Mark Andrew Sherman - Jan 30, 2025 Form 4 Insider Report for Dolby Laboratories, Inc. (DLB)

Role
EVP, Gen. Counsel & Secretary
Signature
/s/ Daniel Rodriguez as Attorney-in-Fact for Mark Andrew Sherman
Stock symbol
DLB
Transactions as of
Jan 30, 2025
Transactions value $
-$902,303
Form type
4
Date filed
2/3/2025, 08:29 PM
Previous filing
Dec 18, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DLB Class A Common Stock Options Exercise $2.49M +40K +64.11% $62.32 102K Jan 30, 2025 Direct F1
transaction DLB Class A Common Stock Sale -$1.25M -15K -14.65% $83.00 87.4K Jan 30, 2025 Direct F1
transaction DLB Class A Common Stock Sale -$2.15M -25K -28.61% $86.00 62.4K Jan 30, 2025 Direct F1, 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 -40K -71.43% $0.00 16K Jan 30, 2025 Class A Common Stock 40K $62.32 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares held following the reported transactions include 45,470 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
F2 The shares were sold in multiple transactions at prices ranging from $86.00 to $86.195, 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.
F3 This option was granted for a total of 56,000 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.