X0306 4 2020-02-11 0 0001308547 Dolby Laboratories, Inc. DLB 0001767009 Nicholson Ryan C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO CA 94103 0 1 0 0 VP, Corporate Controller Class A Common Stock 2020-02-11 4 M 0 1740 25.00 A 11851 D Class A Common Stock 2020-02-11 4 S 0 1740 71.63 D 10111 D Class A Common Stock 2020-02-11 4 S 0 1180 71.593 D 8931 D Employee Stock Option (right to buy) 25.00 2020-02-11 4 M 0 1740 0.00 D 2021-10-17 Class A Common Stock 1740 0 D Shares held following the reported transactions include 6,188 restricted stock units, which are subject to forfeiture until they vest. This transaction was executed in multiple trades at prices ranging from $71.58 to $71.61 The price reported above reflects the weighted average 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 5,568 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of October 17, 2011, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter. /s/ Daniel Rodriguez, Attorney-in-Fact for Ryan Nicholson 2020-02-12