Todd Pendleton - 22 Feb 2023 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role: SVP, Chief Marketing Officer
Signature: /s/ Daniel Rodriguez, Attorney-in-Fact for Todd Pendleton
Issuer symbol: DLB
Transactions as of: 22 Feb 2023
Net transactions value: -$1,156,201
Form type: 4
Filing time: 24 Feb 2023, 15:09:58 UTC
Previous filing: 19 Dec 2022
Next filing: 05 Sep 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	$339,150	+5,250	+11%	$64.60	54,145	22 Feb 2023	Direct	F1
transaction	DLB	Class A Common Stock	Options Exercise	$325,198	+5,209	+9.6%	$62.43	59,354	22 Feb 2023	Direct	F1
transaction	DLB	Class A Common Stock	Options Exercise	$542,207	+7,927	+13%	$68.40	67,281	22 Feb 2023	Direct	F1
transaction	DLB	Class A Common Stock	Sale	$2,362,755	-28,701	-43%	$82.32	38,580	22 Feb 2023	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	-5,250	-100%	$0.000000^*	0	22 Feb 2023	Class A Common Stock	5,250	$64.60	Direct	F3
transaction	DLB	Employee Stock Option (right to buy)	Options Exercise	$0	-5,209	-100%	$0.000000^*	0	22 Feb 2023	Class A Common Stock	5,209	$62.43	Direct	F4
transaction	DLB	Employee Stock Option (right to buy)	Options Exercise	$0	-7,927	-47%	$0.000000	8,808	22 Feb 2023	Class A Common Stock	7,927	$68.40	Direct	F5

* 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 34,670 restricted stock units, which are subject to forfeiture until they vest
F2	The shares were sold in multiple transactions at prices ranging from $81.95 to $82.71. 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 option was granted for a total of 36,000 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.
F4	This option was granted for a total of 125,000 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.
F5	This option was granted for a total of 42,275 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.