X0306
4
2020-11-02
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
2020-11-02
4
M
0
25000
42.98
A
74038
D
Class A Common Stock
2020-11-02
4
S
0
25000
76.0003
D
49038
D
Employee Stock Option (right to buy)
42.98
2020-11-02
4
M
0
25000
0.00
D
2024-12-15
Class A Common Stock
25000
23418
D
Shares held following the reported transactions include 33,200 restricted stock units, which are subject to forfeiture until they vest
Shares include 387 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2020.
The shares were sold in multiple transactions at prices ranging from $76.00 to $76.075, inclusive. The price reported above reflects the weighted average sale 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 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
2020-11-03