Misty Dawn Kawecki - 30 Jun 2022 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
30 Jun 2022
Net transactions value
$0
Form type
4
Filing time
05 Jul 2022, 17:22:04 UTC
Previous filing
01 Jun 2022
Next filing
04 Aug 2022
SEC
View on sec.gov

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 Stock Optons Disposed to Issuer -100,000 -100% 0 30 Jun 2022 Common Stock 100,000 $18.88 Direct F1, F2
transaction DZSI Restricted Stock Units Award +50,000 50,000 30 Jun 2022 Common Stock 50,000 Direct F2, F3
transaction DZSI Restricted Stock Units Award +50,094 50,094 01 Jul 2022 Common Stock 50,094 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These options were granted pursuant to the Issuer's 2017 Incentive Award Plan and will vest over a three year vesting schedule as follows: 33% of the options will vest on August 2, 2022, and the remainder will vest in 24 equal monthly installments thereafter, subject to the Reporting Person's continued employment with the Issuer on each vesting date.
F2 On June 30, 2022, The Issuer and the Reporting Person agreed to exchange certain unvested stock options of the Issuer for restricted stock units of the Issuer, at the ratio of one restricted stock unit for two stock options.
F3 These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in two equal installments on June 30, 2023 and 2024, 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.
F4 These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in three equal installments on July 1, 2023, 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.