighted average 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.
F6 This option was granted for a total of 65,153 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.
F7 This performance-based stock option award was granted for a total of 23,000 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, 2019 was at 95% of target, or 21,850 shares.

Remarks:

The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan.