Deok Yeon Won - 20 Feb 2023 Form 3 Insider Report for DZS INC. (DZSIQ)

Role: Chief Customer Officer, Asia
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, 15:17:28 UTC
Next filing: 05 Jul 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						3,750	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	1,250	$4.75	Direct	F1
holding	DZSI	Stock Options (Right to Buy)							20 Feb 2023	Common Stock	16,676	$9.63	Direct	F1
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	11,250		Direct	F2
holding	DZSI	Restricted Stock Units							20 Feb 2023	Common Stock	30,000		Direct	F2

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

Explanation of Responses:

Id	Content
F1	These stock options were granted pursuant to the issuer's 2017 Incentive Award Plan and have fully vested.
F2	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.