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

Role: Chief Operating Officer
Signature: /s/Laura Larsen-Misunas as Power of Attorney
Issuer symbol: DZSIQ
Transactions as of: 22 Apr 2024
Net transactions value: $0
Form type: 3
Filing time: 01 May 2024, 14:11:14 UTC
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
holding	DZSI	Common Stock						28,705	22 Apr 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)							22 Apr 2024	Common Stock	35,000	$12.85	Direct	F1
holding	DZSI	Restricted Stock Units							22 Apr 2024	Common Stock	17,500		Direct	F2
holding	DZSI	Restricted Stock Units							22 Apr 2024	Common Stock	13,334		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.