Nicholson Ryan 4

What Happened

• Ryan Nicholson, Vice President, Chief Accounting Officer and Corporate Controller of Dolby Laboratories, exercised options to acquire 2,667 shares of Class A common stock at $45.50 per share (cost = $121,349) on 2026-02-13, and the same day sold those 2,667 shares in the open market at a weighted average price of $66.38 per share (proceeds ≈ $177,023). The Form 4 also shows the derivative (the option) was disposed (converted) in the exercise.

Key Details

• Transaction date: February 13, 2026.
• Exercise: 2,667 shares @ $45.50 (total exercise cost $121,349). Footnote F3: the option exercised was fully vested and exercisable.
• Sale: 2,667 shares sold at weighted average $66.38 (total proceeds $177,023). Footnote F2: shares were sold in multiple trades at $66.37–$66.39; weighted average reported.
• Shares held after the transactions: holdings include 19,303 shares underlying restricted stock units subject to forfeiture until they vest (footnote F1).
• Filing: Form 4 filed 2026-02-17 for transactions on 2026-02-13 — the filing appears to be timely (within required business-day window).

Context

• This is effectively a cashless exercise: the insider exercised vested options and sold the acquired shares the same day, which is a routine way to cover the exercise price and taxes. Such sales are common and do not necessarily indicate changed sentiment about the company.