Form 4: DZS Inc. Chief Legal Officer Reports Stock Transactions Following RSU Vesting

Justin K. Ferguson, Chief Legal Officer of DZS Inc., 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, Justin K. Ferguson, the Chief Legal Officer of DZS Inc., had restricted stock units (RSUs) vest.
• These vestings relate to grants issued on July 1, 2021, and July 1, 2022.
• A portion of the vested shares was withheld by DZS to satisfy tax obligations.
• Ferguson acquired 2,500 shares from the 2021 grant, 2,500 shares from one 2022 grant, and 16,698 shares from another 2022 grant.
• A total of 817 shares were withheld at $1.16 per share for the first two vestings and 5,452 shares were withheld at $1.16 per share for the third vesting to cover taxes.
• Following these transactions, Ferguson directly owns 65,355 shares of DZS Inc. common stock.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation and stock ownership, with no particularly positive or negative implications.

Future Outlook

The remaining vesting of the restricted stock units will occur on July 1, 2025, contingent upon the reporting person's continued employment with the issuer.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock ownership of a key executive.
• The transactions have a minor impact on the overall share count due to the vesting and subsequent tax withholding.

Key Dates