Charles D. Vogt - 10 Jun 2022 Form 4 Insider Report for DZS INC. (DZSIQ)

Role: President & CEO, Director
Signature: /s/Laura Larsen-Misunas as Power of Attorney
Issuer symbol: DZSIQ
Transactions as of: 10 Jun 2022
Net transactions value: -$85,315
Form type: 4
Filing time: 14 Jun 2022, 16:56:02 UTC
Previous filing: 01 Jun 2022
Next filing: 05 Jul 2022
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	+14,814	+148%	$0.000000	24,835	10 Jun 2022	Direct	F1
transaction	DZSI	Common Stock	Tax liability	$85,315	-4,793	-19%	$17.80	20,042	10 Jun 2022	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		-14,814	-50%		14,816	10 Jun 2022	Common Stock	14,814		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 second vesting of the restricted stock units issued on August 1, 2020. One remaining equal vesting will occur on June 10, 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.