Kevin J. Yeaman - 15 Dec 2025 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Reporting relationship: President and CEO, Director
Issuer ticker: DLB
Reported as of: 15 Dec 2025
Net transaction value: -$4,532,656
SEC form: 4
Accepted by SEC: 17 Dec 2025, 21:43:02 UTC
Prior SEC filing: 11 Dec 2025
Next SEC filing: 09 Feb 2026
Source filing: View source filing
Reporting owner signature: /s/ Daniel Rodriguez, Attorney-in-Fact for Kevin Yeaman

Key filing fact

Kevin J. Yeaman filed Form 4 for Dolby Laboratories, Inc. (DLB) on 17 Dec 2025.

Key facts

This page summarizes Kevin J. Yeaman's Form 4 filing for Dolby Laboratories, Inc. (DLB).
11 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 17 Dec 2025, 21:43.

Change

Previous filing in this sequence was filed on 11 Dec 2025.
Current net transaction value: -$4,532,656.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001200469 Primary reporting owner

YEAMAN KEVIN J

Relationship: President and CEO, Director
Address: C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET, SAN FRANCISCO
Signature: /s/ Daniel Rodriguez, Attorney-in-Fact for Kevin Yeaman
Signature date: 17 Dec 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

DLB transaction

Class A Common Stock

Award

Transaction value: $0
Shares: +65,968
Change %: +52%
Price: $0.000000
Shares after: 193,703
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F1, F2

DLB transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +17,633
Change %: +9.5%
Price: $0.000000
Shares after: 202,587
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F3, F4

DLB transaction

Class A Common Stock

Tax liability

Transaction value: $1,835,737
Shares: -27,180
Change %: -15%
Price: $67.54
Shares after: 157,390
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F5, F6

DLB transaction

Class A Common Stock

Tax liability

Transaction value: $456,680
Shares: -6,855
Change %: -4.6%
Price: $66.62
Shares after: 143,784
Date: 16 Dec 2025
Ownership: Direct
Footnotes: F5, F7

DLB transaction

Class A Common Stock

Sale

Transaction value: $1,450,895
Shares: -21,772
Change %: -17%
Price: $66.64
Shares after: 110,122
Date: 16 Dec 2025
Ownership: By a trust
Footnotes: F8, F9, F10

DLB transaction

Class A Common Stock

Sale

Transaction value: $335,415
Shares: -4,994
Change %: -4.5%
Price: $67.16
Shares after: 105,128
Date: 16 Dec 2025
Ownership: By a trust
Footnotes: F10, F11

DLB transaction

Class A Common Stock

Sale

Transaction value: $448,525
Shares: -6,671
Change %: -6.3%
Price: $67.24
Shares after: 98,457
Date: 17 Dec 2025
Ownership: By a trust
Footnotes: F10, F12

DLB transaction

Class A Common Stock

Sale

Transaction value: $5,403
Shares: -80
Change %: -0.08%
Price: $67.54
Shares after: 98,377
Date: 17 Dec 2025
Ownership: By a trust
Footnotes: F10

DLB holding

Class A Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 3
Date: 15 Dec 2025
Ownership: By son

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

DLB transaction Derivative

Performance-Based Restricted Stock Unit

Award

Transaction value: $0
Shares: +32,984
Change %
Price: $0.000000
Shares after: 32,984
Date: 15 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 32,984
Exercise price
Footnotes: F13

DLB transaction Derivative

Employee Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +145,252
Change %
Price: $0.000000
Shares after: 145,252
Date: 15 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 145,252
Exercise price: $66.62
Footnotes: F14

DLB transaction Derivative

Performance-Based Restricted Stock Unit

Options Exercise

Transaction value: $0
Shares: -17,633
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 15 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 17,633
Exercise price
Footnotes: F3, F15

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 15 footnotes

Footnote F1

Award represents a total of 65,968 restricted stock units granted under the terms of the Issuer's 2020 Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/4 of the total number of units shall vest on each anniversary of December 15, 2025. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

Footnote F2

Shares held following the reported transactions include 193,703 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Footnote F3

Each performance-based restricted stock unit (PSU) represented a contingent right to receive, upon vesting, one share of Issuer Class A common stock.

Footnote F4

Shares held following the reported transactions (i) include 193,703 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest and (ii) exclude 8,749 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the vesting of performance-based restricted stock units.

Footnote F5

In accordance with Rule 16b-3, shares reported as disposed of were withheld by the Issuer in a transaction exempt from Section 16(b) and not issued to the reporting person in order to cover withholding taxes incidental to the vesting of restricted stock units or performance-based restricted stock units.

Footnote F6

Shares held following the reported transaction (i) include 157,390 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest and (ii) exclude 18,017 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the vesting of restricted stock units.

Footnote F7

Shares held following the reported transaction (i) include 143,784 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest and (ii) exclude 6,751 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the vesting of restricted stock units.

Footnote F8

The shares were sold in multiple transactions at prices ranging from $65.98 to $66.975, inclusive. 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. The shares were sold pursuant to a 10b5-1 trading plan adopted on February 28, 2025.

Footnote F9

Includes 33,517 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the reported transactions.

Footnote F10

By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009

Footnote F11

The shares were sold in multiple transactions at prices ranging from $67.00 to $67.375, inclusive. 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. The shares were sold pursuant to a 10b5-1 trading plan adopted on February 28, 2025.

Footnote F12

The shares were sold in multiple transactions at prices ranging from $66.49 to $67.48, inclusive. 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. The shares were sold pursuant to a 10b5-1 trading plan adopted on February 28, 2025.

Footnote F13

Each performance-based restricted stock unit ("PSU") represents a right to receive, upon vesting, one share of Class A common stock. The vesting of this PSU award is dependent upon (i) achievement of performance criteria measured during a three-year performance period beginning on December 15, 2025 and ending December 12, 2028 and (ii) satisfaction of a service-based vesting component. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 200% of the target award amount based on achievement of annualized total shareholder return compared to the S&P Mid Cap 400 Index at the end of the three-year performance period. The actual PSU award earned shall vest upon the later of three years from the date of grant and certification by the Company's Compensation Committee of the achievement of the performance criteria, following the end of the three-year performance period.

Footnote F14

This option was granted for a total of 145,252 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, 2025, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.

Footnote F15

The vesting of the PSU award was dependent upon the achievement of performance criteria measured during a three-year performance period beginning on December 15, 2022 and ending December 10, 2025. The reporting person was eligible to earn from 0% to 200% of the target award amount (which was 27,273 shares) based on achievement of annualized total shareholder return compared to the S&P Mid Cap 400 Index at the end of the three-year performance period. Following the end of the three-year performance period, the Issuer's Compensation Committee certified the achievement of the performance criteria at 64.65% of the target award amount resulting in the vesting of 17,633 PSUs. The remaining 9,640 PSUs were cancelled. The service-based vesting component of the PSU award was satisfied upon certification of the achievement of the performance criteria.