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Dolby Laboratories CEO sells shares

By Associated Press
June 6, 2008 | Comments (0)

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The president and chief executive at audio technology company Dolby Laboratories Inc. sold 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, N. William Jasper Jr. reported he sold the shares Wednesday for $46.50 to $47.29 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 non-public 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 is based in San Francisco.

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