Misty Dawn Kawecki - 02 Aug 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: 02 Aug 2022
Net transactions value: -$65,513
Form type: 4
Filing time: 04 Aug 2022, 17:18:41 UTC
Previous filing: 05 Jul 2022
Next filing: 23 Feb 2023
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	+16,666		$0.000000	16,666	02 Aug 2022	Direct	F1
transaction	DZSI	Common Stock	Tax liability	$65,513	-4,559	-27%	$14.37	12,107	02 Aug 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		-16,666	-33%		33,334	02 Aug 2022	Common Stock	16,666		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 August 2, 2021. Two remaining equal vesting will occur on August 2, 2023 and 2024, 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.