Yeaman Kevin J Form 4 Dolby Laboratories / KEVIN J YEAMAN ownership change

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).

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)
04/28/2016

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	04/28/2016		M		26,000	A	$25.26	139,103	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009
Class A Common Stock	04/28/2016		S		23,900	D	$45.274(1)	115,203	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009
Class A Common Stock	04/28/2016		S		2,100	D	$46.4214(2)	113,103	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009
Class A Common Stock	04/29/2016		M		25,230	A	$25.26	138,333	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009
Class A Common Stock	04/29/2016		S		19,866	D	$47.134(3)	118,467	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009
Class A Common Stock	04/29/2016		S		5,364	D	$47.4319(4)	113,103	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009

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)	$25.26	04/28/2016		M			26,000	(5)	11/14/2016	Class A Common Stock	26,000	$0.00	25,230	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009
Employee Stock Option (right to buy)	$25.26	04/29/2016		M			25,230	(5)	11/14/2016	Class A Common Stock	25,230	$0.00	0	I	By the Kevin and Rachel Yeaman Family Trust, dated May 14, 2009

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $45 to $45.98. The price reported above reflects the weighted average 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.

2. This transaction was executed in multiple trades at prices ranging from $46 to $46.68. The price reported above reflects the weighted average 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. This transaction was executed in multiple trades at prices ranging from $46.38 to $47.375. The price reported above reflects the weighted average 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. This transaction was executed in multiple trades at prices ranging from $47.38 to $47.65. The price reported above reflects the weighted average 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.

5. This option was granted for a total of 65,230 shares of Class A Common Stock and became fully vested on November 14, 2010.

Remarks:

The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan.

	/s/ Daniel Rodriguez, Attorney-in-Fact for Kevin Yeaman	05/02/2016
	** 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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