Filing Details

Accession Number:
0001209191-19-061240
Form Type:
4
Zero Holdings:
No
Publication Time:
2019-12-18 21:53:10
Reporting Period:
2019-12-16
Accepted Time:
2019-12-18 21:53:10
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1308547 Dolby Laboratories Inc. DLB Patent Owners & Lessors (6794) 900199783
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1731843 Giles Baker C/O Dolby Laboratories, Inc.
1275 Market Street
San Francisco CA 94103
Svp, Consumer Entertainment No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Class A Common Stock Disposition 2019-12-16 4,588 $67.75 26,537 No 4 F Direct
Class A Common Stock Acquisiton 2019-12-16 12,500 $0.00 39,037 No 4 A Direct
Class A Common Stock Disposition 2019-12-17 4,662 $68.64 34,375 No 4 S Direct
Class A Common Stock Disposition 2019-12-17 1,550 $68.40 32,825 No 4 F Direct
Class A Common Stock Disposition 2019-12-18 1,575 $68.46 31,250 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 F Direct
No 4 A Direct
No 4 S Direct
No 4 F Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Class A Common Stock Performance-Based Restricted Stock Unit Acquisiton 2019-12-16 6,250 $0.00 6,250 $0.00
Class A Common Stock Employee Stock Option (Right to Buy) Acquisiton 2019-12-16 56,825 $0.00 56,825 $68.40
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
6,250 No 4 A Direct
56,825 2029-12-16 No 4 A Direct
Footnotes
  1. In accordance with Rule 16b-3, shares reported as disposed of were withheld by the Issuer and not issued to the reporting person in order to cover withholding taxes incidental to the vesting of restricted stock units.
  2. Shares held following the reported transactions include 21,875 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
  3. Award represents a total of 12,500 restricted stock units granted under the terms of the Issuer's 2005 Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/4 of the total number of units shall vest on each anniversary of December 16, 2019. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.
  4. Shares held following the reported transactions include 34,375 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
  5. The shares were sold in multiple transactions at prices ranging from $68.29 to $68.88, 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.
  6. Shares held following the reported transactions include 31,250 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
  7. The vesting of this performance-based restricted stock unit ("PSU") award is dependent upon achievement of performance criteria measured during a three-year performance period beginning on December 16, 2019 and ending December 13, 2022. Each PSU represents a right to receive, upon vesting, one share of Class A common stock. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 200% of the target award amount based on achievement of annualized total shareholder return compared to the S&P Mid Cap 400 Index at the end of the three-year performance period. The actual PSU 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.
  8. This option was granted for a total of 56,825 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 16, 2019, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.