Charles D. Vogt - 01 Jul 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
01 Jul 2023
Net transactions value
-$197,893
Form type
4
Filing time
05 Jul 2023, 19:51:55 UTC
Previous filing
13 Jun 2023
Next filing
03 Jul 2024
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 +66,666 +65% 169,618 01 Jul 2023 Direct F1
transaction DZSI Common Stock Tax liability $98,853 -24,900 -15% $3.97 144,718 01 Jul 2023 Direct F2
transaction DZSI Common Stock Options Exercise +66,792 +46% 211,510 01 Jul 2023 Direct F3
transaction DZSI Common Stock Tax liability $99,040 -24,947 -12% $3.97 186,563 01 Jul 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 -66,666 -50% 66,668 01 Jul 2023 Common Stock 66,666 Direct F1
transaction DZSI Restricted Stock Units Options Exercise -66,792 -33% 133,584 01 Jul 2023 Common Stock 66,792 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Charles D. Vogt is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This represents the second vesting on July 1, 2023 in the amount of 66,666 units for a total amount vested of 133,332 of the restricted stock units issued on July 1, 2021. The remaining vesting will occur on July 1, 2024, subject to the reporting person's continued employment with the issuer on such vesting date. 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 units.
F3 This represents the first vesting on July 1, 2023 in the amount of 66,792 units for a total amount vested of 66,792 of the restricted stock units issued on July 1, 2022. The remaining vesting will occur on July 1, 2024 and 2025 subject to the reporting person's continued employment with the issuer on each such vesting date. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.