Form 4: Dolby Laboratories CEO Kevin Yeaman Reports Stock Purchase by Family Member
SEC Form 4 Filing
Dolby Laboratories CEO Kevin Yeaman reports an indirect purchase of Class A Common Stock by a family member, along with adjustments to his beneficial ownership.
Summary
- On June 17, 2024, a family member of Kevin Yeaman, the President and CEO of Dolby Laboratories, indirectly purchased 2.5592 shares of Class A Common Stock at a price of $78.15 per share.
- This purchase occurred without Mr. Yeaman's prior knowledge, and he was made aware of the transaction within two business days of the report.
- Mr. Yeaman also reports beneficial ownership of 83,271 shares held by the Kevin and Rachel Yeaman Family Trust dated May 14, 2009.
- Additionally, he directly owns 120,320 shares of Class A Common Stock, including restricted stock units subject to forfeiture until they vest.
- A previous sale by Mr. Yeaman on January 17, 2024, at a maximum price of $83.92 per share was matchable under Section 16(b) of the Securities Exchange Act of 1934.
- Mr. Yeaman has paid $14.77 to Dolby Laboratories, representing the full amount of the profit imputed to him in connection with the matching transactions.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions by a company insider. The sentiment is neutral as it simply reports facts without indicating a positive or negative outlook for the company.
Industry Context
This is a standard SEC Form 4 filing, which is a routine part of corporate governance and transparency, providing insight into the trading activities of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider trading activities.
Key Dates
| Date | Description |
|---|---|
| 2009-05-14 | Date of the Kevin and Rachel Yeaman Family Trust |
| 2024-01-17 | Date of a sale by the reporting person of DLB Class A common stock at a maximum price of $83.92 per share |
| 2024-06-17 | Date of the indirect purchase of Class A Common Stock by a family member |
| 2024-06-25 | Date of signature of the Form 4 filing |
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