Dolby Laboratories, Inc. · Stock award · Employee Stock Option (Right to Buy)

What does this filing report?

An SEC Form 4 filing for Dolby Laboratories, Inc. records a stock award involving Employee Stock Option (Right to Buy) on December 15, 2025. The reported quantity was 56,440. 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

56,440

Conversion / exercise price

66.62

Exercise date

Not reported

Expiration date

December 15, 2035

Filing footnotes & remarks

F1

Award represents a total of 25,633 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 74,159 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

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.

F5

Shares held following the reported transactions include 60,297 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

F6

Shares held following the reported transactions include 55,114 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

F7

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.

F8

This option was granted for a total of 56,440 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.

F9

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 10,557 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 6,825 PSUs. The remaining 3,732 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.