Justin K. Ferguson - 01 Jul 2023 Form 4 Insider Report for DZS INC. (DZSIQ)

Role
Chief Legal Officer
Signature
/s/Laura Larsen-Misunas as Power of Attorney
Issuer symbol
DZSIQ
Transactions as of
01 Jul 2023
Net transactions value
-$36,603
Form type
4
Filing time
05 Jul 2023, 19:52:15 UTC
Previous filing
13 Jun 2023
Next filing
03 Oct 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 +2,500 +7.5% 35,923 01 Jul 2023 Direct F1
transaction DZSI Common Stock Tax liability $4,026 -1,014 -2.8% $3.97 34,909 01 Jul 2023 Direct F2
transaction DZSI Common Stock Options Exercise +16,698 +48% 51,607 01 Jul 2023 Direct F3
transaction DZSI Common Stock Tax liability $28,870 -7,272 -14% $3.97 44,335 01 Jul 2023 Direct F2
transaction DZSI Common Stock Options Exercise +2,500 +5.6% 46,835 01 Jul 2023 Direct F4
transaction DZSI Common Stock Tax liability $3,708 -934 -2% $3.97 45,901 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 -2,500 -33% 5,000 01 Jul 2023 Common Stock 2,500 Direct F1
transaction DZSI Restricted Stock Units Options Exercise -16,698 -33% 33,396 01 Jul 2023 Common Stock 16,698 Direct F3
transaction DZSI Restricted Stock Units Options Exercise -2,500 -50% 2,500 01 Jul 2023 Common Stock 2,500 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This represents the second vesting on July 1, 2023 in the amount of 2,500 units for a total amount vested of 5,000 of the restricted stock units issued on July 1, 2021. 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.
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 16,698 units for a total amount vested of 16,698 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.
F4 This represents the first vesting on July 1, 2023 in the amount of 2,500 units for a total amount vested of 2,500 of the restricted stock units issued on July 1, 2022. 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.