Sec Form 4 Filing - SHERMAN MARK ANDREW @ Dolby Laboratories, Inc. - 2020-02-05

Insider filing report for Changes in Beneficial Ownership
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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
SHERMAN MARK ANDREW
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)
EVP, GEN. COUN. & SECRTY
(Last) (First) (Middle)
C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET
3. Date of Earliest Transaction (MM/DD/YY)
02/05/2020
(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 02/05/2020 S 6,615 D $ 72.026 ( 1 ) 48,651 ( 2 ) D
Class A Common Stock 02/05/2020 M 5,209 A $ 33.15 53,860 ( 2 ) D
Class A Common Stock 02/05/2020 S 5,209 D $ 72.0026 ( 3 ) 48,651 ( 2 ) D
Class A Common Stock 02/05/2020 M 38,176 A $ 37.35 86,827 ( 2 ) D
Class A Common Stock 02/05/2020 S 38,176 D $ 71.9381 ( 4 ) 48,651 ( 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 02/05/2020 M 5,209 ( 5 ) 12/15/2025 Class A Common Stock 5,209 $ 0 0 D
Employee Stock Option (right to buy) $ 37.35 02/05/2020 M 38,176 ( 6 ) 12/16/2023 Class A Common Stock 38,176 $ 0 29,821 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SHERMAN MARK ANDREW
C/O DOLBY LABORATORIES, INC.
1275 MARKET STREET
SAN FRANCISCO, CA94103
EVP, GEN. COUN. & SECRTY
Signatures
/s/ Daniel Rodriguez, Attorney-in-Fact for Andy Sherman 02/06/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The shares were sold in multiple transactions at prices ranging from $71.65 to $72.14, 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.
( 2 )Shares held following the reported transactions include 33,200 restricted stock units, which are subject to forfeiture until they vest
( 3 )The shares were sold in multiple transactions at prices ranging from $71.65 to $72.16, 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.
( 4 )The shares were sold in multiple transactions at prices ranging from $71.63 to $72.17, 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.
( 5 )This option was granted for a total of 50,000 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 vested in equal monthly installments over the next 36 months thereafter.
( 6 )This option was granted for a total of 74,037 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 16, 2013, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter.

Remarks:
**All of the sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.**

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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