X0306 4 2016-12-21 0 0001308547 Dolby Laboratories, Inc. DLB 0001200469 YEAMAN KEVIN J C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103 1 1 0 0 President and CEO Class A Common Stock 2016-12-21 4 F 0 7136 46.30 D 118251 D Class A Common Stock 135838 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 Class A Common Stock 2016-12-22 4 S 0 2943 46.098 D 132895 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 In accordance with Rule 16b-3, shares reported as disposed of were withheld by the Issuer and not issued to the reporting person in order to cover withholding taxes incident to the vesting of restricted stock units. Shares held following the reported transactions include 118,251 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest. This transaction was executed in multiple trades at prices ranging from $45.95 to $46.34. The price reported above reflects the weighted average 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 sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan. /s/ Daniel Rodriguez, Attorney-in-Fact for Kevin Yeaman 2016-12-22