Justin K. Ferguson - 10 Jun 2021 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: 10 Jun 2021
Net transactions value: -$80,639
Form type: 4
Filing time: 14 Jun 2021, 17:19:24 UTC
Next filing: 06 Jul 2021
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	$0	+12,500		$0.000000	12,500	10 Jun 2021	Direct	F1
transaction	DZSI	Common Stock	Tax liability	$80,639	-4,038	-32%	$19.97	8,462	10 Jun 2021	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		-12,500	-33%		25,000	10 Jun 2021	Common Stock	12,500		Direct	F1

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

Explanation of Responses:

Id	Content
F1	This is the first vesting of the restricted stock units issued on October 5, 2020. Two remaining equal vestings will occur on June 10, 2022 and 2023, 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 on 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.