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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
SRS Labs, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
78464M 10 6
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(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
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* 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).
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CUSIP No. 78464M 10 6 13G Page 2 of 6 Pages
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1 NAMES OF REPORTING PERSONS OR
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stephen V. Sedmak
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS) (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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5 SOLE VOTING POWER
932,387
NUMBER -----------------------------------------------
OF SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 13,800
BY EACH ------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
EACH 932,387
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8 SHARED DISPOSITIVE POWER
13,800
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
946,187
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.9% (Based on 11,688,893 shares of SRS Labs, Inc.' common stock
reported as outstanding as of December 31, 1998 and treating as
outstanding 370,439 shares issuable to Mr. Sedmak upon exercise
of stock options that vest on or before March 1, 1999.)
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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CUSIP No. 78464M 10 6 13G Page 3 of 6 Pages
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Item 1(a). Name of Issuer:
SRS Labs, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
2909 Daimler Street, Santa Ana, California 92705
Item 2(a). Name of Person Filing:
Stephen V. Sedmak
Item 2(b). Address of Principal Business Office or, if None, Residence:
SRS Labs, Inc., 2909 Daimler Street, Santa Ana, California 92705
Item 2(c). Citizenship:
U.S.A.
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
78464M 10 6
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) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in accordance with section
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) [ ] A parent holding company or control person in accordance
with section 240.13d-1(b)(1)(ii)(G);
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CUSIP No. 78464M 10 6 13G Page 4 of 6 Pages
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(h) [ ] A savings associations 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) [ ] Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to section 240.13d-1(c),
check this box [ ].
Item 4. Ownership.
(a) Amount Beneficially Owned: 946,187
(b) Percent of Class: 7.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 932,387
(ii) Shared power to vote or to direct the vote: 13,800
(iii) Sole power to dispose or to direct the
disposition of: 932,387
(iv) Shared power to dispose or to direct the
disposition of: 13,800
Stephen V. Sedmak's beneficial ownership of the shares set forth
above is subject to applicable community property laws. The
946,187 shares beneficially owned by Mr. Sedmak include 370,439
shares issuable to Mr. Sedmak upon exercise of stock options
that vest on or before March 1, 1998. The shares beneficially
owned by Mr. Sedmak also include 13,800 shares held by his wife,
Mary F. Sedmak, as custodian for their children, Jeffrey S.
Sedmak (6,900 shares) and Sarah E. Sedmak (6,900 shares), who
have the right to receive dividends from, and the proceeds from
the sale of, such shares.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following. [ ]
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CUSIP No. 78464M 10 6 13G Page 5 of 6 Pages
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Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Inapplicable.
Item 7. Identification and Classification of the Subsidiary which
Acquired the Security Being Reported on by the Parent Holding
Company.
Inapplicable.
Item 8. Identification and Classification of Members of the Group.
Inapplicable.
Item 9. Notice of Dissolution of Group.
Inapplicable.
Item 10. Certification.
Inapplicable.
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CUSIP No. 78464M 10 6 13G Page 6 of 6 Pages
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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.
February 16, 1999
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Date
/s/ STEPHEN V. SEDMAK
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Stephen V. Sedmak
