Dolby Labs executive exercises options

By Associated Press May 16, 2008 Comments (0)

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The executive vice president, products and technologies, of audio technology company Dolby Laboratories Inc. exercised options for 20,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.

In a Form 4 filed with the SEC, Timothy A. Partridge reported he exercised options for Class B shares and converted them to Class A Stock. He then sold all of the shares for $45.05 to $45.65 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan, which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Dolby Laboratories is based in San Francisco.

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