Sec Form 4 Filing - Borchers Bob @ Dolby Laboratories, Inc. - 2017-11-15

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Borchers Bob 2. Issuer Name and Ticker or Trading Symbol Dolby Laboratories, Inc. [ DLB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) SVP & Chief Marketing Officer (Last) (First) (Middle) C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET 3. Date of Earliest Transaction (MM/DD/YY) 11/15/2017 (Street) SAN FRANCISCO, CA94103 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 11/15/2017 M 26,354 A $ 33.15 76,455 ( 1 ) ( 2 ) D Class A Common Stock 11/15/2017 S 26,354 D $ 61.0025 ( 3 ) 50,101 ( 1 ) ( 2 ) D Class A Common Stock 11/15/2017 M 23,646 A $ 41.31 73,747 ( 1 ) ( 2 ) D Class A Common Stock 11/15/2017 S 23,646 D $ 61.0025 ( 3 ) 50,101 ( 1 ) ( 2 ) D Class A Common Stock 11/16/2017 M 16,821 A $ 41.31 66,922 ( 1 ) ( 2 ) D Class A Common Stock 11/16/2017 S 16,821 D $ 61.0904 ( 4 ) 50,101 ( 1 ) ( 2 ) D Class A Common Stock 11/17/2017 M 50,000 D $ 41.31 100,101 ( 1 ) ( 2 ) D Class A Common Stock 11/17/2017 S 50,000 D $ 61.3235 ( 5 ) 50,101 ( 1 ) ( 2 ) D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Option (right to buy) $ 33.15 11/15/2017 M 26,354 ( 6 ) 12/15/2025 Class A Common Stock 26,354 $ 0 28,646 D Employee Stock Option (right to buy) $ 41.31 11/15/2017 M 23,646 ( 7 ) 01/15/2024 Class A Common Stock 23,646 $ 0 195,404 D Employee Stock Option (right to buy) $ 41.31 11/16/2017 M 16,821 ( 7 ) 01/15/2024 Class A Common Stock 16,821 $ 0 178,583 D Employee Stock Option (right to buy) $ 41.31 11/17/2017 M 50,000 ( 7 ) 01/15/2014 Class A Common Stock 50,000 $ 0 128,583 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Borchers Bob C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO, CA94103 SVP & Chief Marketing Officer Signatures /s/ Daniel Rodriguez, Attorney-in-Fact for Bob Borchers 11/17/2017 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Shares held following the reported transactions include 40,748 restricted stock units, which are subject to forfeiture until they vest. ( 2 )Shares include 526 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2017. ( 3 )This transaction was executed in multiple trades at prices ranging from $61 to $61.10. 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. ( 4 )This transaction was executed in multiple trades at prices ranging from $61 to $61.27. 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. ( 5 )This transaction was executed in multiple trades at prices ranging from $61.31 to $61.41. 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. ( 6 )This option was granted for a total of 55,000 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, 2015, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter. ( 7 )This option was granted for a total of 171,425 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of January 15, 2014, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.

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