Charles D. Vogt - Jul 1, 2023 Form 4 Insider Report for DZS INC. (DZSI)

Role
President & CEO, Director
Signature
/s/Laura Larsen-Misunas as Power of Attorney
Stock symbol
DZSI
Transactions as of
Jul 1, 2023
Transactions value $
-$197,893
Form type
4
Date filed
7/5/2023, 07:51 PM
Previous filing
Jun 13, 2023
Next filing
Jul 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DZSI Common Stock Options Exercise +66.7K +64.75% 170K Jul 1, 2023 Direct F1
transaction DZSI Common Stock Tax liability -$98.9K -24.9K -14.68% $3.97 145K Jul 1, 2023 Direct F2
transaction DZSI Common Stock Options Exercise +66.8K +46.15% 212K Jul 1, 2023 Direct F3
transaction DZSI Common Stock Tax liability -$99K -24.9K -11.79% $3.97 187K Jul 1, 2023 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 -66.7K -50% 66.7K Jul 1, 2023 Common Stock 66.7K Direct F1
transaction DZSI Restricted Stock Units Options Exercise -66.8K -33.33% 134K Jul 1, 2023 Common Stock 66.8K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Charles D. Vogt is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This represents the second vesting on July 1, 2023 in the amount of 66,666 units for a total amount vested of 133,332 of the restricted stock units issued on July 1, 2021. The remaining vesting will occur on July 1, 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 units.
F3 This represents the first vesting on July 1, 2023 in the amount of 66,792 units for a total amount vested of 66,792 of the restricted stock units issued on July 1, 2022. The remaining vesting will occur on July 1, 2024 and 2025 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 one share of the issuer's common stock upon vesting.