Dolby Laboratories, Inc. · Stock award · Performance-Based Restricted Stock Unit

What does this filing report?

An SEC Form 4 filing for Dolby Laboratories, Inc. records a stock award involving Performance-Based Restricted Stock Unit on December 15, 2025. The reported quantity was 32,984. The filing date is December 17, 2025. This is one transaction record; amounts are not allocated among any joint reporting owners.

The acquisition category describes how securities were received. It does not by itself establish a cash purchase of common stock. Read the transaction code definitionsand the original filing before interpreting the amounts.

Derivative terms

Underlying security

Class A Common Stock

Underlying quantity

32,984

Conversion / exercise price

Not reported

Exercise date

Not reported

Expiration date

Not reported

Filing footnotes & remarks

F1

Award represents a total of 65,968 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.

F2

Shares held following the reported transactions include 193,703 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

F3

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

F4

Shares held following the reported transactions (i) include 193,703 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest and (ii) exclude 8,749 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the vesting of performance-based restricted stock units.

F5

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 or performance-based restricted stock units.

F6

Shares held following the reported transaction (i) include 157,390 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest and (ii) exclude 18,017 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the vesting of restricted stock units.

F7

Shares held following the reported transaction (i) include 143,784 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest and (ii) exclude 6,751 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the vesting of restricted stock units.

F8

The shares were sold in multiple transactions at prices ranging from $65.98 to $66.975, 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. The shares were sold pursuant to a 10b5-1 trading plan adopted on February 28, 2025.

F9

Includes 33,517 shares which were issued to and are now held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009 in connection with the reported transactions.

F10

By the Kevin and Rachel Yeaman Family Trust dated May 14, 2009

F11

The shares were sold in multiple transactions at prices ranging from $67.00 to $67.375, 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. The shares were sold pursuant to a 10b5-1 trading plan adopted on February 28, 2025.

F12

The shares were sold in multiple transactions at prices ranging from $66.49 to $67.48, 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. The shares were sold pursuant to a 10b5-1 trading plan adopted on February 28, 2025.

F13

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.

F14

This option was granted for a total of 145,252 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.

F15

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 27,273 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 17,633 PSUs. The remaining 9,640 PSUs were cancelled. The service-based vesting component of the PSU award was satisfied upon certification of the achievement of the performance criteria.

Footnotes are reproduced as plain text from the current source filing. For the full context, read the original SEC filing.