Form 4: DZS Inc. Chief Legal Officer Reports Stock Transactions
SEC Form 4 Filing
Justin K. Ferguson, Chief Legal Officer of DZS Inc., reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On October 1, 2024, Justin K. Ferguson, the Chief Legal Officer of DZS Inc., had 6,668 restricted stock units vest.
- These units represent the right to receive one share of DZS Inc.'s common stock per unit.
- This was the third vesting, bringing the total vested units to 20,000 out of the restricted stock units issued on October 1, 2021.
- DZS Inc. withheld 2,238 shares to satisfy tax withholding requirements at a price of $0.56 per share.
- Following these transactions, Ferguson directly owns 103,460 shares of DZS Inc. common stock.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting standard executive compensation practices.
Industry Context
This is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the stock-based compensation of key executives.
Stakeholder Impact
- The vesting of stock options and subsequent tax withholding has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/01/2021 | Date of original restricted stock unit issuance. |
| 10/01/2024 | Date of restricted stock units vesting and tax withholding. |
| 10/02/2024 | Date of signature on the Form 4 filing. |
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