Park Robert J 4
4 · Dolby Laboratories, Inc. · Filed Dec 16, 2022
Insider Transaction Report
Form 4
Park Robert J
SVP & Chief Financial Officer
Transactions
- Award
Employee Stock Option (Right to Buy)
2022-12-15+31,677→ 31,677 totalExercise: $71.07Exp: 2032-12-15→ Class A Common Stock (31,677 underlying) - Award
Class A Common Stock
2022-12-15+17,595→ 48,016 total - Award
Performance-Based Restricted Stock Unit
2022-12-15+8,797→ 8,797 total→ Class A Common Stock (8,797 underlying)
Footnotes (5)
- [F1]Award represents a total of 17,595 restricted stock units granted under the terms of the Issuer's 2020 Stock Plan. Under the terms of the restricted stock unit grant agreement, 1/4 of the total number of units shall vest on each anniversary of December 15, 2022. Each unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon vesting.
- [F2]Shares held following the reported transactions include 42,738 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
- [F3]Shares include 197 shares acquired under the Issuer's Employee Stock Purchase Plan on November 15, 2022.
- [F4]The vesting of this performance-based restricted stock unit ("PSU") award is dependent upon achievement of performance criteria measured during a three-year performance period beginning on December 15, 2022 and ending December 10, 2025. Each PSU represents a right to receive, upon vesting, one share of Class A common stock. The number of shares reported is at the target award amount. The reporting person may potentially earn from 0% to 200% of the target award amount based on achievement of annualized total shareholder return compared to the S&P Mid Cap 400 Index at the end of the three-year performance period. The actual PSU award earned shall vest immediately upon certification by the Company's Compensation Committee of the achievement of the performance criteria, following the end of the three-year performance period.
- [F5]This option was granted for a total of 31,677 shares of Class A Common Stock. 1/4 of the total number of shares issuable under the option vests on the first anniversary of December 15, 2022, the vesting commencement date, and the balance of the shares in equal monthly installments over the next 36 months thereafter.