Charles D. Vogt - 10 Jun 2023 Form 4 Insider Report for DZS INC. (DZSIQ)

Role: President & CEO, Director
Signature: /s/Laura Larsen-Misunas as Power of Attorney
Issuer symbol: DZSIQ
Transactions as of: 10 Jun 2023
Net transactions value: -$21,345
Form type: 4
Filing time: 13 Jun 2023, 14:56:16 UTC
Previous filing: 01 Jun 2023
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
transaction	DZSI	Common Stock	Options Exercise	$0	+14,816	+16%	$0.000000	109,068	10 Jun 2023	Direct	F1
transaction	DZSI	Common Stock	Tax liability	$21,345	-6,116	-5.6%	$3.49	102,952	10 Jun 2023	Direct	F2

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
transaction	DZSI	Restricted Stock Units	Options Exercise		-14,816	-100%		0	10 Jun 2023	Common Stock	14,816		Direct	F1

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

Explanation of Responses:

Id	Content
F1	This represents the third vesting on June 10, 2023 in the amount of 14,816 units for a total amount vested of 44,444 of the restricted stock units issued on August 1, 2020. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.
F2	Shares withheld by DZS to satisfy tax withholding requirements on vesting of restricted stock.