ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

SRSL Srs Labs, Inc. (MM)

7.33
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Srs Labs, Inc. (MM) NASDAQ:SRSL NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.33 0 01:00:00

- Statement of Changes in Beneficial Ownership (4)

25/07/2012 1:33am

Edgar (US Regulatory)


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 *

Yang Sarah
2. Issuer Name and Ticker or Trading Symbol

SRS LABS INC [ SRSL ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Sr VP, Software Eng.
(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    19700   D   (1) 0   D    
Common Stock   7/20/2012     D    1500   D   (1) 0   I   By Mother-in-Law  

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         18000    9/5/2006   9/5/2012   Common Stock   18000     (2) 0   D    
Employee Stock Option   $4.25   7/20/2012     D         30000    7/10/2007   7/10/2013   Common Stock   30000     (2) 0   D    
Employee Stock Option   $6.10   7/20/2012     D         20000    4/9/2008   4/9/2014   Common Stock   20000     (2) 0   D    
Employee Stock Option   $4.01   7/20/2012     D         7500    3/29/2006   3/29/2015   Common Stock   7500     (2) 0   D    
Employee Stock Option   $6.20   7/20/2012     D         10000    1/12/2010   1/12/2016   Common Stock   10000     (2) 0   D    
Employee Stock Option   $6.05   7/20/2012     D         20000    4/12/2010   4/12/2016   Common Stock   20000     (2) 0   D    
Employee Stock Option   $9.29   7/20/2012     D         40000    1/19/2011   1/19/2017   Common Stock   40000     (2) 0   D    
Employee Stock Option   $5.24   7/20/2012     D         40000    1/2/2012   1/2/2018   Common Stock   40000     (2) 0   D    
Employee Stock Option   $4.81   7/20/2012     D         30000    7/20/2012   1/2/2019   Common Stock   30000     (2) 0   D    
Employee Stock Option   $8.47   7/20/2012     D         20000    7/20/2012   5/12/2021   Common Stock   20000     (2) 0   D    
Employee Stock Option   $5.82   7/20/2012     D         31000    7/20/2012   12/26/2021   Common Stock   31000     (2) 0   D    
Employee Stock Option   $4.55   7/20/2012     D         35000    5/27/2008   5/27/2014   Common Stock   35000     (2) 0   D    
Employee Stock Option   $7.33   7/20/2012     D         32000    7/20/2012   12/31/2019   Common Stock   32000     (2) 0   D    
Employee Stock Option   $8.81   7/20/2012     D         35000    7/20/2012   12/31/2020   Common Stock   35000     (2) 0   D    

Explanation of Responses:
( 1)  Disposed of 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 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
Yang Sarah
C/O SRS LABS, INC.
2909 DAIMLER STREET
SANTA ANA, CA 92705


Sr VP, Software Eng.

Signatures
/s/ Sarah Yang 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.

1 Year Srs Labs Chart

1 Year Srs Labs Chart

1 Month Srs Labs Chart

1 Month Srs Labs Chart