Edgar Filing: Borchers Bob

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 ^*

Borchers Bob

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 & Chief Marketing Officer

(Last)

(First)

(Middle)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2017

(Street)

SAN FRANCISCO, CA 94103

4. If Amendment, Date Original Filed(Month/Day/Year)
11/17/2017

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	11/15/2017		M		26,354	A	$ 33.15	76,455 ⁽¹⁾ ⁽²⁾	D
Class A Common Stock	11/15/2017		S		26,354	D	$ 61.0025 ⁽³⁾	50,101 ⁽¹⁾ ⁽²⁾	D
Class A Common Stock	11/15/2017		M		23,646	A	$ 41.31	73,747 ⁽¹⁾ ⁽²⁾	D
Class A Common Stock	11/15/2017		S		23,646	D	$ 61.0025 ⁽³⁾	50,101 ⁽¹⁾ ⁽²⁾	D
Class A Common Stock	11/16/2017		M		16,821	A	$ 41.31	66,922 ⁽¹⁾ ⁽²⁾	D
Class A Common Stock	11/16/2017		S		16,821	D	$ 61.0904 ⁽⁴⁾	50,101 ⁽¹⁾ ⁽²⁾	D
Class A Common Stock	11/17/2017		M		50,000	A	$ 41.31	100,101 ⁽¹⁾ ⁽²⁾	D
Class A Common Stock	11/17/2017		S		50,000	D	$ 61.3235 ⁽⁵⁾	50,101 ⁽¹⁾ ⁽²⁾	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)

$ 33.15

11/15/2017

26,354

⁽⁶⁾

12/15/2025

Class A Common Stock

26,354

$ 0

28,646

Employee Stock Option (right to buy)

$ 41.31

11/15/2017

23,646

⁽⁷⁾

01/15/2024

Class A Common Stock

23,646

$ 0

195,404

Employee Stock Option (right to buy)

$ 41.31

11/16/2017

16,821

⁽⁷⁾

01/15/2024

Class A Common Stock

16,821

$ 0

178,583

Employee Stock Option (right to buy)

$ 41.31

11/17/2017

50,000

⁽⁷⁾

01/15/2014

Class A Common Stock

50,000

$ 0

128,583

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Borchers Bob C/O DOLBY LABORATORIES, INC. 1275 MARKET STREET SAN FRANCISCO, CA 94103			SVP & Chief Marketing Officer

Signatures

/s/ Daniel Rodriguez, Attorney-in-Fact for Bob Borchers		11/17/2017
^**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 40,748 restricted stock units, which are subject to forfeiture until they vest.
(2)	Shares include 526 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2017.
(3)	This transaction was executed in multiple trades at prices ranging from $61 to $61.10. 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 $61 to $61.27. 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 $61.31 to $61.41. 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 option was granted for a total of 55,000 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, 2015, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.
(7)	This option was granted for a total of 171,425 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vested on the first anniversary of January 15, 2014, the vesting commencement date, and the balance of the shares vest in equal monthly installments over the next 36 months thereafter.

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