X0303 4 2011-01-18 0 0001308547 Dolby Laboratories, Inc. DLB 0001256708 SHERMAN MARK ANDREW C/O DOLBY LABORATORIES, INC. 100 POTRERO AVENUE SAN FRANCISCO CA 94103 0 1 0 0 EVP, GEN. COUN. & SECRTY Class A Common Stock 2011-01-18 4 A 0 17400 0 A 17400 D Employee Stock Option (Right to Buy) 60.69 2011-01-18 4 A 0 69000 0 A 2021-01-18 Class A Common Stock 69000 69000 D Award represents a total of 17,400 restricted stock units granted under the terms of the Issuer's 2005 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 January 18, 2011. 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, but none of the shares reported as sold, include 17,400 restricted stock units, which are subject to forfeiture until they vest. This option was granted for a total of 69,000 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of January 18, 2011, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter. Not Applicable. /s/ Alan G. Smith, Attorney-in-fact 2011-01-19