Dolby Laboratories (NYSE: DLB) details CFO RSUs, PSUs and options

Rhea-AI Filing Summary

Dolby Laboratories chief financial officer Robert Park reported new equity awards and related share movements in the company’s Class A common stock. On December 15, 2025 he received 23,371 restricted stock units under the 2020 Stock Plan, 11,685 performance-based restricted stock units tied to three-year total shareholder return, and 51,460 stock options exercisable at $66.62 per share.

A prior performance-based award with a target of 8,797 shares vested at 64.65% of target, resulting in 5,687 PSUs vesting and 3,110 being cancelled. Shares reported with transaction code F, totaling 6,473 and 2,285, were withheld to cover taxes on vesting. After these transactions, Park beneficially owns 86,385 Class A shares, including 48,874 shares underlying unvested restricted stock units that remain subject to future vesting.

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).

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^*

Park Robert 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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	12/15/2025		A		23,371	A(1)	$0	89,456(2)	D
Class A Common Stock	12/15/2025		M		5,687	A	$0(3)	95,143(2)	D
Class A Common Stock	12/15/2025		F(4)		6,473	D	$67.54	88,670(5)	D
Class A Common Stock	12/16/2025		F(4)		2,285	D	$66.62	86,385(6)	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
Performance-Based Restricted Stock Unit	(7)	12/15/2025		A		11,685		(7)	(7)	Class A Common Stock	11,685	$0	11,685	D
Employee Stock Option (Right to Buy)	$66.62	12/15/2025		A		51,460		(8)	12/15/2035	Class A Common Stock	51,460	$0	51,460	D
Performance-Based Restricted Stock Unit	(3)	12/15/2025		M			5,687	(9)	(9)	Class A Common Stock	5,687	$0	0	D

Explanation of Responses:

1. Award represents a total of 23,371 restricted stock units granted under the terms of the Issuer's 2020 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 15, 2025. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

2. Shares held following the reported transactions include 61,557 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

3. Each performance-based restricted stock unit (PSU) represented a contingent right to receive, upon vesting, one share of Issuer Class A common stock.

4. In accordance with Rule 16b-3, shares reported as disposed of were withheld by the Issuer in a transaction exempt from Section 16(b) and not issued to the reporting person in order to cover withholding taxes incidental to the vesting of restricted stock units.

5. Shares held following the reported transactions include 53,409 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

6. Shares held following the reported transactions include 48,874 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

7. Each performance-based restricted stock unit ("PSU") represents a right to receive, upon vesting, one share of Class A common stock. The vesting of this PSU award is dependent upon (i) achievement of performance criteria measured during a three-year performance period beginning on December 15, 2025 and ending December 12, 2028 and (ii) satisfaction of a service-based vesting component. 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 upon the later of three years from the date of grant and 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 51,460 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, 2025, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.

9. The vesting of the PSU award was dependent upon the achievement of performance criteria measured during a three-year performance period beginning on December 15, 2022 and ending December 10, 2025. The reporting person was eligible to earn from 0% to 200% of the target award amount (which was 8,797 shares) 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. Following the end of the three-year performance period, the Issuer's Compensation Committee certified the achievement of the performance criteria at 64.65% of the target award amount resulting in the vesting of 5,687 PSUs. The remaining 3,110 PSUs were cancelled. The service-based vesting component of the PSU award was satisfied upon certification of the achievement of the performance criteria.

	/s/ Daniel Rodriguez, Attorney-in-Fact for Robert Park	12/17/2025
	** Signature of Reporting Person	Date
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FAQ

What insider stock transactions did Dolby Laboratories (DLB) CFO report?

Dolby Laboratories CFO Robert Park reported receiving new equity awards and related share movements. On December 15, 2025 he acquired 23,371 restricted stock units, 11,685 performance-based restricted stock units, and 51,460 stock options, along with common shares issued from vested performance units and share dispositions to cover taxes.

How many restricted stock units did Dolby Laboratories (DLB) grant to its CFO?

Robert Park received an award of 23,371 restricted stock units under Dolby’s 2020 Stock Plan. In addition, he was granted 11,685 performance-based restricted stock units, each representing a contingent right to receive one share of Class A common stock upon satisfaction of performance and service-based vesting conditions.

What are the performance conditions on the new Dolby Laboratories CFO PSU award?

The new performance-based restricted stock unit award of 11,685 units vests based on total shareholder return versus the S&P Mid Cap 400 Index over a three-year period from December 15, 2025 to December 12, 2028. Park may ultimately earn from 0% to 200% of the target amount, with the earned PSUs vesting after three years and certification of results by the Compensation Committee.

What was the outcome of the prior Dolby Laboratories performance-based award?

A prior PSU award had a target of 8,797 shares. Based on the company’s annualized total shareholder return versus the S&P Mid Cap 400 Index over a three-year period beginning December 15, 2022, the Compensation Committee certified achievement at 64.65% of target. This resulted in 5,687 PSUs vesting and the remaining 3,110 PSUs being cancelled.

How many Dolby Laboratories (DLB) shares does the CFO own after these transactions?

Following the reported transactions, Robert Park beneficially owns 86,385 shares of Dolby Laboratories Class A common stock. This total includes 48,874 shares underlying restricted stock units that remain subject to forfeiture until they vest.

What stock option grant did Dolby Laboratories give its CFO in this filing?

Dolby Laboratories granted Robert Park an employee stock option covering 51,460 shares of Class A common stock with an exercise price of $66.62 per share. One quarter of the shares vest on the first anniversary of December 15, 2025, and the remaining shares vest in equal monthly installments over the following 36 months until the option’s expiration on December 15, 2035.

Why were some Dolby Laboratories shares reported as disposed of for the CFO?

The filing shows dispositions with transaction code F of 6,473 shares at $67.54 and 2,285 shares at $66.62. According to the notes, these shares were withheld by Dolby in a transaction exempt under Rule 16b-3 to cover withholding taxes incidental to the vesting of restricted stock units, rather than being sold by Robert Park in open-market transactions.