Kevin J. Yeaman - 11 Apr 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
11 Apr 2023
Net transactions value
-$1,198,387
Form type
4
Filing time
13 Apr 2023, 16:56:07 UTC
Previous filing
16 Mar 2023
Next filing
18 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 $1,400,444 +30,779 +59% $45.50 82,658 11 Apr 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
transaction DLB Class A Common Stock Sale $2,598,831 -30,779 -37% $84.44 51,879 11 Apr 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F1
holding DLB Class A Common Stock 119,557 11 Apr 2023 Direct 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 -30,779 -100% $0.000000* 0 11 Apr 2023 Class A Common Stock 30,779 $45.50 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F3
* 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 $84.075 to $84.78. 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 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.
F3 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 adopted by the Reporting Person on November 28, 2022 which was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) in effect at the time of adoption.