Dolby Laboratories, Inc.
Dolby Laboratories, Inc. (Form: 4, Received: 12/02/2005 19:08:50)
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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

ROBERTSON SANFORD
2. Issuer Name and Ticker or Trading Symbol

Dolby Laboratories, Inc. [ DLB ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

C/O DOLBY LABORATORIES, INC., 100 POTRERO AVENUE
3. Date of Earliest Transaction (MM/DD/YYYY)

12/1/2005
(Street)

SAN FRANCISCO, CA 94103
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   (1) 12/1/2005     C    70000   A $0   70000   D    
Class A Common Stock   12/1/2005     G   V 70000   D $0   0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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)   $1.26   12/1/2005           40000      (2) 6/23/2013   Class B Common Stock   40000   $0   20000   D    
Employee Stock Option (Right to Buy)   $2.08   12/1/2005           20000      (3) 4/21/2014   Class B Common Stock   20000   $0   40000   D    
Employee Stock Option (Right to Buy)   $2.08   12/1/2005           10000      (4) 8/3/2014   Class B Common Stock   10000   $0   20000   D    
Class B Common Stock   $0   (5) 12/1/2005        40000         (5)   (5) Class A Common Stock   40000   $1.26   40000   D    
Class B Common Stock   $0   (5) 12/1/2005        20000         (5)   (5) Class A Common Stock   20000   $2.08   60000   D    
Class B Common Stock   $0   (5) 12/1/2005        10000         (5)   (5) Class A Common Stock   10000   $2.08   70000   D    
Class B Common Stock   $0   (5) 12/1/2005           70000      (5)   (5) Class A Common Stock   70000   $0   0   D    

Explanation of Responses:
( 1)  Each share of Class A Common Stock issued upon conversion of one share of Class B Common Stock at the election of the reporting person.
( 2)  This option becomes exercisable ratably in three equal annual installments beginning on July 1, 2004, the first anniversary of the vesting commencement date.
( 3)  This option becomes exercisable ratably in three equal annual installments beginning on April 1, 2005, the first anniversary of the vesting commencement date.
( 4)  This option becomes exerciable ratably in three equal annual installments beginning on July 15, 2005, the first anniversary of the vesting commencement date.
( 5)  Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
ROBERTSON SANFORD
C/O DOLBY LABORATORIES, INC.
100 POTRERO AVENUE
SAN FRANCISCO, CA 94103
X


Signatures
/s/ Phyllis T. Solomon, Attorney-in-fact 12/2/2005
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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End of Filing
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