Miguel Alonso - Jun 10, 2023 Form 4 Insider Report for DZS INC. (DZSI)

Role: Chief Product Officer
Signature: /s/Laura Larsen-Misunas as Power of Attorney
Stock symbol: DZSI
Transactions as of: Jun 10, 2023
Transactions value $: -$7,123
Form type: 4
Date filed: 6/13/2023, 02:59 PM
Previous filing: Jun 1, 2023
Next filing: Jul 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DZSI	Common Stock	Options Exercise	$0	+6.25K	+48.87%	$0.00	19K	Jun 10, 2023	Direct	F1
transaction	DZSI	Common Stock	Tax liability	-$7.12K	-2.04K	-10.72%	$3.49	17K	Jun 10, 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		-6.25K	-50%		6.25K	Jun 10, 2023	Common Stock	6.25K		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 6,250 units for a total amount vested of 18,750 of the restricted stock units issued on October 12, 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.