Form 4: Dolby Director Dagmar Dolby Gifts 415,000 Shares to Charity After Converting Class B Stock

Dagmar Dolby, a director at Dolby Laboratories, converted 415,000 shares of Class B Common Stock to Class A and donated them to an unaffiliated charitable organization on May 13, 2024.

Summary

• On May 13, 2024, Dagmar Dolby, a director of Dolby Laboratories, converted 415,000 shares of Class B Common Stock into Class A Common Stock.
• Following the conversion, Ms. Dolby gifted these 415,000 shares of Class A Common Stock to an unaffiliated charitable organization.
• The shares were held in the Dagmar Dolby Trust.
• Ms. Dolby also holds shares indirectly through various trusts and LLCs, including the Ray Dolby 2002 Trust A and B, the Dagmar Dolby 2016 Trust B, the Marital Trust, Dolby Holdings II LLC, and Dolby Holdings III LLC.
• She disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
• The filing also indicates that shares of Class B Common Stock are convertible into Class A Common Stock on a 1-for-1 basis at any time at the election of the holder.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports a transaction. The charitable donation is a positive aspect, but the filing itself is a standard procedure.

Positives

• The donation of shares to a charitable organization is a philanthropic gesture.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider and doesn't necessarily reflect broader industry trends.

Stakeholder Impact

• The donation of shares may have a minor positive impact on the company's reputation.

Key Dates