Ownership Submission
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

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(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
Dolby Dagmar
  2. Issuer Name and Ticker or Trading Symbol
Dolby Laboratories, Inc. [DLB]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 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 (Month/Day/Year)
01/22/2014
(Street)

SAN FRANCISCO, CA 94103
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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) 01/22/2014   C   20,000 A $ 0 20,000 I By Trust (3)
Class A Common Stock 01/22/2014   S   20,000 D $ 40.5437 (9) 0 I By Trust (3)
Class A Common Stock (1) 01/22/2014   C   7,500 A $ 0 7,500 I By Trust (4)
Class A Common Stock 01/22/2014   S   7,500 D $ 40.5448 (10) 0 I By Trust (4)
Class A Common Stock (1) 01/22/2014   C   7,500 A $ 0 7,500 I By Trust (5)
Class A Common Stock 01/22/2014   S   7,500 D $ 40.5461 (11) 0 I By Trust (5)
Class A Common Stock (1) 01/23/2014   C   20,000 A $ 0 20,000 I By Trust (3)
Class A Common Stock 01/23/2014   S   15,123 D $ 40.3167 (12) 4,877 I By Trust (3)
Class A Common Stock 01/23/2014   S   4,877 D $ 41.2599 (13) 0 I By Trust (3)
Class A Common Stock (1) 01/23/2014   C   7,500 A $ 0 7,500 I By Trust (4)
Class A Common Stock 01/23/2014   S   5,803 D $ 40.324 (14) 1,697 I By Trust (4)
Class A Common Stock 01/23/2014   S   1,697 D $ 41.2713 (15) 0 I By Trust (4)
Class A Common Stock (1) 01/23/2014   C   7,500 A $ 0 7,500 I By Trust (5)
Class A Common Stock 01/23/2014   S   5,785 D $ 40.3255 (16) 1,715 I By Trust (5)
Class A Common Stock 01/23/2014   S   1,715 D $ 41.2601 (17) 0 I By Trust (5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(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
Class B Common Stock (2) 01/22/2014   C     20,000   (2)   (2) Class A Common Stock 20,000 $ 0 38,915,848 I By Trust (3)
Class B Common Stock (2) 01/22/2014   C     7,500   (2)   (2) Class A Common Stock 7,500 $ 0 1,227,665 I By Trust (4)
Class B Common Stock (2) 01/22/2014   C     7,500   (2)   (2) Class A Common Stock 7,500 $ 0 1,627,665 I By Trust (5)
Class B Common Stock (2) 01/23/2014   C     15,123   (2)   (2) Class A Common Stock 15,123 $ 0 38,900,725 I By Trust (3)
Class B Common Stock (2) 01/23/2014   C     4,877   (2)   (2) Class A Common Stock 4,877 $ 0 38,895,848 I By Trust (3)
Class B Common Stock (2) 01/23/2014   C     5,803   (2)   (2) Class A Common Stock 5,803 $ 0 1,221,862 I By Trust (4)
Class B Common Stock (2) 01/23/2014   C     1,697   (2)   (2) Class A Common Stock 1,697 $ 0 1,220,165 I By Trust (4)
Class B Common Stock (2) 01/23/2014   C     5,785   (2)   (2) Class A Common Stock 5,785 $ 0 1,621,880 I By Trust (5)
Class B Common Stock (2) 01/23/2014   C     1,715   (2)   (2) Class A Common Stock 1,715 $ 0 1,620,165 I By Trust (5)
Class B Common Stock (2)               (2)   (2) Class A Common Stock (2)   4,582,600 I By Trust (6)
Class B Common Stock (2)               (2)   (2) Class A Common Stock (2)   4,582,600 I By Trust (7)
Class B Common Stock (2)               (2)   (2) Class A Common Stock (2)   2,500,000 I By Family LLC (8)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Dolby Dagmar
C/O DOLBY LABORATORIES, INC.
100 POTRERO AVENUE
SAN FRANCISCO, CA 94103
    X    
Ray Dolby Trust under the Dolby Family Trust instrument, dated May 7, 1999
C/O DOLBY LABORATORIES, INC.
100 POTRERO AVENUE
SAN FRANCISCO, CA 94103
    X    

Signatures

 /s/ Daniel Rodriguez, Attorney-in-Fact for Dagmar Dolby   01/24/2014
**Signature of Reporting Person Date

 /s/ Daniel Rodriguez, Attorney-in-Fact for the Ray Dolby Trust under the Dolby Family Trust Instrument, dated May 7, 1999   01/24/2014
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(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) Shares of Class B Common Stock are convertible at any time at the option of the holder into shares of Class A Common Stock on a 1-for-1 basis.
(3) Reflects shares of Class B Common Stock (as converted or convertible into, as applicable, a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby Trust under the Dolby Family Trust instrument, dated May 7, 1999 (the "Ray Dolby Trust"). This report is filed jointly by Dagmar Dolby and the Ray Dolby Trust with respect to securities held by the Ray Dolby Trust. The reporting persons disclaim beneficial ownership of these securities except to the extent of their respective pecuniary interest therein.
(4) Reflects shares of Class B Common Stock (as converted or convertible into, as applicable, a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2002 Trust A dated April 19, 2002 (the "Ray Dolby 2002 Trust A"), voting power of which is held by Thomas E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2002 Trust A. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2002 Trust A. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
(5) Reflects shares of Class B Common Stock (as converted or convertible into, as applicable, a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2002 Trust B dated April 19, 2002 (the "Ray Dolby 2002 Trust B"), voting power of which is held by David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2002 Trust B. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2002 Trust B. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
(6) Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2011 Trust A, dated December 14, 2011 (the "Ray Dolby 2011 Trust A"), voting power of which is held by Thomas E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2011 Trust A. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2011 Trust A. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
(7) Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dagmar Dolby as the Trustee of the Ray Dolby 2011 Trust B, dated December 14, 2011 (the "Ray Dolby 2011 Trust B"), voting power of which is held by David E. Dolby, son of Dagmar Dolby, as Special Trustee of the Ray Dolby 2011 Trust B. This report is filed by Dagmar Dolby with respect to the securities held by the Ray Dolby 2011 Trust B. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
(8) Reflects shares of Class B Common Stock (convertible into a like number of shares of Class A Common Stock) held of record by Dolby Holdings II LLC, a limited liability company (the "Family LLC"), investment power of which is held by Dagmar Dolby, manager of the Family LLC, and voting power of which is held by (i) Thomas E. Dolby, son of Dagmar Dolby and a special manager of the Family LLC, with respect to 50% of such shares, and (ii) David E. Dolby, son of Dagmar Dolby and a special manager of the Family LLC, with respect to 50% of such shares. This report is filed by Dagmar Dolby with respect to the securities held by the Family LLC. The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
(9) This transaction was executed in multiple trades at prices ranging from $40.43 to $40.72. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(10) This transaction was executed in multiple trades at prices ranging from $40.435 to $40.67. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(11) This transaction was executed in multiple trades at prices ranging from $40.43 to $40.72. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(12) This transaction was executed in multiple trades at prices ranging from $40 to $40.87. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(13) This transaction was executed in multiple trades at prices ranging from $41 to $41.53. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(14) This transaction was executed in multiple trades at prices ranging from $40 to $40.92. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(15) This transaction was executed in multiple trades at prices ranging from $41.07 to $41.56. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(16) This transaction was executed in multiple trades at prices ranging from $40 to $40.92. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
(17) This transaction was executed in multiple trades at prices ranging from $41.02 to $41.53. The price reported above reflects the weighted average price. The reporting person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
 
Remarks:
***All of the sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan***

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.