SEC Form 4
FORM 4 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
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Couling John D
(Last) (First) (Middle)
C/O DOLBY LABORATORIES, INC.
1275 MARKET STREET
(Street)
SAN FRANCISCO CA 94103
(City) (State) (Zip)
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, Entertainment
3. Date of Earliest Transaction (Month/Day/Year)
11/22/2024
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 11/22/2024 S 2,000 D $81 106,806(1)(2) D
Class A Common Stock 11/22/2024 M 40,000 A $33.15 146,806(1) D
Class A Common Stock 11/22/2024 M 8,000 A $64.6 154,806(1) D
Class A Common Stock 11/22/2024 S 48,000 D $80 106,806(1) D
Class A Common Stock 11/25/2024 M 7,000 A $64.6 113,806(1) D
Class A Common Stock 11/25/2024 S 7,000 D $80.5 106,806(1) 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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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 (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (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: 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 11/22/2024 M 40,000 (3) 12/15/2025 Class A Common Stock 40,000 $0 0 D
Employee Stock Option (Right to Buy) $64.6 11/22/2024 M 8,000 (4) 12/17/2025 Class A Common Stock 8,000 $0 7,000 D
Employee Stock Option (Right to Buy) $64.6 11/25/2024 M 7,000 (4) 12/17/2025 Class A Common Stock 7,000 $0 0 D
Explanation of Responses:
1. Shares held following the reported transactions include 45,029 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
2. Shares include 239 shares and 48 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2024 and November 15, 2024, respectively.
3. This option was granted for a total of 40,000 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.
4. This performance-based stock option award was granted for a total of 20,000 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, 2018 was at 75% of target, or 15,000 shares.
/s/ Daniel Rodriguez as Attorney-in-Fact for John Couling 11/26/2024
** Signature of Reporting Person Date
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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