SEC Form 4 · accession 0001209191-19-013222
Dolby Laboratories, Inc. · DLB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark Andrew Sherman
Officer — EVP, GEN. COUN. & SECRTY
Period of report
Feb 21, 2019
Accepted (ET)
Feb 25, 2019 · 7:08 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001308547
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1,F2 | Feb 21, 2019 | S | 1,764 | $64.9887 | D | 48,179 | D | |
| Class A Common StockF2 | Feb 21, 2019 | M | 2,919 | $30.49 | A | 51,098 | D | |
| Class A Common StockF3,F2 | Feb 21, 2019 | S | 2,919 | $65.008 | D | 48,179 | D | |
| Class A Common StockF2 | Feb 21, 2019 | M | 19,518 | $33.15 | A | 67,697 | D | |
| Class A Common StockF4,F2 | Feb 21, 2019 | S | 19,518 | $65.0913 | D | 48,179 | D | |
| Class A Common StockF2 | Feb 22, 2019 | M | 5,063 | $33.15 | A | 53,242 | D | |
| Class A Common StockF2 | Feb 22, 2019 | S | 5,063 | $65.00 | D | 48,179 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F5 | $30.49 | Feb 21, 2019 | M | 2,919 | D | — | Dec 21, 2022 | Class A Common Stock | 2,919 | 0 | D |
| Employee Stock Option (right to buy)F6 | $33.15 | Feb 21, 2019 | M | 19,518 | D | — | Dec 15, 2025 | Class A Common Stock | 19,518 | 30,482 | D |
| Employee Stock Option (right to buy)F6 | $33.15 | Feb 22, 2019 | M | 5,063 | D | — | Dec 15, 2025 | Class A Common Stock | 5,063 | 25,419 | D |
Explanation of responses
- F1The shares were sold in multiple transactions at prices ranging from $64.88 to $65.11, 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.
- F2Shares held following the reported transactions include 33,125 restricted stock units, which are subject to forfeiture until they vest
- F3The shares were sold in multiple transactions at prices ranging from $65.00 to $65.03, 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.
- F4The shares were sold in multiple transactions at prices ranging from $65.03 to $65.20, 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.
- F5This option was granted for a total of 61,700 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 21, 2012, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter.
- F6This 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 vest 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.**