Justin K. Ferguson - 01 Jul 2024 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 2024
Net transactions value: -$8,220
Form type: 4
Filing time: 03 Jul 2024, 13:48:28 UTC
Previous filing: 03 Oct 2023
Next filing: 10 Sep 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		+2,500	+4.9%		53,243	01 Jul 2024	Direct	F1
transaction	DZSI	Common Stock	Tax liability	$948	-817	-1.5%	$1.16	52,426	01 Jul 2024	Direct	F2
transaction	DZSI	Common Stock	Options Exercise		+2,500	+4.8%		54,926	01 Jul 2024	Direct	F3
transaction	DZSI	Common Stock	Tax liability	$948	-817	-1.5%	$1.16	54,109	01 Jul 2024	Direct	F2
transaction	DZSI	Common Stock	Options Exercise		+16,698	+31%		70,807	01 Jul 2024	Direct	F4
transaction	DZSI	Common Stock	Tax liability	$6,324	-5,452	-7.7%	$1.16	65,355	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		-2,500	-50%		2,500	01 Jul 2024	Common Stock	2,500		Direct	F1
transaction	DZSI	Restricted Stock Units	Options Exercise		-2,500	-100%		0	01 Jul 2024	Common Stock	2,500		Direct	F3
transaction	DZSI	Restricted Stock Units	Options Exercise		-16,698	-50%		16,698	01 Jul 2024	Common Stock	16,698		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 third vesting on July 1, 2024 in the amount of 2,500 units for a total amount vested of 7,500 of the restricted stock units issued on July 1, 2021. 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.
F2	Shares withheld by DZS to satisfy tax withholding requirements on vesting of restricted stock units.
F3	This represents the second vesting on July 1, 2024 in the amount of 2,500 units for a total amount vested of 5,000 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.
F4	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.