Form 4: DZS Inc. CEO Charles Vogt Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
DZS Inc. CEO Charles Vogt reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- On July 1, 2024, Charles Vogt, the President & CEO of DZS Inc., reported transactions related to the vesting of restricted stock units (RSUs).
- 66,668 RSUs vested from those issued on July 1, 2021, marking the third vesting event and bringing the total vested from that issuance to 200,000 units.
- Additionally, 66,792 RSUs vested from those issued on July 1, 2022, representing the second vesting event and bringing the total vested from that issuance to 133,584 units.
- DZS Inc. withheld 22,368 and 22,409 shares respectively to satisfy tax withholding requirements related to the vesting of these RSUs, priced at $1.16 per share.
- Following these transactions, Vogt's directly held common stock amounts to 275,246 shares.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.
Future Outlook
The remaining vesting of the 66,792 RSUs issued on July 1, 2022, will occur on July 1, 2025, subject to continued employment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, allowing investors to track changes in ownership.
Stakeholder Impact
- The vesting of RSUs and subsequent tax withholding may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 07/01/2021 | Date of original restricted stock units issuance (66,668 units vested). |
| 07/01/2022 | Date of original restricted stock units issuance (66,792 units vested). |
| 07/01/2024 | Date of RSU vesting and stock transactions. |
| 07/03/2024 | Date of Form 4 filing. |
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