Todd Pendleton - 15 Dec 2025 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Reporting relationship: SVP, Chief Marketing Officer
Issuer ticker: DLB
Reported as of: 15 Dec 2025
Net transaction value: -$539,531
SEC form: 4
Accepted by SEC: 17 Dec 2025, 21:44:30 UTC
Prior SEC filing: 21 Feb 2025
Next SEC filing: 27 May 2026
Source filing: View source filing
Reporting owner signature: /s/ Daniel Rodriguez, Attorney-in-Fact for Todd Pendleton

Key filing fact

Todd Pendleton filed Form 4 for Dolby Laboratories, Inc. (DLB) on 17 Dec 2025.

Key facts

This page summarizes Todd Pendleton's Form 4 filing for Dolby Laboratories, Inc. (DLB).
7 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 17 Dec 2025, 21:44.

Change

Previous filing in this sequence was filed on 21 Feb 2025.
Current net transaction value: -$539,531.

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 0001746636 Primary reporting owner

Pendleton Todd

Relationship: SVP, Chief Marketing Officer
Address: C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET, SAN FRANCISCO
Signature: /s/ Daniel Rodriguez, Attorney-in-Fact for Todd Pendleton
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: +18,848
Change %: +51%
Price: $0.000000
Shares after: 56,138
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F1, F2

DLB transaction

Class A Common Stock

Options Exercise

Transaction value: $0
Shares: +5,233
Change %: +9.3%
Price: $0.000000
Shares after: 61,371
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F2, F3

DLB transaction

Class A Common Stock

Tax liability

Transaction value: $409,022
Shares: -6,056
Change %: -9.9%
Price: $67.54
Shares after: 55,315
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F4, F5

DLB transaction

Class A Common Stock

Tax liability

Transaction value: $130,509
Shares: -1,959
Change %: -3.5%
Price: $66.62
Shares after: 53,356
Date: 16 Dec 2025
Ownership: Direct
Footnotes: F4, F6

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: +9,424
Change %
Price: $0.000000
Shares after: 9,424
Date: 15 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 9,424
Exercise price
Footnotes: F7

DLB transaction Derivative

Employee Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +41,500
Change %
Price: $0.000000
Shares after: 41,500
Date: 15 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 41,500
Exercise price: $66.62
Footnotes: F8

DLB transaction Derivative

Performance-Based Restricted Stock Unit

Options Exercise

Transaction value: $0
Shares: -5,233
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 15 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 5,233
Exercise price
Footnotes: F3, F9

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 9 footnotes

Footnote F1

Award represents a total of 18,848 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 56,138 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

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 F5

Shares held following the reported transactions include 45,367 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Footnote F6

Shares held following the reported transactions include 41,480 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Footnote F7

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 F8

This option was granted for a total of 41,500 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 F9

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 8,094 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 5,233 PSUs. The remaining 2,861 PSUs were cancelled. The service-based vesting component of the PSU award was satisfied upon certification of the achievement of the performance criteria.