TEVANIAN AVADIS 4

What Happened

• Avadis Tevanian, a director of Dolby Laboratories, was granted 3,908 restricted stock units (RSUs) on February 3, 2026. The grant price reported is $0.00 (no cash payment). Each RSU represents the right to receive one share of the issuer's Class A common stock upon vesting. The award has a contingent value equal to the market price of the underlying shares when/if they vest.

Key Details

• Transaction date and price: 2026-02-03; grant reported at $0.00 per unit (award/grant, code A).
• Vesting: RSUs vest on the earlier of (i) the first anniversary of the grant or (ii) the day before Dolby’s 2027 annual meeting, provided Mr. Tevanian remains a board member on the vesting date (see footnote F1).
• Shares held after transaction: 3,908 shares underlying RSUs are reported as held but are subject to forfeiture until they vest (footnote F2).
• Ownership vehicle: Holdings reported include Avadis Tevanian Jr. and Nancy Tevanian Trust u/a/d May 29, 1996 (footnote F3).
• Filing timeliness: Form 4 was filed Feb 5, 2026 for a Feb 3 transaction — filed within the usual two-business-day window (timely).

Context

• RSU grants to directors are common as compensation and are not an open-market buy or sell; they do not by themselves indicate buying/selling sentiment. These RSUs convert to Class A shares only if and when they vest and are not tradable until that time.