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Based on this assessment and those criteria, management concluded that our internal control over financial reporting was effective as of September 29, 2023.
+Added: The Company acquired MPEG LA during fiscal 2023.
+Added: Management excluded from its assessment of the effectiveness of the Company's internal control over financial reporting as of September 29, 2023, MPEG LA's internal control over financial reporting which represented 12% of total assets and less than 1.5% of total revenue included in the consolidated financial statements of the Company as of and for the year ended September 29, 2023.
Our internal control over financial reporting has been audited by KPMG LLP, an independent registered public accounting firm, as stated in their report, which appears in Part II, Item 8 of this Annual Report on Form 10-K.
Changes in Internal Control Over Financial Reporting
−Removed: There were no changes in our internal control over financial reporting during the fiscal quarter ended September 30, 2022 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: Other than the impact of the acquisition of MPEG LA, there were no changes in our internal control over financial reporting during the fiscal quarter ended September 29, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
OTHER INFORMATION
+Added: Securities Trading Plans of Directors and Executive Officers
+Added: During the fiscal quarter ending September 29, 2023, the following officer, as defined in Rule 16a-1(f), adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K Item 408, as follows:
+Added: On August 21, 2023 , John Couling , our Senior Vice President , Entertainment, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 83,560 shares of our Class A common stock.
+Added: The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c).
+Added: The duration of the trading arrangement is until December 16, 2024, or earlier if all transactions under the trading arrangement are completed.
+Added: No other officers or directors, as defined in Rule 16a-1(f), adopted and/or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” each as defined in Regulation S-K Item 408, during the fiscal quarter ending September 29, 2023.
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
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DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
−Removed: The information required by this item concerning our directors, compliance with Section 16 of the Exchange Act, as amended, our code of business conduct and ethics, our Compensation Committee, Nominating and Governance Committee and Audit Committee is incorporated by reference from the information set forth in the sections under the headings "Election of Directors," "Delinquent Section 16(a) Reports" and "Corporate Governance Matters" in our Definitive Proxy Statement to be filed with the SEC in connection with the Annual Meeting of Stockholders to be held in 2023 ("2023 Proxy Statement").
−Removed: Executive Officers of the Registrant
−Removed: Our executive officers serve at the discretion of the Board of Directors.
−Removed: The names of our executive officers and their ages, titles, and biographies as of October 28, 2022 are set forth below:
−Removed: Executive Officers Age Position(s)
−Removed: Kevin Yeaman 56 President and Chief Executive Officer
−Removed: Robert Park 52 Senior Vice President and Chief Financial Officer
−Removed: Andy Sherman 55 Executive Vice President, General Counsel and Corporate Secretary
−Removed: John Couling 47 Senior Vice President, Entertainment
−Removed: Todd Pendleton 50 Senior Vice President and Chief Marketing Officer
−Removed: Shiram Revankar 60 Senior Vice President, Advanced Technology Group
−Removed: Kevin Yeaman joined us as Chief Financial Officer and Vice President in October 2005, was appointed Senior Vice President in November 2006 and Executive Vice President in July 2007.
−Removed: He became our President and CEO in March 2009 and has been a member of our Board since he assumed the role of CEO.
−Removed: Prior to joining us, he worked for seven years at E.piphany, Inc., a publicly traded enterprise software company, most recently as Chief Financial Officer from August 1999 to October 2005.
−Removed: Previously, Mr.
−Removed: Yeaman also served as Worldwide Vice President of Field Finance Operations for Informix Software, Inc., a provider of relational database software, from February 1998 to August 1998.
−Removed: From September 1988 to February 1998, Mr.
−Removed: Yeaman served in Silicon Valley and London in various positions at KPMG LLP, an accounting firm, serving most recently as a senior manager.
−Removed: Yeaman is a member of the Academy of Motion Picture Arts and Sciences.
−Removed: He also sits on the Board of Trustees of the Academy Museum Foundation.
−Removed: He holds a B.S.
−Removed: degree in commerce from Santa Clara University.
−Removed: Robert Park joined us as Senior Vice President and Chief Financial Officer in October 2021.
−Removed: Park leads the global finance organization and is responsible for all finance functions, information technology, and investor relations.
−Removed: Park has over 25 years of financial and strategic business experience.
−Removed: Park served as the Chief Financial Officer of BlueJeans, a cloud-based enterprise video conferencing and communications company, since April 2016.
−Removed: Prior to BlueJeans, Mr.
−Removed: Park held a variety of positions of increasing responsibility at multiple public and private companies.
−Removed: Park began his finance career with Ernst & Young LLP, an accounting firm, serving numerous clients across various industries.
−Removed: Park holds a B.S.
−Removed: degree in Business Administration with a concentration in accounting from California Polytechnic State University, San Luis Obispo.
−Removed: Andy Sherman joined us as Executive Vice President, General Counsel and Corporate Secretary in January 2011.
−Removed: Sherman oversees Dolby’s patent licensing businesses and government relations, and Dolby's worldwide legal affairs, including all corporate, regulatory, IP, litigation, and licensing activities.
−Removed: Prior to joining us, from June 2008 to January 2011, Mr.
−Removed: Sherman served as Senior Vice President and General Counsel at CBS Interactive, an online content network, where he led the legal group advising CBS’s online entertainment, mobile, technology, sports, news, games, lifestyle, and international business units.
−Removed: Sherman joined CBS Interactive following CBS’s acquisition of CNET Networks, an online content network, where from June 2007 to June 2008 he was Senior Vice President, General Counsel and Secretary.
−Removed: Before CNET, Mr.
−Removed: Sherman served as Vice President, Legal at Sybase, an enterprise software and services company, from November 2006 to May 2007, following Sybase’s acquisition of Mobile 365, where he was Vice President, General Counsel and Secretary.
−Removed: Prior to joining Mobile 365, he held senior legal positions with global responsibility at a variety of public technology companies including PeopleSoft and E.piphany.
−Removed: Earlier in his career, Mr.
−Removed: Sherman worked in private practice with Gray Cary Ware & Freidenrich (now DLA Piper), focusing on the representation of emerging technology companies.
−Removed: Sherman holds a J.D.
−Removed: from the University of the Pacific, as well as a B.S.
−Removed: degree in business administration from the University of Southern California.
−Removed: John Couling joined Dolby in 1997 and has held multiple leadership roles at the company, including as Senior Vice President, Commercial Partnerships from October 2016 through October 2021, and most recently as Senior Vice
−Removed: President, Entertainment since October 2021.
−Removed: In his current role, Mr.
−Removed: Couling oversees Dolby's customer and partner relationships organization across the entertainment industry, leading sales, delivery, and integration of Dolby technologies and solutions into partners' services and products.
−Removed: Couling holds a B.S.
−Removed: degree in astrophysics from the University of Bristol.
−Removed: Todd Pendleton joined us in July 2018 as Senior Vice President and Chief Marketing Officer.
−Removed: He leads Dolby’s marketing efforts and is responsible for promoting the brand globally to consumers and through its partners.
−Removed: Prior to Dolby, Mr.
−Removed: Pendleton led his own marketing creative agency, Defi 9, working with start-ups and entertainment personalities.
−Removed: Prior to leading his own business, Mr.
−Removed: Pendleton served as Chief Marketing Officer of Samsung Telecommunications America from June 2011 to April 2015, where he among other things led the launch of the Samsung Galaxy mobile franchise.
−Removed: Prior to Samsung Telecommunications America, Mr.
−Removed: Pendleton was with Nike for over 15 years, where he held country, regional, and global leadership roles working across North America, Europe, and Asia.
−Removed: Pendleton earned his B.A.
−Removed: degree in Political Science and International Business from Northeastern University in Boston, Massachusetts.
−Removed: Shriram Revankar joined us as Senior Vice President, Advanced Technology Group in May 2021.
−Removed: Revankar oversees teams creating and delivering innovations that transform immersive entertainment experiences, including the office of the Chief Technology Officer, image and sound research and development, prototyping, and technical operations.
−Removed: He previously served in various positions at Adobe from 2009 through 2022, most recently as Vice President and Fellow at Adobe Research, where he focused on delivering high impact technologies to Adobe’s Digital Experience and Document Cloud businesses.
−Removed: Prior to joining Adobe, Dr.
−Removed: Revankar was a Xerox Fellow and the head of Smart Systems Lab and also the Chief Architect of the Production Solutions business at Xerox Corporation.
−Removed: He has a masters and Ph.D.
−Removed: in computer science from State University of New York at Buffalo.
+Added: The information required by this item concerning our directors, compliance with Section 16 of the Exchange Act, as amended, our code of business conduct and ethics, our Compensation Committee, Nominating and Governance Committee and Audit Committee is incorporated by reference from the information set forth in the sections under the headings "Election of Directors," "Executive Officers," "Delinquent Section 16(a) Reports" and "Corporate Governance Matters" in our Definitive Proxy Statement to be filed with the SEC in connection with the Annual Meeting of Stockholders to be held in 2024 ("2024 Proxy Statement").
EXECUTIVE COMPENSATION
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The information required by this item is incorporated by reference from the information in the 2024 Proxy Statement under the heading "Ratification of Independent Registered Public Accounting Firm."
−Removed: EXHIBITS, FINANCIAL STATEMENT SCHEDULES
+Added: EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
Financial Statements:
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3.2 Form of Amended and Restated Bylaws
−Removed: Quarterly Report on Form 10-Q April 30, 2009
+Added: Quarterly Report on Form 10-Q August 3, 2023
4.1 Form of Registrant’s Class A Common Stock Certificate
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333-120614) November 19, 2004
−Removed: 10.2* 2020 Stock Plan, as amended and restated on July 26, 2021 (“2020 Stock Plan")
−Removed: Annual Report on Form 10-K November 16, 2021
−Removed: 10.3* Employee Stock Purchase Plan (“ESPP”), as amended and restated on September 19, 2017
−Removed: Annual Report on Form 10-K November 16, 2017
+Added: 10.2* 2020 Stock Plan, as amended and restated on February 7, 2023 (“2020 Stock Plan")
+Added: Current Report on Form 8-K February 10, 2023
+Added: 10.3* Employee Stock Purchase Plan (“ESPP”), as amended and restated on February 7, 2023
+Added: Current Report on Form 8-K February 10, 2023
10.4* Form of Global Stock Option Agreement under the 2020 Stock Plan
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Quarterly Report on Form 10-Q May 10, 2011
−Removed: 10.15* Offer Letter dated March 22, 2012 by and between Lewis Chew and Dolby Laboratories, Inc.
−Removed: Quarterly Report on Form 10-Q May 8, 2012
10.15* Lease for 100 Potrero Avenue, San Francisco, California
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Quarterly Report on Form 10-Q August 1, 2018
−Removed: 10.21* Offer Letter dated February 11, 2010 by and between Giles Baker and Dolby Laboratories, Inc.
−Removed: Annual Report on Form 10-K November 16, 2021
10.20* French Sub-Plan to the 2020 Stock Plan
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Quarterly Report on Form 10-Q February 4, 2022
−Removed: 10.26* Letter Agreement dated October 15, 2021 by and between Lewis Chew and Dolby Laboratories, Inc.
−Removed: Quarterly Report on Form 10-Q February 4, 2022
10.24* Offer Letter dated April 6, 2022 by and between Shriram Revankar and Dolby Laboratories, Inc.
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/S/ SIMON SEGARS Director November 16, 2023
−Removed: /S/ ROGER SIBONI Director November 17, 2022
/S/ ANJALI SUD Director November 16, 2023
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.