0001209191-20-064239.txt : 20201217 0001209191-20-064239.hdr.sgml : 20201217 20201217192805 ACCESSION NUMBER: 0001209191-20-064239 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20201215 FILED AS OF DATE: 20201217 DATE AS OF CHANGE: 20201217 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: YEAMAN KEVIN J CENTRAL INDEX KEY: 0001200469 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32431 FILM NUMBER: 201397589 MAIL ADDRESS: STREET 1: C/O DOLBY LABORATORIES, INC. STREET 2: 1275 MARKET STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94103 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Dolby Laboratories, Inc. CENTRAL INDEX KEY: 0001308547 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 900199783 STATE OF INCORPORATION: DE FISCAL YEAR END: 0927 BUSINESS ADDRESS: STREET 1: 1275 MARKET STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94103 BUSINESS PHONE: 415 558 0200 MAIL ADDRESS: STREET 1: 1275 MARKET STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94103 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2020-12-15 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 2020-12-15 4 F 0 11349 90.86 D 84500 D Class A Common Stock 2020-12-15 4 A 0 42789 0.00 A 127289 D Class A Common Stock 44434 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 Class A Common Stock 2020-12-16 4 S 0 9768 90.6044 D 34666 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 Class A Common Stock 2020-12-16 4 S 0 1771 91.6087 D 32895 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 Class A Common Stock 2020-12-16 4 F 0 5268 92.08 D 116664 D Class A Common Stock 38252 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 Performance-Based Restricted Stock Unit 2020-12-15 4 A 0 21394 0.00 A Class A Common Stock 21394 21394 D Employee Stock Option (Right to Buy) 92.08 2020-12-15 4 A 0 91597 0.00 A 2030-12-15 Class A Common Stock 91597 91597 D 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 incidental to the vesting of restricted stock units. Shares held following the reported transactions include 84,500 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest. Award represents a total of 42,789 restricted stock units granted under the terms of the Issuer's 2020 Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/4 of the total number of units shall vest on each anniversary of December 15, 2020. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting. Shares held following the reported transactions include 127,289 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 $90.147 to $91.11, inclusive. 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. This transaction was executed in multiple trades at prices ranging from $91.165 to $92.00, inclusive. 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. Shares held following the reported transactions include 116,664 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest. The vesting of this performance-based restricted stock unit ("PSU") award is dependent upon achievement of performance criteria measured during a three-year performance period beginning on December 15, 2020 and ending December 12, 2023. Each PSU represents a right to receive, upon vesting, one share of Class A common stock. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 200% of the target award amount based on achievement of annualized total shareholder return compared to the S&P Mid Cap 400 Index at the end of the three-year performance period. The actual PSU 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 91,597 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 15, 2020, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan. /s/ Daniel Rodriguez, Attorney-in-Fact for Kevin Yeaman 2020-12-17