Dolby Laboratories (NYSE: DLB) insider reports major equity awards

Rhea-AI Filing Summary

Dolby Laboratories senior vice president Shriram Revankar reported several equity compensation transactions. On December 15, 2025, he received 22,617 restricted stock units that vest in four annual installments starting December 15, 2025, and a new performance-based award covering 11,308 stock units tied to a three-year total shareholder return measure versus the S&P Mid Cap 400 Index.

He was also granted an employee stock option for 49,800 shares of Class A common stock at an exercise price of $66.62, vesting 25% after one year and monthly over the next 36 months until December 15, 2035. A prior performance-based award paid out at 64.65% of its 5,278-share target, so 3,412 units vested and 1,866 were cancelled, with shares withheld at $67.54 and $66.62 to cover taxes. After these transactions, he beneficially owns 86,218 Class A shares, including a large portion underlying unvested restricted stock units.

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).

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^*

Revankar Shriram

(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, Advanced Technology Group

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		22,617	A(1)	$0	90,052(2)	D
Class A Common Stock	12/15/2025		M		3,412	A	$0(3)	93,464(2)	D
Class A Common Stock	12/15/2025		F(4)		4,961	D	$67.54	88,503(5)	D
Class A Common Stock	12/16/2025		F(4)		2,285	D	$66.62	86,218(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		11,308		(7)	(7)	Class A Common Stock	11,308	$0	11,308	D
Employee Stock Option (Right to Buy)	$66.62	12/15/2025		A		49,800		(8)	12/15/2035	Class A Common Stock	49,800	$0	49,800	D
Performance-Based Restricted Stock Unit	(3)	12/15/2025		M			3,412	(9)	(9)	Class A Common Stock	3,412	$0	0	D

Explanation of Responses:

1. Award represents a total of 22,617 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 70,383 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 63,707 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 59,172 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 49,800 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 5,278 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 3,412 PSUs. The remaining 1,866 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 Shriram Revankar	12/17/2025
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did Dolby Laboratories (DLB) report for Shriram Revankar?

The filing shows equity compensation activity for SVP Shriram Revankar, including new restricted stock units, performance-based units, stock options, vesting of a prior performance award, and share withholdings to cover taxes.

How many restricted stock units were granted to the Dolby (DLB) executive and how do they vest?

He received 22,617 restricted stock units under Dolby's 2020 Stock Plan. One quarter of the units vests on each anniversary of December 15, 2025, and each unit converts into one share of Class A common stock upon vesting.

What are the terms of the new performance-based stock unit award reported by Dolby (DLB)?

The executive was granted 11,308 performance-based restricted stock units at the target level. The award measures performance over a three-year period from December 15, 2025 to December 12, 2028, based on annualized total shareholder return versus the S&P Mid Cap 400 Index, with a potential payout from 0% to 200% of target after performance certification and service-based vesting.

What are the key details of the stock option grant disclosed by Dolby (DLB)?

The employee stock option covers 49,800 shares of Class A common stock at an exercise price of $66.62. 25% of the shares vest on the first anniversary of December 15, 2025, and the remaining shares vest in equal monthly installments over the next 36 months, with an expiration date of December 15, 2035.

How did the prior performance-based stock unit award pay out for the Dolby (DLB) executive?

A previous PSU award with a 5,278-share target vested based on performance measured from December 15, 2022 to December 10, 2025. Dolby's Compensation Committee certified achievement at 64.65% of target, resulting in 3,412 PSUs vesting and 1,866 PSUs being cancelled once the performance and service conditions were satisfied.

Why were some Dolby (DLB) shares reported as disposed of at $67.54 and $66.62?

The filing states that 4,961 shares on December 15, 2025 at $67.54 and 2,285 shares on December 16, 2025 at $66.62 were withheld by Dolby, in transactions exempt under Rule 16b-3, to cover withholding taxes related to restricted stock unit vesting.

How many Dolby (DLB) shares does the executive beneficially own after these transactions?

Following the reported transactions, the executive beneficially owns 86,218 shares of Dolby Class A common stock directly. This amount includes 59,172 shares underlying restricted stock units that remain subject to forfeiture until they vest.