Kevin Yeaman - May 16, 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
May 16, 2023
Transactions value $
-$367,242
Form type
4
Date filed
5/18/2023, 07:27 PM
Previous filing
Apr 13, 2023
Next filing
Jun 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $388K +9.03K +17.41% $42.98 60.9K May 16, 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
transaction DLB Class A Common Stock Sale -$755K -9.03K -14.83% $83.65 51.9K May 16, 2023 By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 F1
holding DLB Class A Common Stock 120K May 16, 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 -9.03K -5.26% $0.00 163K May 16, 2023 Class A Common Stock 9.03K $42.98 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 $83.24 to $84. 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 option was granted for a total of 291,598 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.

Remarks:

The sale reported in this Form 4 was 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.