SEC Form SC 13G/A filed by Dolby Laboratories (Amendment)

2/8/24 10:43:11 AM ET

Multi-Sector Companies

Miscellaneous

Get the next $DLB alert in real time by email

SC 13G/A 1 DolbyLabsDLB.txt MS AMENDMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.2)* Dolby Laboratories, Inc ----------------------------------------------------- (Name of Issuer) Class A Common Stock ----------------------------------------------------- (Title of Class of Securities) 25659T107 ----------------------------------------------------- (CUSIP Number) December 31, 2023 ----------------------------------------------------- (Date Of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 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 1745 (3-06) CUSIP No.25659T107 13G Page 2 of 9 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Morgan Stanley I.R.S. # 36-3145972 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY: -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware. -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER: SHARES 0 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER: EACH 4,470,445 REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER: WITH: 0 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER: 4,579,983 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 4,593,133 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 7.8% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON: HC, CO -------------------------------------------------------------------------------- CUSIP No.25659T107 13G Page 3 of 9 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Atlanta Capital Management Company, LLC I.R.S. # 58-2236910 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY: -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware. -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER: SHARES 0 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER: EACH 4,005,412 REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER: WITH: 0 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER: 4,101,564 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 4,101,564 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 6.9% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON: IA -------------------------------------------------------------------------------- CUSIP No.25659T107 13G Page 4 of 9 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Eaton Vance Atlanta Capital SMID - Cap Fund I.R.S. # 04-2325690 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY: -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION: Massachusetts. -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER: SHARES 0 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER: EACH 3,297,708 REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER: WITH: 0 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER: 3,297,708 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 3,297,708 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 5.6% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON: IV -------------------------------------------------------------------------------- CUSIP No.25659T107 13G Page 5 of 9 Pages -------------------------------------------------------------------------------- Item 1. (a) Name of Issuer: Dolby Laboratories, Inc -------------------------------------------------------------- (b) Address of Issuer's Principal Executive Offices: 1275 MARKET STREET SAN FRANCISCO, CA, 94103 UNITED STATES OF AMERICA -------------------------------------------------------------- Item 2. (a) Name of Person Filing: (1) Morgan Stanley (2) Atlanta Capital Management Company, LLC (3) Eaton Vance Atlanta Capital SMID - Cap Fund -------------------------------------------------------------- (b) Address of Principal Business Office, or if None, Residence: (1) 1585 Broadway New York, NY 10036 (2) 1075 Peachtree Street, Suite 2100, Atlanta, GA 30309 (3) Two International Place Boston, MA 02110 -------------------------------------------------------------- (c) Citizenship: (1) Delaware. (2) Delaware. (3) Massachusetts. -------------------------------------------------------------- (d) Title of Class of Securities: Class A Common Stock -------------------------------------------------------------- (e) CUSIP Number: 25659T107 -------------------------------------------------------------- Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [x] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [x] An investment adviser in accordance with Sections 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) [x] A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with section 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with sections 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with sections 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Not Applicable CUSIP No.25659T107 13G Page 6 of 9 Pages -------------------------------------------------------------------------------- Item 4. Ownership as of December 31, 2023.* (a) Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s). (b) Percent of Class: See the response(s) to Item 11 on the attached cover page(s). (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s). (ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s). (iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s). (iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s). Item 5. Ownership of Five Percent or Less of a Class. Not Applicable Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on By the Parent Holding Company. See Exhibit 99.2 Item 8. Identification and Classification of Members of the Group. Not Applicable Item 9. Notice of Dissolution of Group. Not Applicable Item 10. Certification. (1) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release. CUSIP No.25659T107 13G Page 7 of 9 Pages -------------------------------------------------------------------------------- Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 08, 2024 Signature: /s/ Christopher O'Hara -------------------------------------------------------------------- Name/Title: Christopher O'Hara/Authorized Signatory, Morgan Stanley -------------------------------------------------------------------- MORGAN STANLEY Date: February 08, 2024 Signature: /s/ Kelly Williams -------------------------------------------------------------------- Name/Title: Kelly Williams/Authorized Signatory, Atlanta Capital Management Company, LLC -------------------------------------------------------------------- Atlanta Capital Management Company, LLC Date: February 08, 2024 Signature: /s/ Kelly Williams -------------------------------------------------------------------- Name/Title: Kelly Williams/Authorized Signatory, Eaton Vance Atlanta Capital SMID - Cap Fund -------------------------------------------------------------------- Eaton Vance Atlanta Capital SMID - Cap Fund EXHIBIT NO. EXHIBITS PAGE ----------- ---------- ---- 99.1 Joint Filing Agreement 8 99.2 Item 7 Information 9 * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). CUSIP No.25659T107 13G Page 8 of 9 Pages -------------------------------------------------------------------------------- EXHIBIT NO. 99.1 TO SCHEDULE 13G JOINT FILING AGREEMENT --------------------------------------------------- February 08, 2024 --------------------------------------------------- MORGAN STANLEY, Atlanta Capital Management Company, LLC and Eaton Vance Atlanta Capital SMID - Cap Fund hereby agree that, unless differentiated, this Schedule 13G is filed on behalf of each of the parties. MORGAN STANLEY BY: /s/ Christopher O'Hara --------------------------------------------------------------------- Christopher O'Hara/Authorized Signatory, Morgan Stanley Atlanta Capital Management Company, LLC BY: /s/ Kelly Williams --------------------------------------------------------------------- Kelly Williams/Authorized Signatory, Atlanta Capital Management Company, LLC Eaton Vance Atlanta Capital SMID - Cap Fund BY: /s/ Kelly Williams --------------------------------------------------------------------- Kelly Williams/Authorized Signatory, Eaton Vance Atlanta Capital SMID - Cap Fund * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). CUSIP No.25659T107 13G Page 9 of 9 Pages -------------------------------------------------------------------------------- EXHIBIT NO. 99.2 ------------------ ITEM 7 INFORMATION The securities being reported on by Morgan Stanley as a parent holding company are owned, or may be deemed to be beneficially owned, by Atlanta Capital Management Company, LLC, Eaton Vance Atlanta Capital SMID - Cap Fund, a wholly-owned subsidiary of Morgan Stanley.

Get the next $DLB alert in real time by email

Recent Analyst Ratings for

$DLB

Date	Price Target	Rating	Analyst
9/5/2025	$74.00	Neutral	Robert W. Baird
5/15/2025	$112.00	Buy	Tigress Financial
6/3/2024	$100.00	Mkt Perform → Outperform	Barrington Research
11/18/2022		Outperform → Mkt Perform	Barrington Research
5/24/2022	$90.00	Buy	Rosenblatt
8/2/2021	$115.00	Mkt Perform → Outperform	Barrington Research

More analyst ratings

SEC Form SC 13G/A filed by Dolby Laboratories (Amendment)

2/8/24 10:43:11 AM ET

$DLB

Multi-Sector Companies

Miscellaneous

Get the next $DLB alert in real time by email

Recent Analyst Ratings for

$DLB

Date	Price Target	Rating	Analyst
9/5/2025	$74.00	Neutral	Robert W. Baird
5/15/2025	$112.00	Buy	Tigress Financial
6/3/2024	$100.00	Mkt Perform → Outperform	Barrington Research
11/18/2022		Outperform → Mkt Perform	Barrington Research
5/24/2022	$90.00	Buy	Rosenblatt
8/2/2021	$115.00	Mkt Perform → Outperform	Barrington Research

More analyst ratings

SEC Form SC 13G/A filed by Dolby Laboratories (Amendment)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$DLB

SEC Form SC 13G/A filed by Dolby Laboratories (Amendment)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$DLB

$DLB
Press Releases

Dolby and rednote Bring More Immersive Storytelling to Video Content with Dolby Atmos

Dolby Recognized as 2025 Supplier of the Year and Overdrive Award Winner by General Motors

Dolby Laboratories to Present at Upcoming Investor Conferences

$DLB
SEC Filings

SEC Form SD filed by Dolby Laboratories

Amendment: SEC Form SCHEDULE 13G/A filed by Dolby Laboratories

SEC Form 10-Q filed by Dolby Laboratories

$DLB
Insider Purchases

President and CEO Yeaman Kevin J bought $200 worth of shares (3 units at $78.15) (SEC Form 4)

$DLB
Analyst Ratings

Robert W. Baird initiated coverage on Dolby Labs with a new price target

Tigress Financial resumed coverage on Dolby Labs with a new price target

Dolby Labs upgraded by Barrington Research with a new price target

$DLB
Insider Trading

SVP, Entertainment Couling John D exercised 7,666 shares at a strike of $45.50 and sold $426,420 worth of shares (7,666 units at $55.62) as part of a pre-agreed trading plan (SEC Form 4)

SVP, Chief Marketing Officer Pendleton Todd sold $647,857 worth of shares (11,876 units at $54.55), decreasing direct ownership by 22% to 41,480 units (SEC Form 4)

SVP, Advanced Technology Group Revankar Shriram sold $164,700 worth of shares (3,000 units at $54.90) as part of a pre-agreed trading plan and covered exercise/tax liability with 4,329 shares, decreasing direct ownership by 9% to 76,274 units (SEC Form 4) (for withholding tax)

$DLB
Large Ownership Changes

Amendment: SEC Form SC 13G/A filed by Dolby Laboratories

Amendment: SEC Form SC 13G/A filed by Dolby Laboratories