FORM 4
[ ] 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
                                                                                  
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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 THOMAS C K 		2. Issuer Name and Ticker or Trading Symbol

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

__ X __ Director                      __ X __ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CEO
(Last)          (First)          (Middle)

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

1/2/2009
(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                  2546566   I   By Family Trust  
Common Stock                  252790   D    
Common Stock                  37179   I   (1) By Sister-in-Law   (2)
Common Stock                  5714   I   (1) By Daughter   (3)
Common Stock                  31465   I   (1) By Sister-in-Law   (4)
Common Stock                  144825   I   (1) By Sister-in-Law   (5)

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   $4.81   1/2/2009     A     30000       1/2/2010   (6) 1/2/2019   Common Stock   30000   $4.81   30000   D    

Explanation of Responses:
( 1)  The reporting person disclaims ownership of these securities, and this report should not be deemed an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16or for any other purpose.
( 2)  Represents prior transfers by Trust to reporting person's sister-in-law as custodian for minor daughter.
( 3)  Represents prior transfers by Trust to reporting person's adult daughter.
( 4)  Represents prior transfers by Trust to reporting person's sister-in-law as custodian for adult daughter.
( 5)  As Trustee under The Yuen 1993 Irrevocable Trust
( 6)  Non-qualified stock option grant under the SRS Labs, Inc. 2006 Stock Incentive Plan. The option shall vest as follows: 1/4th to vest one year after the date of grant and 1/16th every three months during the next three successive years thereafter measured from January 2, 2010.

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

Signatures
Ulrich E. Gottschling for Thomas C.K. Yuen 1/5/2009
** 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.
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