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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 9 Pages
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1 NAMES OF REPORTING PERSONS OR
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Thomas C.K. Yuen
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [X]
(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
245,561
NUMBER ----------------------------------------------------
OF SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 2,668,582
BY EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 245,561
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8 SHARED DISPOSITIVE POWER
2,668,582
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,914,143
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4% (Based on 11,688,893 shares of SRS Labs, Inc.' common stock
reported as outstanding as of December 31, 1998 and treating as
outstanding 245,561 shares issuable to Mr. Yuen 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 9 Pages
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1 NAMES OF REPORTING PERSONS OR
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Misako Yuen
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [X]
(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
-0-
NUMBER ----------------------------------------------------
OF SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 2,668,582
BY EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITIH -0-
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,668,582
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,668,582
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
22.8% (Based on 11,688,893 shares of SRS Labs, Inc.' common stock
reported as outstanding as of December 31, 1998.)
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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CUSIP No. 78464M 10 6 13G Page 4 of 9 Pages
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1 NAMES OF REPORTING PERSONS OR
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Thomas Yuen Family Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [X]
(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
-0-
NUMBER ----------------------------------------------------
OF SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 2,668,582
BY EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,668,582
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,668,582
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
22.8% (Based on 11,688,893 shares of SRS Labs, Inc.' common stock
reported as outstanding as of December 31, 1998.)
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12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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CUSIP No. 78464M 10 6 13G Page 5 of 9 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). Names of Persons Filing:
Thomas C.K. Yuen, Misako Yuen and the Thomas Yuen Family Trust
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:
Thomas C.K. Yuen and Misako Yuen are citizens of
the U.S.A, and the Thomas Yuen Family Trust is a
trust formed under the laws of the State of California.
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 ss.
240.13d-1(b)(1)(ii)(E);
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CUSIP No. 78464M 10 6 13G Page 6 of 9 Pages
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(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);
(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:
Thomas C.K. Yuen 2,914,143
Misako Yuen 2,668,582
Thomas Yuen Family Trust 2,668,582
(b) Percent of Class:
Thomas C.K. Yuen 24.4%
Misako Yuen 22.8%
Thomas Yuen Family Trust 22.8%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Thomas C.K. Yuen 245,561
Misako Yuen 0
Thomas Yuen Family Trust 0
(ii) Shared power to vote or to direct the vote:
Thomas C.K. Yuen 2,668,582
Misako Yuen 2,668,582
Thomas Yuen Family Trust 2,668,582
(iii) Sole power to dispose or to direct the
disposition of:
Thomas C.K. Yuen 245,561
Misako Yuen 0
Thomas Yuen Family Trust 0
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CUSIP No. 78464M 10 6 13G Page 7 of 9 Pages
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(iv) Shared power to dispose or to direct the
disposition of:
Thomas C.K. Yuen 2,668,582
Misako Yuen 2,668,582
Thomas Yuen Family Trust 2,668,582
The shares beneficially owned by Thomas C.K. Yuen, Misako Yuen and
the Thomas Yuen Family Trust include 2,668,582 shares held by the
Thomas Yuen Family Trust, of which Mr. and Mrs. Yuen are
co-trustees. The shares beneficially owned by Thomas C.K. Yuen also
include 245,561 shares issuable to Mr. Yuen upon exercise of stock
options that vest on or before March 1, 1999, and Mr. Yuen's
beneficial ownership of such shares is subject to applicable
community property laws. The shares beneficially owned by Mr. and
Mrs. Yuen and the Thomas Yuen Family Trust do not include (i)
207,755 shares held by Atsuko Hamasaki as (i) trustee of the Yuen
1993 Irrevocable Trust (144,825 shares) and (ii) custodian for Mr.
and Mrs. Yuen's children, Jennifer Wen Lee Yuen (31,465 shares) and
Constance Kahlee Yuen (31,465 shares). Mr. and Mrs. Yuen and the
Thomas Yuen Family Trust disclaim beneficial ownership of the
207,755 shares held by Atsuko Hamasaki in the above-referenced
capacities.
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. [ ]
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.
This filing is on behalf of Thomas C.K. Yuen, Misako Yuen and the
Thomas Yuen Family Trust as members of a group. See Exhibit A
attached hereto.
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CUSIP No. 78464M 10 6 13G Page 8 of 9 Pages
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Item 9. Notice of Dissolution of Group.
Inapplicable.
Item 10. Certification.
Inapplicable.
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CUSIP No. 78464M 10 6 13G Page 9 of 9 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/ THOMAS C.K. YUEN
-----------------------------------
Thomas C.K. Yuen
/s/ MISAKO YUEN
-----------------------------------
Misako Yuen
/s/ THOMAS C.K. YUEN
-----------------------------------
Thomas C.K. Yuen
Co-Trustee of the Thomas Yuen
Family Trust
/s/ MISAKO YUEN
-----------------------------------
Misako Yuen
Co-Trustee of the Thomas Yuen
Family Trust
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CUSIP No. 78464M 10 6 13G EXHIBIT A
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AGREEMENT
THIS AGREEMENT is dated as of February 16,1999 among Thomas C.K. Yuen,
Misako Yuen and the Thomas Yuen Family Trust.
WHEREAS, pursuant to Rule 240.13d-1(k) promulgated under Section 13(d) of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the
parties hereto have decided to satisfy their filing obligations under the
Exchange Act by a single joint filing;
NOW THEREFORE, the parties hereto agree as follows:
1. The Schedule 13G with respect to SRS Labs, Inc. to which this Agreement
is attached as Exhibit A (the "Schedule 13G") is filed on behalf of each of the
parties hereto.
2. Each of the parties hereto is eligible to use the Schedule 13G.
3. Each of the parties hereto is responsible for the timely filing of the
Schedule 13G and any amendments thereto, and for the completeness and accuracy
of the information concerning such person or entity contained in the Schedule
13G; provided that each person or entity is not responsible for the completeness
or accuracy of the information concerning any other person making such filing
contained in the Schedule 13G, unless such person or entity knows or has reason
to believe that such information is inaccurate.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.
/s/ THOMAS C.K. YUEN
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Thomas C.K. Yuen
/s/ MISAKO YUEN
-------------------------------
Misako Yuen
THOMAS YUEN FAMILY TRUST
By: /s/ THOMAS C.K. YUEN
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Thomas C.K. Yuen
Co-Trustee
By: /s/ MISAKO YUEN
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Misako Yuen
Co-Trustee
