Kevin Yeaman - Mar 14, 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
Stock symbol
DLB
Transactions as of
Mar 14, 2023
Transactions value $
-$1,096,166
Form type
4
Date filed
3/16/2023, 04:21 PM
Previous filing
Feb 15, 2023
Next filing
Apr 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $1.4M +30.8K +59.33% $45.50 82.7K Mar 14, 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
transaction DLB Class A Common Stock Sale -$2.14M -26.4K -31.91% $81.04 56.3K Mar 14, 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F1
transaction DLB Class A Common Stock Sale -$359K -4.41K -7.83% $81.53 51.9K Mar 14, 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F2
holding DLB Class A Common Stock 120K Mar 14, 2023 Direct F3

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 -30.8K -50% $0.00 30.8K Mar 14, 2023 Class A Common Stock 30.8K $45.50 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F4
* 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 $80.48 to $81.47. 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 The shares were sold in multiple transactions at prices ranging from $81.48 to $81.64. 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 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.
F4 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 prior to February 27, 2023.