- Statement of Changes in Beneficial Ownership (4)

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.
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