Dolby Laboratories Files Form 8-K Disclosing Approval of 2025 Executive Bonus Plan

Dolby Laboratories, Inc. recently disclosed the adoption of the 2025 Dolby Executive Bonus Plan in a Form 8-K filing with the Securities and Exchange Commission. The company’s Compensation Committee, a division of the Board of Directors, approved the executive cash bonus plan on November 12, 2024, marking a strategic move for the upcoming fiscal year.

The newly established 2025 Dolby Executive Bonus Plan, outlined in Exhibit 99.1 of the filing, encompasses eligible executive and other officers selected by the Committee. The Plan details that individual target bonuses are proportionate to each executive officer’s base salary. Specifically, for the fiscal year 2025, the Committee has set target bonuses for named executive officers, including Kevin Yeaman, Andy Sherman, Robert Park, John Couling, and Todd Pendleton.

The actual bonus amount designated for the Chief Executive Officer will be computed by multiplying the base salary by the target bonus percentage. This amount will then be adjusted based on the attainment of specified goals for non-GAAP operating income, revenue, and other identified metrics, as evaluated by the Committee. A similar calculation method applies to determine bonuses for other eligible named executive officers.

Under the 2025 Executive Plan, the maximum funding is capped at 150% of the target funding to ensure a controlled incentive structure. Additionally, the disclosures confirm that no actual bonus payment to any named executive officer shall surpass the limitations outlined in Dolby Laboratories, Inc.’s 2020 Stock Plan, the foundation upon which the 2025 Executive Plan was built.

The detailed Exhibit 99.1 provides insights into the eligibility criteria, bonus amounts, target bonuses, actual bonus determination process, as well as the approval and payment mechanisms laid out by the Executive Bonus Plan. The Plan is subject to the terms and conditions of the 2020 Stock Plan, with maximum bonus limits and provisions for reduction, cancellation, forfeiture, or recoupment following the Company’s Policy on Recoupment of Incentive Compensation.

To maintain transparency, Dolby Laboratories filed the Form 8-K as part of its continuous commitment to providing shareholders and investors with pertinent information regarding executive compensation and incentive plans for the upcoming fiscal year.

This news article is based on the contents of the recently submitted 8-K filing by Dolby Laboratories to the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Dolby Laboratories’s 8K filing here.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.