SEC Form 4 · accession 0001209191-16-137840
Dolby Laboratories, Inc. · DLB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin J Yeaman
Officer — President and CEO · Director
Period of report
Aug 16, 2016
Accepted (ET)
Aug 18, 2016 · 6:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001308547
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance-Based Stock Option (Right to Buy)F2 | $33.15 | Aug 16, 2016 | G | 97,199 | D | — | Dec 15, 2022 | Class A Common Stock | 97,199 | 0 | D |
| Performance-Based Stock Option (Right to Buy)F2 | $33.15 | Aug 16, 2016 | G | 97,199 | A | — | Dec 15, 2022 | Class A Common Stock | 97,199 | 97,199 | I |
| Employee Stock Option (Right to Buy)F3 | $33.15 | Aug 16, 2016 | G | 194,399 | D | — | Dec 15, 2025 | Class A Common Stock | 194,399 | 0 | D |
| Employee Stock Option (Right to Buy)F3 | $33.15 | Aug 16, 2016 | G | 194,399 | A | — | Dec 15, 2025 | Class A Common Stock | 194,399 | 194,399 | I |
Explanation of responses
- F1Effective August 16, 2015, the Reporting Person transferred this option as a gift to a revocable trust.
- F2The vesting of this performance-based stock option ("PSO") award is dependent upon achievement of performance criteria measured during a three-year performance period beginning on December 15, 2015 and ending December 15, 2018. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 125% of the target award amount based on total shareholder return at the end of the three-year performance period. The actual PSO award earned shall vest immediately upon certification by the Company's Compensation Committee of the achievement of the performance criteria, following the end of the three-year performance period.
- F3This option was granted for a total of 194,399 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, 2015, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.