DLB insider: CEO option exercise and matched share sales

Rhea-AI Filing Summary

Dolby Laboratories (DLB) reported insider activity by President & CEO and Director Kevin Yeaman. On 10/14/2025, he exercised an employee stock option for 25,000 Class A shares at $45.5 per share (code M), then sold 11,214 shares at a weighted average price of $68.5057 and 13,786 shares at a weighted average price of $69.173 (both code S), all held indirectly by a family trust. Following the reported transactions, 114,725 shares were beneficially owned indirectly by the trust. Holdings also include 127,735 RSUs that are subject to 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

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)
10/14/2025

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	10/14/2025		M		25,000	A	$45.5	139,725	I	By a trust(1)
Class A Common Stock	10/14/2025		S		11,214	D	$68.5057(2)	128,511	I	By a trust(1)
Class A Common Stock	10/14/2025		S		13,786	D	$69.173(3)	114,725	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	10/14/2025		M			25,000	(5)	12/15/2026	Class A Common Stock	25,000	$0	35,615	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 $67.83 to $68.81, 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. The shares were sold in multiple transactions at prices ranging from $68.89 to $69.35, 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.

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.

	/s/ Daniel Rodriguez as Attorney-in-Fact for Kevin Yeaman	10/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did DLB’s CEO transact on 10/14/2025?

He exercised an option for 25,000 shares at $45.5 and sold 11,214 and 13,786 shares at weighted average prices of $68.5057 and $69.173.

How many DLB shares does the trust hold after the transactions?

Following the transactions, 114,725 shares were beneficially owned indirectly by the family trust.

What were the sale price ranges disclosed for DLB shares?

Sales occurred in multiple transactions with ranges of $67.83–$68.81 and $68.89–$69.35; weighted averages reported.

What was the exercise price of the DLB stock option?

The option was exercised at $45.5 per share for 25,000 underlying Class A shares.

Does the CEO have additional equity awards at DLB?

Holdings include 127,735 shares underlying restricted stock units that are subject to forfeiture until they vest.

In what capacity does Kevin Yeaman serve at DLB?

He is a Director and serves as President and CEO.