Miguel Alonso - 20 Feb 2023 Form 3 Insider Report for DZS INC. (DZSIQ)

Role: Chief Product Officer
Signature: /s/Laura Larsen-Misunas as Power of Attorney
Issuer symbol: DZSIQ
Transactions as of: 20 Feb 2023
Net transactions value: $0
Form type: 3
Filing time: 02 Mar 2023, 15:17:00 UTC
Next filing: 01 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	DZSI	Common Stock						10,003	20 Feb 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	DZSI	Stock Options (Right to Buy)							20 Feb 2023	Common Stock	25,000	$10.39	Direct	F1
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	12,500		Direct	F2
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	7,500		Direct	F3
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	3,750		Direct	F4
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	4,138		Direct	F5
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	40,000		Direct	F3
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	5,000		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These options vest over a four-year vesting schedule as follows: 25% of the options vests on October 12, 2021 and the remainder vests in 36 equal monthly installments thereafter subject to the reporting person's continued employment with the issuer on each such vesting date.
F2	These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in two equal installments on June 10, 2023 and 2024, subject to the reporting person's continued employment with the issuer on each vesting date. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.
F3	These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in three equal installments on July 1, 2023, 2024, and 2025, subject to the reporting person's continued employment with the issuer on each vesting date. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.
F4	These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in three equal installments on October 1, 2023, 2024, and 2025, subject to the reporting person's continued employment with the issuer on each vesting date. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.
F5	These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in one equal installment on May 30, 2023, subject to the reporting person's continued employment with the issuer on each vesting date. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.