Dolby CEO exercises options and sells 25,000 shares

Dolby Laboratories President and CEO Kevin J. Yeaman reported an options exercise-and-sale sequence in Class A common stock.

Rhea-AI Filing Summary

Dolby Laboratories President and CEO Kevin J. Yeaman reported an options exercise-and-sale sequence in Class A common stock. An employee stock option was exercised for 25,000 shares at an exercise price of $45.50 per share, and 25,000 shares were sold at a weighted average price of $72.3131 per share, in multiple trades between $71.63 and $72.59. Following these transactions, an indirect trust position holds 114,725 Class A shares, and additional holdings include 127,735 shares underlying restricted stock units that may be forfeited until vesting, plus a small indirect position of 2.5592 shares reported as held by a son.

Insights

Securities Analyst

TL;DR: Routine insider exercise and sale realized a material per-share gain but left substantial indirect holdings intact.

The reported transaction is a common insider liquidity event: an in-the-money option ($45.50 strike) was exercised and the newly acquired shares were sold at a weighted-average price of $72.3131, capturing a clear spread. The filing explicitly states 25,000 shares were acquired and 25,000 sold on 08/12/2025 and that the exercised option formed part of a larger award covering 194,399 shares. Post-transaction beneficial ownership remains sizable (139,725 shares indirect), including 127,735 RSU-backed shares still subject to forfeiture, which limits immediate economic control over that portion. This transaction appears procedural and not indicative of a change in control or governance, but does reflect insider monetization while retaining meaningful economic exposure through the trust and unvested RSUs.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 16 reporting — shows exercised vested option and concurrent sales under reported prices.

The Form 4 disclosure clearly identifies the reporting person as both an officer (President and CEO) and a director, and flags that the transactions may have been executed pursuant to a Rule 10b5-1 plan. The filing provides granular pricing (weighted-average sale $72.3131; sale range $71.63–$72.59) and documents the trust vehicle used for indirect ownership. Notably, 127,735 shares underlying RSUs remain subject to forfeiture, which is material for assessing actual immediate voting and economic rights. From a governance perspective, this is transparent, timely reporting of a routine option exercise and sale; no other governance actions or policy exceptions are disclosed.

Insider Trade Summary

Exercise and Sale: 25,000 shares ($670K approx. pre-tax spread)

Exercise and Sale 5 txns

Insider YEAMAN KEVIN J

Role President and CEO

Sold 25,000 shs ($1.81M)

Approx. gross sale proceeds $1.81M

Approx. exercise cost $1.14M

Approx. pre-tax spread $670K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (Right to Buy)	25,000	$0.00	$0.00
Exercise	Class A Common Stock	25,000	$45.50	$1.14M
Sale	Class A Common Stock	25,000	$72.3131	$1.81M
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (Right to Buy) — 85,615 contracts (Indirect, By a trust); Class A Common Stock — 114,725 shares (Indirect, By a trust); Class A Common Stock — 127,735 shares (Direct); Class A Common Stock — 2.5592 shares (Indirect, By a son)

Footnotes (4)

1. F1. By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009
2. F2. The shares were sold in multiple transactions at prices ranging from $71.63 to $72.59, 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.
3. F3. 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.
4. F4. 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.

Key Figures

Options exercised: 25,000 shares Shares sold: 25,000 shares Exercise price: $45.50 per share +4 more

7 metrics

Options exercised 25,000 shares Employee stock option for Class A common stock exercised on 2025-08-12 at $45.50 per share.

Shares sold 25,000 shares Class A common stock sold on 2025-08-12 at a weighted average price of $72.3131 per share, with trades between $71.63 and $72.59.

Exercise price $45.50 per share Conversion or exercise price of the employee stock option exercised for 25,000 shares of Class A common stock.

Weighted average sale price $72.3131 per share Weighted average price for the 25,000-share sale, based on multiple transactions between $71.63 and $72.59.

Trust holdings after transactions 114,725 shares Class A common stock held indirectly by a trust following the reported transactions.

Restricted stock units underlying shares 127,735 shares Class A common stock underlying restricted stock units held after the transactions, subject to forfeiture until they vest.

Indirect holdings by son 2.5592 shares Class A common stock held indirectly and reported as "By a son" following the transactions.

Key Terms

Employee Stock Option (Right to Buy), restricted stock units, weighted average sale price, indirect ownership

4 terms

Employee Stock Option (Right to Buy) financial

"Security title listed as Employee Stock Option (Right to Buy) exercised for 25,000 shares."

restricted stock units financial

"Footnote notes 127,735 shares of Class A common stock underlying restricted stock units, subject to forfeiture."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

weighted average sale price financial

"A footnote explains multiple transactions and that the price reflects the weighted average sale price."

indirect ownership financial

"Holdings reported with indirect ownership, including shares held "By a trust" and "By a son.""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Dolby (DLB) CEO Kevin Yeaman do in this Form 4 filing?

Kevin Yeaman exercised an employee stock option for 25,000 Class A shares at $45.50 per share, then sold 25,000 shares at a weighted average of $72.3131, all dated 2025-08-12. The transactions are reported as indirect, through a trust.

How many Dolby (DLB) shares did the CEO sell and at what price?

The CEO reported a sale of 25,000 Class A shares at a weighted average price of $72.3131 per share. A footnote states the shares were sold in multiple trades at prices between $71.63 and $72.59, with the reported figure reflecting the weighted average.

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

An Employee Stock Option (Right to Buy) was exercised for 25,000 shares of Class A common stock at $45.50 per share. Another footnote notes this option was part of a grant covering 194,399 shares and was fully vested and exercisable on the transaction date.

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

An indirect trust position holds 114,725 Class A shares following the transactions. A footnote also describes 127,735 shares of Class A common stock underlying restricted stock units, subject to forfeiture until vesting, plus 2.5592 shares reported as held indirectly by a son.

Were the Dolby (DLB) insider transactions made through a trust or personally?

The option exercise and related share sale are reported with indirect ownership "By a trust". Canonical holdings list 114,725 shares of Class A common stock held indirectly by a trust, and a small indirect position of 2.5592 shares held "By a son."

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/14/2025 - 05:01 PM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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)
08/12/2025

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	08/12/2025		M		25,000	A	$45.5	139,725	I	By a trust(1)
Class A Common Stock	08/12/2025		S		25,000	D	$72.3131(2)	114,725	I	By a trust(1)
Class A Common Stock								127,735(3)	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	08/12/2025		M			25,000	(4)	12/15/2026	Class A Common Stock	25,000	$0	85,615	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 $71.63 to $72.59, 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.

3. 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.

4. 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.

	/s/ Daniel Rodriguez as Attorney-in-Fact for Kevin Yeaman	08/14/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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