FORM 4
[ X ] 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
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5
                      
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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

YUEN MISAKO 		2. Issuer Name and Ticker or Trading Symbol

SRS LABS INC [ SRSL ] 		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 SRS LABS, INC., 2909 DAIMLER STREET 		3. Date of Earliest Transaction (MM/DD/YYYY)

7/20/2012
(Street)

SANTA ANA, CA 92705
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Common Stock   7/20/2012     D    2519566   D   (1) 0   I   By Family Trust  
Common Stock   7/20/2012     D    352790   D   (1) 0   I   By spouse  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Employee Stock Option   $2.45   7/20/2012     D         50000    9/5/2006   9/5/2012   Common Stock   50000     (2) 0   I   By spouse  
Employee Stock Option   $4.01   7/20/2012     D         11250    3/29/2006   3/29/2015   Common Stock   11250     (2) 0   I   By spouse  
Employee Stock Option   $4.81   7/20/2012     D         30000    7/20/2012   1/2/2019   Common Stock   30000     (2) 0   I   By spouse  
Employee Stock Option   $7.33   7/20/2012     D         80000    7/20/2012   12/30/2019   Common Stock   80000     (2) 0   I   By spouse  
Employee Stock Option   $8.81   7/20/2012     D         50000    7/20/2012   12/30/2020   Common Stock   50000     (2) 0   I   By spouse  
Employee Stock Option   $5.82   7/20/2012     D         50000    7/20/2012   12/26/2021   Common Stock   50000     (2) 0   I   By spouse  

Explanation of Responses:
( 1)  Disposed of by spouse pursuant to an Agreement and Plan of Merger and Reorganization (the "Merger Agreement"), dated as of April 16, 2012, by and among DTS, Inc. ("DTS"), DTS Merger Sub, Inc., DTS LLC and SRS Labs, Inc. ("SRS"). Pursuant to the terms of the Merger Agreement, SRS stockholders could elect to receive, in exchange for each share of SRS common stock held at the effective time of the Merger, either (i) $9.50 in cash, without interest and less any applicable withholding taxes or (ii) 0.31127 of a share of DTS common stock.
( 2)  Pursuant to the Merger Agreement, each outstanding stock option of spouse to purchase shares of SRS common stock automatically became fully vested and exercisable immediately prior to the effective time of the Merger and, as of the effective time of the Merger, was cancelled in exchange for the right to receive a cash payment, without interest and less any applicable withholding taxes, equal to the product of the excess, if any, of (i) $9.50 over the exercise price of each such option and (ii) the number of shares of SRS common stock underlying such option

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
YUEN MISAKO
C/O SRS LABS, INC.
2909 DAIMLER STREET
SANTA ANA, CA 92705
X


Signatures
/s/ Misako Yuen 7/24/2012
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
Srs Labs (NASDAQ:SRSL)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Srs Labs Charts.
Srs Labs (NASDAQ:SRSL)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Srs Labs Charts.