X0306 4 2020-02-19 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 2020-02-19 4 M 0 20000 42.98 A 68651 D Class A Common Stock 2020-02-19 4 S 0 20000 73.00 D 48651 D Employee Stock Option (right to buy) 42.98 2020-02-19 4 M 0 20000 0.00 D 2024-12-15 Class A Common Stock 20000 48418 D Shares held following the reported transactions include 33,200 restricted stock units, which are subject to forfeiture until they vest This option was granted for a total of 75,212 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, 2014, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter. **All of the sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.** /s/ Daniel Rodriguez, Attorney-in-Fact for Andy Sherman 2020-02-20