Dolby Dagmar 4

What Happened

• Dagmar Dolby, a reported 10% owner of Dolby Laboratories (DLB), effected several non‑cash transactions on February 25, 2026. Key moves: conversion of Class B shares into Class A shares (10,000 shares), a charitable gift of 10,000 Class A shares, and a contribution/transfer of 1,000,000 Class B shares into a newly formed grantor retained annuity trust (Dagmar Dolby 2026 Trust AA). All conversions were 1-for-1 at no cost and all transfers were reported as gifts or tax/estate planning transfers (no cash changed hands).

Key Details

• Transaction date: February 25, 2026 (Form 4 filed Feb 27, 2026).
• Specific line items (all $0 per share because conversions/transfers/gifts):
  • Converted 10,000 Class B → 10,000 Class A (acquired via conversion).
  • Gifted 10,000 Class A shares to an unaffiliated charitable organization (disposition).
  • Contributed/transferred 1,000,000 Class B shares to Dagmar Dolby 2026 Trust AA for estate planning (reported as a gift/transfer for no value).
  • Other administrative entries reflect conversion/disposition bookkeeping for the same 10,000-share block.
• Shares after transaction: the filing reports holdings are held of record by various trusts and LLCs (Dagmar Dolby as trustee/manager) and the reporting person disclaims beneficial ownership except to the extent of pecuniary interest; the excerpt does not state a single consolidated post‑transaction total.
• Notable footnotes: Class B shares are convertible 1-for-1 into Class A at no cost (F1, F4). The 1,000,000‑share contribution was a tax/estate planning transfer to a newly formed grantor retained annuity trust and was reported voluntarily though treated as a change in form of indirect ownership (F5, F6). The 10,000‑share charitable gift was exempt under Rule 16b‑5 (F2).
• Timeliness: Form filed two days after the transactions; no late filing flagged in the provided materials.

Context

• These moves are transfers/gifts and conversions for estate planning and charitable purposes — not open‑market buys or sales that signal trading sentiment. Gifts and intra‑family trust transfers are common for tax and estate planning and should not be interpreted as a market valuation judgement by the insider.
• As a reported 10% owner rather than a company executive, these filings reflect changes in record ownership structures (trusts/LLCs) and conversions of convertible class stock rather than routine executive compensation or option exercises.