Raghu Marthi - Apr 22, 2024 Form 3 Insider Report for DZS INC. (DZSI)

Role: Chief Operating Officer
Signature: /s/Laura Larsen-Misunas as Power of Attorney
Stock symbol: DZSI
Transactions as of: Apr 22, 2024
Transactions value $: $0
Form type: 3
Date filed: 5/1/2024, 02:11 PM
Next filing: Jul 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	DZSI	Common Stock						28.7K	Apr 22, 2024	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)							Apr 22, 2024	Common Stock	35K	$12.85	Direct	F1
holding	DZSI	Restricted Stock Units							Apr 22, 2024	Common Stock	17.5K		Direct	F2
holding	DZSI	Restricted Stock Units							Apr 22, 2024	Common Stock	13.3K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	These options vest over a four-year vesting schedule as follows: 25% of the options vests on September 20, 2022 and the remainder vests in 36 equal monthly installments thereafter subject to the reporting person's continued employment with the issuer on each such vesting date.
F2	These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in two equal installments on September 20, 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.
F3	These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in two equal installments on July 1, 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.