Here is a version of your code that works
DirectoryEntry de = new DirectoryEntry("LDAP://CN=Users,DC=xxx,DC=com");
DirectorySearcher searcher = new DirectorySearcher(de);
searcher.Filter = "(CN=" + "gautam reddyc" + ")";
searcher.CacheResults = false;
SearchResult result = searcher.FindOne();
de = result.GetDirectoryEntry();
de.Properties["LockOutTime"].Value = 0x0000;
de.CommitChanges();