Form 4: DZS Inc. CFO Misty Dawn Kawecki Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Chief Financial Officer Misty Dawn Kawecki of DZS Inc. reports the vesting of restricted stock units and subsequent tax withholding, resulting in adjustments to her beneficial ownership of common stock.
Summary
- On July 1, 2024, Misty Dawn Kawecki, CFO of DZS Inc., had restricted stock units (RSUs) vest, specifically 25,000 units from an issuance on July 1, 2022, and 16,698 units from another issuance on the same date.
- These vestings represent the second tranche of the RSUs, with the first vesting having occurred previously.
- Following the vesting of the 25,000 RSUs, Kawecki directly owns 90,465 shares of common stock.
- DZS withheld 8,163 shares to cover tax obligations related to the vesting of the 25,000 RSUs, valued at $1.16 per share, leaving Kawecki with 82,302 shares.
- Following the vesting of the 16,698 RSUs, Kawecki directly owns 99,000 shares of common stock.
- DZS withheld 5,452 shares to cover tax obligations related to the vesting of the 16,698 RSUs, valued at $1.16 per share, leaving Kawecki with 93,548 shares.
- The remaining RSUs from the July 1, 2022 issuance will vest on July 1, 2025, contingent upon Kawecki's continued employment with DZS Inc.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions, and the sentiment is neutral.
Future Outlook
The remaining restricted stock units will vest on July 1, 2025, contingent upon the reporting person's continued employment with the issuer.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- Shareholders are informed about changes in beneficial ownership by company insiders.
- Employees, particularly executives, are impacted by the vesting of their equity compensation.
Next Steps
- The remaining restricted stock units will vest on July 1, 2025, subject to continued employment.
Key Dates
| Date | Description |
|---|---|
| 07/01/2022 | Date of issuance of restricted stock units that vested on July 1, 2024 and will vest on July 1, 2025. |
| 07/01/2024 | Date of the reported transactions: vesting of restricted stock units and tax withholding. |
| 07/01/2025 | Future vesting date for the remaining restricted stock units, contingent upon continued employment. |
| 07/03/2024 | Date of signature for the Form 4 filing. |
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