Kevin J. Yeaman - 13 Feb 2023 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
President and CEO, Director
Signature
/s/ Daniel Rodriguez, as Attorney-in-Fact for Kevin Yeaman
Issuer symbol
DLB
Transactions as of
13 Feb 2023
Net transactions value
-$1,169,289
Form type
4
Filing time
15 Feb 2023, 17:41:12 UTC
Previous filing
19 Dec 2022
Next filing
16 Mar 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 $1,400,490 +30,780 +59% $45.50 82,659 14 Feb 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
transaction DLB Class A Common Stock Sale $1,443,706 -17,336 -21% $83.28 65,323 14 Feb 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F1
transaction DLB Class A Common Stock Sale $1,126,073 -13,444 -21% $83.76 51,879 14 Feb 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F2
holding DLB Class A Common Stock 119,557 13 Feb 2023 Direct F3

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) Gift $0 -98,200 -100% $0.000000* 0 13 Feb 2023 Class A Common Stock 98,200 $71.07 Direct F4, F5
transaction DLB Employee Stock Option (Right to Buy) Gift $0 +98,200 $0.000000 98,200 13 Feb 2023 Class A Common Stock 98,200 $71.07 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F4, F5
transaction DLB Employee Stock Option (Right to Buy) Options Exercise $0 -30,780 -33% $0.000000 61,559 14 Feb 2023 Class A Common Stock 30,780 $45.50 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were sold in multiple transactions at prices ranging from $82.67 to $83.66. 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.
F2 The shares were sold in multiple transactions at prices ranging from $83.67 to $83.94. 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 Shares held following the reported transactions include 119,557 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
F4 Effective February 13, 2023 the Reporting Person transferred this option to a revocable trust for no consideration, for estate planning purposes.
F5 This option was granted for a total of 98,200 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.
F6 This performance-based stock option award was granted for a total of 97,199 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 92,339 shares.

Remarks:

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