Form 4: Dolby Director Dagmar Dolby Converts and Gifts 500,000 Shares of Class A Common Stock
SEC Form 4 Filing
Dagmar Dolby, a director at Dolby Laboratories, converted 500,000 shares of Class B common stock to Class A common stock and then gifted them to a charitable organization.
Summary
- Dagmar Dolby, a director at Dolby Laboratories, converted 500,000 shares of Class B common stock into Class A common stock on November 21, 2024.
- The converted Class A shares were then gifted to an unaffiliated charitable organization.
- The conversion and gift were executed by the Dagmar Dolby Trust.
- Dagmar Dolby also holds a significant number of Class B shares through various trusts and LLCs, which are convertible to Class A shares on a 1-for-1 basis.
- The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
Sentiment
Score: 7
Explanation: The document reflects a standard transaction with a positive philanthropic element, resulting in a neutral to slightly positive sentiment.
Positives
- The conversion and gifting of shares to a charitable organization is a positive philanthropic action.
Industry Context
This filing is a routine disclosure of a transaction by a company insider and does not reflect any broader industry trends.
Comparison to Industry Standards
- Form 4 filings are standard practice for corporate insiders and are required by the SEC to ensure transparency in trading activities.
- The conversion and gifting of shares is not unusual for high-net-worth individuals and is a common method of charitable giving.
- The use of trusts and LLCs for holding shares is a common practice for estate planning and asset management.
Stakeholder Impact
- The gifting of shares to a charitable organization may have a positive impact on the community.
- The conversion of shares does not have a direct impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| May 7, 1999 | Date of the Dolby Family Trust instrument under which the Dagmar Dolby Trust and Marital Trust were established. |
| April 19, 2002 | Date of the Ray Dolby 2002 Trust A and Ray Dolby 2002 Trust B. |
| March 23, 2016 | Date of the Dagmar Dolby 2016 Trust B. |
| November 21, 2024 | Date of the conversion of 500,000 Class B shares to Class A shares and subsequent gift to a charitable organization. |
| November 22, 2024 | Date of the filing of the SEC Form 4. |
Keywords
Dolby Laboratories, Dagmar Dolby, Class A Common Stock, Class B Common Stock, Share Conversion, Charitable Gift, Beneficial Ownership, Trusts, LLCs, Director
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