X0306 4 2019-03-25 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 Performance-Based Stock Option (Right to Buy) 64.60 2019-03-25 5 G 0 E 82000 0.00 D 2025-12-17 Class A Common Stock 82000 0 D Performance-Based Stock Option (Right to Buy) 64.60 2019-03-25 5 G 0 E 82000 0.00 A 2025-12-17 Class A Common Stock 82000 82000 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 Employee Stock Option (Right to Buy) 64.60 2019-03-25 5 G 0 E 164000 0.00 D 2028-12-17 Class A Common Stock 164000 0 D Employee Stock Option (Right to Buy) 64.60 2019-03-25 5 G 0 E 164000 0.00 A 2028-12-17 Class A Common Stock 164000 164000 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 Effective March 25, 2019 the Reporting Person transferred this option as a gift to a revocable trust. The vesting of this performance-based stock option ("PSO") award is dependent upon achievement of performance criteria measured during a three-year performance period beginning on December 17, 2018 and ending December 17, 2021. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 125% of the target award amount based on total shareholder return at the end of the three-year performance period. The actual PSO award earned shall vest immediately upon certification by the Company's Compensation Committee of the achievement of the performance criteria, following the end of the three-year performance period. This option was granted for a total of 164,000 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 17, 2018, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter. /s/ Daniel Rodriguez, as Attorney-in-Fact for Kevin Yeaman 2019-03-28