Misty Dawn Kawecki - 01 Jul 2024 Form 4 Insider Report for DZS INC. (DZSIQ)

Role: Chief Financial Officer
Signature: /s/Laura Larsen-Misunas as Power of Attorney
Issuer symbol: DZSIQ
Transactions as of: 01 Jul 2024
Net transactions value: -$15,793
Form type: 4
Filing time: 03 Jul 2024, 13:47:45 UTC
Previous filing: 03 Aug 2023
Next filing: 06 Aug 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		+25,000	+38%		90,465	01 Jul 2024	Direct	F1
transaction	DZSI	Common Stock	Tax liability	$9,469	-8,163	-9%	$1.16	82,302	01 Jul 2024	Direct	F2
transaction	DZSI	Common Stock	Options Exercise		+16,698	+20%		99,000	01 Jul 2024	Direct	F3
transaction	DZSI	Common Stock	Tax liability	$6,324	-5,452	-5.5%	$1.16	93,548	01 Jul 2024	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		-25,000	-100%		0	01 Jul 2024	Common Stock	25,000		Direct	F1
transaction	DZSI	Restricted Stock Units	Options Exercise		-16,698	-50%		16,698	01 Jul 2024	Common Stock	16,698		Direct	F3

* 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, 2024 in the amount of 25,000 units for a total amount vested of 50,000 of the restricted stock units issued on July 1, 2022. 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.
F3	This represents the second vesting on July 1, 2024 in the amount of 16,698 units for a total amount vested of 33,396 of the restricted stock units issued on July 1, 2022. The remaining vesting will occur on July 1, 2025 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.