FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Couling John D
  2. Issuer Name and Ticker or Trading Symbol
Dolby Laboratories, Inc. [DLB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP, Entertainment
(Last)
(First)
(Middle)
C/O DOLBY LABORATORIES, INC., 1275 MARKET STREET		 3. Date of Earliest Transaction (Month/Day/Year)
02/08/2024
(Street)

SAN FRANCISCO, CA 94103		 4. If Amendment, Date Original Filed (Month/Day/Year)
02/12/2024		 6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 02/08/2024   M(1)   50,000 A $ 42.98 158,519 (2) D  
Class A Common Stock 02/08/2024   S(1)   50,000 D $ 80 108,519 (2) D  
Class A Common Stock 02/09/2024   M(1)   12,440 A $ 42.98 120,959 (2) D  
Class A Common Stock 02/09/2024   M(1)   21,120 A $ 62.32 142,079 (2) D  
Class A Common Stock 02/09/2024   S(1)   33,560 D $ 80.8074 (3) 108,519 (2) D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5) 		6. Date Exercisable and Expiration Date
(Month/Day/Year) 		7. Title and Amount of Underlying Securities
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4) 		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) $ 42.98 02/08/2024   M(1)     50,000   (4) 12/15/2024 Class A Common Stock 50,000 $ 0 12,440 D  
Employee Stock Option (Right to Buy) $ 42.98 02/09/2024   M(1)     12,440   (4) 12/15/2024 Class A Common Stock 12,440 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 62.32 02/09/2024   M(1)     21,120   (5) 12/15/2024 Class A Common Stock 21,120 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Couling John D
C/O DOLBY LABORATORIES, INC.
1275 MARKET STREET
SAN FRANCISCO, CA 94103		       SVP, Entertainment  

Signatures

 /s/ Daniel Rodriguez as Attorney-in-Fact for John Couling   02/12/2024
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The original Form 4 did not report that option exercises and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 21, 2023.
(2) Shares held following the reported transactions include 45,029 shares of Class A common stock underlying restricted stock units, which are subject to forfeiture until they vest.
(3) The shares were sold in multiple transactions at prices ranging from $80.45 to $81.07, 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.
(4) This option was granted for a total of 62,440 shares of Class A Common Stock. The option exercised in this transation was fully vested and exercisable as of the transaction date.
(5) This performance-based stock option award was granted for a total of 23,000 shares of Class A Common Stock at target. The number of shares actually earned and vested upon the achievement of total shareholder return performance criteria measured during a three-year performance period ended on December 15, 2020 was at 96% of target, or 21,120. shares.

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