0001209191-23-028505.txt : 20230510 0001209191-23-028505.hdr.sgml : 20230510 20230510165137 ACCESSION NUMBER: 0001209191-23-028505 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230508 FILED AS OF DATE: 20230510 DATE AS OF CHANGE: 20230510 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SHERMAN MARK ANDREW CENTRAL INDEX KEY: 0001256708 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32431 FILM NUMBER: 23907374 MAIL ADDRESS: STREET 1: DOLBY LABORATORIES, INC. STREET 2: 1275 MARKET STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94103 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Dolby Laboratories, Inc. CENTRAL INDEX KEY: 0001308547 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 900199783 STATE OF INCORPORATION: DE FISCAL YEAR END: 0927 BUSINESS ADDRESS: STREET 1: 1275 MARKET STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94103 BUSINESS PHONE: 415 558 0200 MAIL ADDRESS: STREET 1: 1275 MARKET STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94103 4 1 doc4.xml FORM 4 SUBMISSION X0407 4 2023-05-08 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. Counsel & Secretary 0 Class A Common Stock 2023-05-08 4 M 0 11118 45.50 A 67492 D Class A Common Stock 2023-05-08 4 M 0 3882 62.32 A 71374 D Class A Common Stock 2023-05-08 4 S 0 12820 83.4653 D 58554 D Class A Common Stock 2023-05-08 4 S 0 2180 84.3527 D 56374 D Employee Stock Option (right to buy) 45.50 2023-05-08 4 M 0 11118 0.00 D 2026-12-15 Class A Common Stock 11118 0 D Employee Stock Option (right to buy) 62.32 2023-05-08 4 M 0 3882 0.00 D 2024-12-15 Class A Common Stock 3882 22998 D Shares held following the reported transactions include 39,803 restricted stock units, which are subject to forfeiture until they vest The shares were sold in multiple transactions at prices ranging from $83.07 to $84.015, 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 $84.10 to $84.735, 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 originally granted for a total of 52,000 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date. This performance-based stock option award was granted for a total of 28,000 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, 2020 was at 96% of target, or 26,880 shares. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 22, 2023 which was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) in effect at the time of adoption. /s/ Daniel Rodriguez, Attorney-in-Fact for Andy Sherman 2023-05-10