Mark Andrew Sherman - Jul 12, 2023 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
EVP, Gen. Counsel & Secretary
Signature
/s/ Daniel Rodriguez, Attorney-in-Fact for Andy Sherman
Stock symbol
DLB
Transactions as of
Jul 12, 2023
Transactions value $
-$560,280
Form type
4
Date filed
7/14/2023, 04:34 PM
Previous filing
May 10, 2023
Next filing
Dec 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $1.31M +21K +37.02% $62.32 77.7K Jul 12, 2023 Direct F1, F2
transaction DLB Class A Common Stock Sale -$1.87M -21K -27.02% $89.00 56.7K Jul 12, 2023 Direct F1

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 -21K -91.31% $0.00 2K Jul 12, 2023 Class A Common Stock 21K $62.32 Direct F3
* 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 39,803 restricted stock units, which are subject to forfeiture until they vest
F2 Shares include 356 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2023.
F3 This performance-based stock option award was granted for a total of 28,000 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, 2020 was at 96% of target, or 26,880 shares.

Remarks:

The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 22, 2023 which was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) in effect at the time of adoption.