Sec Form 4 Filing - YEAMAN KEVIN J @ Dolby Laboratories, Inc. - 2023-02-13

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
YEAMAN KEVIN J
2. Issuer Name and Ticker or Trading Symbol
Dolby Laboratories, Inc. [ DLB]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President and CEO
(Last) (First) (Middle)
C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET
3. Date of Earliest Transaction (MM/DD/YY)
02/13/2023
(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 02/14/2023 M 30,780 A $ 45.5 82,659 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
Class A Common Stock 02/14/2023 S 17,336 D $ 83.2779 ( 1 ) 65,323 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
Class A Common Stock 02/14/2023 S 13,444 D $ 83.7603 ( 2 ) 51,879 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
Class A Common Stock 119,557 ( 3 ) 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) $ 71.07 02/13/2023 G( 4 ) V 98,200 ( 5 ) 12/15/2032 Class A Common Stock 98,200 $ 0 0 D
Employee Stock Option (Right to Buy) $ 71.07 02/13/2023 G( 4 ) V 98,200 ( 5 ) 12/15/2032 Class A Common Stock 98,200 $ 0 98,200 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
Employee Stock Option (Right to Buy) $ 45.5 02/14/2023 M 30,780 ( 6 ) 12/15/2023 Class A Common Stock 30,780 $ 0 61,559 I By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
YEAMAN KEVIN J
C/O DOLBY LABORATORIES, INC.
1275 MARKET STREET
SAN FRANCISCO, CA94103
X President and CEO
Signatures
/s/ Daniel Rodriguez, as Attorney-in-Fact for Kevin Yeaman 02/15/2023
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The shares were sold in multiple transactions at prices ranging from $82.67 to $83.66. 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 )The shares were sold in multiple transactions at prices ranging from $83.67 to $83.94. 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.
( 3 )Shares held following the reported transactions include 119,557 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
( 4 )Effective February 13, 2023 the Reporting Person transferred this option to a revocable trust for no consideration, for estate planning purposes.
( 5 )This option was granted for a total of 98,200 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of December 15, 2022, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.
( 6 )This performance-based stock option award was granted for a total of 97,199 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 92,339 shares.

Remarks:
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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