Edgar Filing: SHERMAN MARK ANDREW

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SHERMAN MARK ANDREW

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)
EVP, GEN. COUN. & SECRTY

(Last)

(First)

(Middle)

C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET

3. Date of Earliest Transaction (Month/Day/Year)
02/07/2018

(Street)

SAN FRANCISCO, CA 94103

4. If Amendment, Date 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

(City)

(State)

(Zip)

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	02/07/2018		S		1,554	D	$ 63.1	47,566 ⁽¹⁾	D
Class A Common Stock	02/07/2018		M		41,219	A	$ 28.24	88,785 ⁽¹⁾	D
Class A Common Stock	02/07/2018		S		33,818	D	$ 63.238 ⁽²⁾	54,967 ⁽¹⁾	D
Class A Common Stock	02/07/2018		S		7,401	D	$ 63.6724 ⁽³⁾	47,566 ⁽¹⁾	D
Class A Common Stock	02/07/2018		M		7,227	A	$ 30.49	54,793 ⁽¹⁾	D
Class A Common Stock	02/07/2018		S		7,227	D	$ 63.2 ⁽⁴⁾	47,566 ⁽¹⁾	D
Class A Common Stock	02/08/2018		M		31,554	A	$ 30.49	79,120 ⁽¹⁾	D
Class A Common Stock	02/08/2018		S		9,800	D	$ 60.4361 ⁽⁵⁾	69,320 ⁽¹⁾	D
Class A Common Stock	02/08/2018		S		18,000	D	$ 61.5552 ⁽⁶⁾	51,320 ⁽¹⁾	D
Class A Common Stock	02/08/2018		S		3,254	D	$ 62.1715 ⁽⁷⁾	48,066 ⁽¹⁾	D
Class A Common Stock	02/08/2018		S		500	D	$ 63.05	47,566 ⁽¹⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 28.24

02/07/2018

41,219

⁽⁸⁾

12/15/2021

Class A Common Stock

41,219

$ 0

Employee Stock Option (right to buy)

$ 30.49

02/07/2018

7,227

⁽⁹⁾

12/21/2022

Class A Common Stock

7,227

$ 0

54,473

Employee Stock Option (right to buy)

$ 30.49

02/08/2018

31,554

⁽⁹⁾

12/21/2022

Class A Common Stock

31,554

$ 0

22,919

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SHERMAN MARK ANDREW C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO, CA 94103			EVP, GEN. COUN. & SECRTY

Signatures

/s/ Daniel Rodriguez, Attorney-in-Fact for Andy Sherman		02/09/2018
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Shares held following the reported transactions include 33,002 restricted stock units, which are subject to forfeiture until they vest.
(2)	This transaction was executed in multiple trades at prices ranging from $62.5701 to $63.56. 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 $63.57 to $63.87. 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 $62.68 to $63.62. 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 transaction was executed in multiple trades at prices ranging from $59.97 to $60.92. 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.
(6)	This transaction was executed in multiple trades at prices ranging from $60.97 to $61.96. 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.
(7)	This transaction was executed in multiple trades at prices ranging from $61.97 to $62.53. 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.
(8)	This option was granted for a total of 94,219 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 15, 2011, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter.
(9)	This option was granted for a total of 61,700 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of December 21, 2012, the vesting commencement date, and the balance of the shares vested in equal monthly installments over the next 36 months thereafter.
Remarks: The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan.

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