Charles D. Vogt - Jul 1, 2022 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, 2022
Transactions value $
-$367,358
Form type
4
Date filed
7/5/2022, 05:23 PM
Previous filing
Jun 14, 2022
Next filing
Feb 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DZSI Common Stock Options Exercise $0 +66.7K +332.63% $0.00 86.7K Jul 1, 2022 Direct F1
transaction DZSI Common Stock Tax liability -$367K -23K -26.53% $15.97 63.7K Jul 1, 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 Award +200K 200K Jul 1, 2022 Common Stock 200K Direct F3
transaction DZSI Restricted Stock Units Options Exercise -66.7K -33.33% 133K Jul 1, 2022 Common Stock 66.7K 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 July 1, 2021. Two remaining equal vesting will occur on July 1, 2023 and 2024, 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.
F3 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.