DLB · Dolby Laboratories, Inc. · Insider Trading

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On October 2, 2026, the Marital Trust (as defined below) transferred 24,108,162 shares of Class B Common Stock to the Dagmar Dolby Trust (as defined below). Such share transfer was effected solely for tax and estate planning purposes, and was a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. As a change in form of indirect beneficial ownership only, the share transfer would be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Act. The reporting persons are voluntarily reporting the share transfer on this Form 4.

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On October 2, 2026, the Marital Trust (as defined below) transferred 24,108,162 shares of Class B Common Stock to the Dagmar Dolby Trust (as defined below). Such share transfer was effected solely for tax and estate planning purposes, and was a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. As a change in form of indirect beneficial ownership only, the share transfer would be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Act. The reporting persons are voluntarily reporting the share transfer on this Form 4.

Reflects shares of Class B Common Stock held of record by Dagmar Dolby as the Trustee of the Marital Trust under the Dolby Family Trust instrument, dated May 7, 1999 (the "Marital Trust"), voting power of which is shared by the Trustee and David E. Dolby as Special Trustee of the Marital Trust. This report is filed jointly by Dagmar Dolby and the Marital Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust.The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares held following the reported transactions include 103,190 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

This option was granted for a total of 46,000 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.

The shares were sold in multiple transactions at prices ranging from $59.32 to $59.41, 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.

Shares held following the reported transactions include 103,190 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

The shares were sold in multiple transactions at prices ranging from $58.275 to $59.255, 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.

Shares held following the reported transactions include 103,190 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

The award represents a total of 160,256 restricted stock units granted under the terms of the Issuer's 2026 Inducement Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/4 of the total number of units shall vest on March 15, 2027 and each six-month anniversary thereafter, subject to the Reporting Person's continued employment with the Issuer on each scheduled vesting date. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

Shares held following the reported transactions include 160,256 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

The award of 600,000 performance-based restricted stock units granted under the terms of the Issuer's 2026 Inducement Stock Plan is divided into five separate tranches of 150,000, 150,000, 100,000, 100,000 and 100,000 restricted stock units, respectively, with the tranches becoming eligible to vest upon satisfying stock-price hurdles of $75, $100, $125, $150, and $175, respectively, averaged over a consecutive sixty trading-day period within a five year performance period, with such achievement subject to adjustment to account for dividends, distributions, stock splits and other capitalization changes. The eligible shares will vest on certification of each level of achievement, assuming the Reporting Person's continued employment as the Issuer's Chief Executive Officer on each achievement date. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

Award represents a total of 48,076 restricted stock units granted under the terms of the Issuer's 2020 Stock Plan. Under the terms of the restricted stock unit grant agreement, 100% of the units shall vest on September 15, 2028, subject to the Reporting Person continuing to be a service provider through such date. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

Shares held following the reported transactions include 103,190 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Award represents a total of 48,076 restricted stock units granted under the terms of the Issuer's 2020 Stock Plan. Under the terms of the restricted stock unit grant agreement, 100% of the units shall vest on September 15, 2028, subject to the Reporting Person continuing to be a service provider through such date. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.

Shares held following the reported transactions include 101,712 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares include 385 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2026.

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.

This option was granted for a total of 46,000 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.

The shares were sold in multiple transactions at prices ranging from $60.65 to $61.25, 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.

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.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On August 28, 2026, the Dagmar Dolby Trust contributed a total of 2,000,000 shares of Class B Common Stock: 1,000,000 to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust AA-2 (as defined below) and 1,000,000 to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust BB (as defined below). Such share contributions were effected solely for tax and estate planning purposes, and were each a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. As such a change in form of indirect beneficial ownership only, applicable rules consider each a share contribution to be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Act, and as a result the reporting persons are voluntarily reporting such share contribution on this Form 4.

Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby 2026 Trust BB, dated August 25, 2026 (the "Dagmar Dolby 2026 Trust BB"), voting power over which is held by David E. Dolby as Special Trustee of the Dagmar Dolby 2026 Trust BB. This report is filed by Dagmar Dolby with respect to the securities held by the Dagmar Dolby 2026 Trust BB. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On August 28, 2026, the Dagmar Dolby Trust contributed a total of 2,000,000 shares of Class B Common Stock: 1,000,000 to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust AA-2 (as defined below) and 1,000,000 to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust BB (as defined below). Such share contributions were effected solely for tax and estate planning purposes, and were each a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. As such a change in form of indirect beneficial ownership only, applicable rules consider each a share contribution to be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Act, and as a result the reporting persons are voluntarily reporting such share contribution on this Form 4.

Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby 2026 Trust AA-2, dated August 25, 2026 (the "Dagmar Dolby 2026 Trust AA-2"), voting power over which is held by David E. Dolby as Special Trustee of the Dagmar Dolby 2026 Trust AA-2. This report is filed by Dagmar Dolby with respect to the securities held by the Dagmar Dolby 2026 Trust AA-2. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Each share of Class A Common Stock was issued upon conversion of one share of Class B Common Stock at the election of, and at no cost to, the reporting person.

On August 28, 2026, the Dagmar Dolby Trust (as defined below) converted 300,000 shares of Class B Common Stock into a like number of shares of Class A Common Stock and gifted all such shares of Class A Common Stock to an unaffiliated charitable organization. The gift transaction is exempt from Section 16(b) by virtue of Rule 16b-5 promulgated under the Securities Exchange Act of 1934, as amended (the "Act").

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On August 28, 2026, the Dagmar Dolby Trust contributed a total of 2,000,000 shares of Class B Common Stock: 1,000,000 to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust AA-2 (as defined below) and 1,000,000 to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust BB (as defined below). Such share contributions were effected solely for tax and estate planning purposes, and were each a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. As such a change in form of indirect beneficial ownership only, applicable rules consider each a share contribution to be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Act, and as a result the reporting persons are voluntarily reporting such share contribution on this Form 4.

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On August 28, 2026, the Dagmar Dolby Trust (as defined below) converted 300,000 shares of Class B Common Stock into a like number of shares of Class A Common Stock and gifted all such shares of Class A Common Stock to an unaffiliated charitable organization. The gift transaction is exempt from Section 16(b) by virtue of Rule 16b-5 promulgated under the Securities Exchange Act of 1934, as amended (the "Act").

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

On August 28, 2026, the Dagmar Dolby Trust (as defined below) converted 300,000 shares of Class B Common Stock into a like number of shares of Class A Common Stock and gifted all such shares of Class A Common Stock to an unaffiliated charitable organization. The gift transaction is exempt from Section 16(b) by virtue of Rule 16b-5 promulgated under the Securities Exchange Act of 1934, as amended (the "Act").

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares held following the reported transaction includes 19,303 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares held following the reported transactions include 46,938 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares held following the reported transaction includes 19,303 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares held following the reported transaction includes 19,303 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares include 385 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2026.

The shares were sold in multiple transactions at prices ranging from $58.89 to $59.46, 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.

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.

This option was granted for a total of 46,000 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.

The shares were sold in multiple transactions at prices ranging from $59.895 to $60.385, 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.

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.

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.

This option was granted for a total of 46,000 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.

The shares were sold in multiple transactions at prices ranging from $52.96 to $53.50, 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.

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.

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.

The shares were sold in multiple transactions at prices ranging from $55.15 to $56.105 , 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 3, 2026.

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.

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.

This option was granted for a total of 46,000 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.

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.

Shares include 374 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2026.

The shares were sold in multiple transactions at prices ranging from $54.315 to $55.08 , 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.

Shares held following the reported transaction includes 41,480 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

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.

Shares held following the reported transactions include 46,938 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

The shares were sold pursuant to a 10b5-1 trading plan adopted on August 22, 2025.

Shares held following the reported transactions include 59,172 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares include 385 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2026.

The shares were sold in multiple transactions at prices ranging from $56.335 to $57.13 , 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.

Shares held following the reported transaction includes 48,874 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares held following the reported transaction includes 48,874 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

The shares were sold in multiple transactions at prices ranging from $58.195 to $58.36, 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 3, 2026.

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.

This option was granted for a total of 46,000 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.

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.

The shares were sold in multiple transactions at prices ranging from $57.16 to $58.05 , 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 3, 2026.

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.

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.

Shares held following the reported transaction included 3,908 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On February 25, 2025, the Dagmar Dolby Trust (as defined below) converted 10,000 shares of Class B Common Stock into a like number of shares of Class A Common Stock and gifted all such shares of Class A Common Stock to an unaffiliated charitable organization. The gift transaction is exempt from Section 16(b) by virtue of Rule 16b-5 promulgated under the Act.

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On February 25, 2026, the Dagmar Dolby Trust contributed 1,000,000 shares of Class B Common Stock to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust AA (as defined below). Such share contribution was effected solely for tax and estate planning purposes, and was a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. As a change in form of indirect beneficial ownership only, applicable rules consider such a share contribution to be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Act, and as a result the reporting persons are voluntarily reporting such share contribution on this Form 4.

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Shares of Class B Common Stock are convertible, at no cost, at any time at the election of the holder into shares of Class A Common Stock on a 1-for-1 basis.

On February 25, 2026, the Dagmar Dolby Trust contributed 1,000,000 shares of Class B Common Stock to a newly formed grantor retained annuity trust, the Dagmar Dolby 2026 Trust AA (as defined below). Such share contribution was effected solely for tax and estate planning purposes, and was a transfer for no value without the payment or receipt of any funds or other consideration by any reporting person in exchange therefor. As a change in form of indirect beneficial ownership only, applicable rules consider such a share contribution to be exempt from the reporting requirements of Section 16(a) and the provisions of Section 16(b) of the Act, and as a result the reporting persons are voluntarily reporting such share contribution on this Form 4.

Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby 2026 Trust AA, dated February 25, 2026 (the "Dagmar Dolby 2026 Trust AA"), voting power over which is held by David E. Dolby as Special Trustee of the Dagmar Dolby 2026 Trust AA. This report is filed by Dagmar Dolby with respect to the securities held by the Dagmar Dolby 2026 Trust AA. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

On February 25, 2025, the Dagmar Dolby Trust (as defined below) converted 10,000 shares of Class B Common Stock into a like number of shares of Class A Common Stock and gifted all such shares of Class A Common Stock to an unaffiliated charitable organization. The gift transaction is exempt from Section 16(b) by virtue of Rule 16b-5 promulgated under the Act.

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Each share of Class A Common Stock was issued upon conversion of one share of Class B Common Stock at the election of, and at no cost to, the reporting person.

On February 25, 2025, the Dagmar Dolby Trust (as defined below) converted 10,000 shares of Class B Common Stock into a like number of shares of Class A Common Stock and gifted all such shares of Class A Common Stock to an unaffiliated charitable organization. The gift transaction is exempt from Section 16(b) by virtue of Rule 16b-5 promulgated under the Act.

Reflects shares held of record by Dagmar Dolby as the Trustee of the Dagmar Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999 (the "Dagmar Dolby Trust"), voting power of which is shared by the Trustee and David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Dagmar Dolby Trust. This report is filed jointly by Dagmar Dolby and the Dagmar Dolby Trust with respect to the securities held and transactions effected by the Dagmar Dolby Trust. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.