Dolby (DLB) CEO Kevin Yeaman files Form 4 for option exercises, sale and charitable gift

Rhea-AI Filing Summary

Dolby Laboratories, Inc. (DLB) President and CEO Kevin Yeaman, who is also a director, reported multiple transactions in Class A common stock and related stock options. On November 24, 2025, a family trust exercised employee stock options for 25,000 shares at $45.50 and 11,699 shares at $64.60, increasing indirect holdings. That same day, the trust sold 36,699 shares at a weighted average price of $66.9066, with the shares sold in multiple transactions under a Rule 10b5-1 trading plan adopted on February 28, 2025.

On November 26, 2025, Mr. Yeaman gifted 16,348 shares of Class A common stock from the trust to a donor-advised fund for charitable purposes. Following the reported transactions, indirect holdings include 98,377 shares in the family trust and additional indirect ownership through restricted stock units and shares held by a son.

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

OMB APPROVAL

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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^*

YEAMAN KEVIN J

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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	11/24/2025		M		25,000	A	$45.5	139,725	I	By a trust(1)
Class A Common Stock	11/24/2025		M		11,699	A	$64.6	151,424	I	By a trust(1)
Class A Common Stock	11/24/2025		S		36,699	D	$66.9066(2)	114,725	I	By a trust(1)
Class A Common Stock	11/26/2025		G(3)		16,348	D	$0	98,377	I	By a trust(1)
Class A Common Stock								127,735(4)	D
Class A Common Stock								2.5592	I	By a son

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)	$45.5	11/24/2025		M			25,000	(5)	12/15/2026	Class A Common Stock	25,000	$0	10,615	I	By a trust(1)
Employee Stock Option (Right to Buy)	$64.6	11/24/2025		M			11,699	(6)	12/17/2025	Class A Common Stock	11,699	$0	23,752	I	By a trust(1)

Explanation of Responses:

1. By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009

2. The shares were sold in multiple transactions at prices ranging from $66.53 to $67.37, 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 pursuant to a 10b5-1 trading plan adopted on February 28, 2025.

3. On November 26, 2025, Mr. Yeaman gifted 16,348 shares of Class A Common Stock to a Donor-Advised Fund for the purpose of making charitable donations.

4. Shares held following the reported transactions include 127,735 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

5. This option was granted for a total of 194,399 shares of Class A Common Stock. The option exercised in this transaction was fully vested and exercisable as of the transaction date.

6. This performance-based stock option award was granted for a total of 82,000 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 17, 2021 was at 75% of target, or 61,500 shares.

	/s/ Daniel Rodriguez as Attorney-in-Fact for Kevin Yeaman	11/26/2025
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did Dolby Laboratories (DLB) CEO Kevin Yeaman report?

Kevin Yeaman reported option exercises, a share sale, and a charitable gift involving Dolby Laboratories Class A common stock. On November 24, 2025, a family trust exercised options for 25,000 shares at $45.50 and 11,699 shares at $64.60, and sold 36,699 shares at a weighted average price of $66.9066. On November 26, 2025, the trust gifted 16,348 shares to a donor-advised fund.

How many Dolby (DLB) shares did Kevin Yeaman’s trust sell and at what price?

On November 24, 2025, the Kevin and Rachel Yeaman Family Trust sold 36,699 shares of Dolby Class A common stock. The filing states that the shares were sold in multiple transactions at prices ranging from $66.53 to $67.37, with a reported weighted average sale price of $66.9066.

What stock options did the Dolby (DLB) CEO exercise in this Form 4?

The filing shows that a family trust exercised two employee stock options on November 24, 2025: one option to buy 25,000 shares at $45.50, originally granted for 194,399 shares, and one performance-based option to buy 11,699 shares at $64.60, from an award originally granted for 82,000 shares at target.

Was a 10b5-1 trading plan used for the Dolby (DLB) share sale?

Yes. The filing states that the 36,699 shares of Class A common stock sold on November 24, 2025 were sold pursuant to a Rule 10b5-1 trading plan that was adopted on February 28, 2025.

Did the Dolby (DLB) CEO make any charitable gifts of stock in this report?

Yes. On November 26, 2025, Mr. Yeaman gifted 16,348 shares of Dolby Class A common stock from the family trust to a donor-advised fund for the purpose of making charitable donations.

What are Kevin Yeaman’s indirect holdings in Dolby (DLB) after these transactions?

After the reported transactions, the filing lists 98,377 shares of Class A common stock held indirectly by the Kevin and Rachel Yeaman Family Trust. It also notes 127,735 shares of Class A common stock underlying restricted stock units and an additional 2.5592 shares held indirectly by a son.