X0306 4 2021-02-05 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 2021-02-05 4 S 0 1436 91.6774 D 50237 D Class A Common Stock 2021-02-05 4 S 0 227 92.23 D 50010 D Class A Common Stock 2021-02-05 4 M 0 2882 45.50 A 52892 D Class A Common Stock 2021-02-05 4 S 0 2707 91.4796 D 50185 D Class A Common Stock 2021-02-05 4 S 0 175 92.23 D 50010 D Class A Common Stock 2021-02-05 4 M 0 23118 45.50 A 73128 D Class A Common Stock 2021-02-05 4 S 0 22622 91.5798 D 50506 D Class A Common Stock 2021-02-05 4 S 0 496 92.23 D 50010 D Employee Stock Option (right to buy) 45.50 2021-02-05 4 M 0 2882 0.00 D 2026-12-15 Class A Common Stock 2882 49118 D Employee Stock Option (right to buy) 45.50 2021-02-05 4 M 0 23118 0.00 D 2023-12-15 Class A Common Stock 23118 0 D The shares were sold in multiple transactions at prices ranging from $91.22 to $91.94, 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. Shares held following the reported transactions include 34,172 restricted stock units, which are subject to forfeiture until they vest The shares were sold in multiple transactions at prices ranging from $91.17 to $92.08, 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. The shares were sold in multiple transactions at prices ranging from $91.135 to $92.08, 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 52,000 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, 2016, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter. This performance-based stock option award was granted for a total of 26,000 shares of Class A Common Stock at target. The number of shares actually earned and vested upon the achievement of total shareholder return performance criteria measured during a three-year performance period ended on December 15, 2019 was at 95% of target, or 24,700 shares. **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 2021-02-08