X0306 4 2017-03-29 0 0001308547 Dolby Laboratories, Inc. DLB 0001256708 SHERMAN MARK ANDREW C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103 0 1 0 0 EVP, GEN. COUN. & SECRTY Class A Common Stock 2017-03-29 4 M 0 6000 28.24 A 51935 D Class A Common Stock 2017-03-29 4 S 0 6000 52.50 D 45935 D Employee Stock Option (right to buy) 28.24 2017-03-29 4 M 0 6000 0.00 D 2021-12-15 Class A Common Stock 6000 72219 D Shares held following the reported transactions include 31,861 restricted stock units, which are subject to forfeiture until they vest. This option was granted for a total of 94,219 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 15, 2011, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter. The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan. /s/ Daniel Rodriguez, Attorney-in-Fact for Andy Sherman 2017-03-31