Couling John D 4
4 · Dolby Laboratories, Inc. · Filed Jul 6, 2026
Research Summary
AI-generated summary of this filing
Dolby (DLB) SVP John Couling Exercises Options, Sells 7,667 Shares
What Happened
John D. Couling, Senior Vice President, Entertainment at Dolby Laboratories (DLB), exercised 7,667 stock options on July 1, 2026 at an exercise price of $45.50 per share (total cost $348,849) and sold the same 7,667 shares in the open market the same day at a weighted-average price of $53.20 per share (total proceeds $407,894). The exercise and immediate sale resulted in a gross difference of about $59,045 before taxes and fees. The Form 4 records the option exercise (transaction code M) and the open-market sale (transaction code S).
Key Details
- Transaction date: 2026-07-01. Form filed: 2026-07-06 (filed late relative to the typical 2-business-day deadline).
- Exercise: 7,667 shares at $45.50 — $348,849 total (code M). The exercised option was fully vested.
- Sale: 7,667 shares at weighted-average $53.20 — $407,894 total (code S). Reported sale prices ranged $52.96–$53.50; the filing shows a weighted average.
- Shares held after transaction: not fully itemized in the form; filing states it includes 55,114 shares underlying restricted stock units that remain subject to forfeiture until vesting (footnote).
- Footnotes: (F2) sale executed in multiple trades (range and weighted average disclosed); (F3) the option exercised was part of a larger 46,000-share grant and was fully vested.
Context
This was a cashless-style transaction: options were exercised and the resulting shares were sold the same day — common for executives to cover exercise costs and taxes. Such routine exercise-and-sell activity is different from a buy (which can be interpreted as a more direct bullish signal). The filing does not indicate a 10% owner or a gift; it reflects an executive-level option exercise and immediate sale.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
[F1]2026-07-01$45.50/sh+7,667$348,849→ 126,394 total - Sale
Class A Common Stock
[F2][F1]2026-07-01$53.20/sh−7,667$407,894→ 118,727 total - Exercise/Conversion
Employee Stock Option (Right to Buy)
[F3]2026-07-01−7,667→ 23,001 totalExercise: $45.50Exp: 2026-12-15→ Class A Common Stock (7,667 underlying)
Footnotes (3)
- [F1]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.
- [F2]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.
- [F3]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.