Amendment: Director Choi Woong Ji converted options into 25,000 shares, increasing direct ownership by 50% to 75,000 units (SEC Form 4)
$DZSI
Telecommunications Equipment
Utilities
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
DZS INC. [ DZSI ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 09/30/2024 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) 10/02/2024 |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 09/30/2024 | M | 25,000 | A | (1) | 75,000 | D | |||
| Common Stock | 5,434,783 | I | By IV Global Fund No. 4(2) | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | (1) | 09/30/2024 | M | 25,000 | (1) | (1) | Comon Stock | 25,000 | (1) | 25,000 | D | ||||
| Explanation of Responses: |
| 1. This represents the second vesting on September 30, 2024, in the amount of 25,000 units for a total amount vested of 75,000 of the restricted stock units issued on September 6, 2024. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting. |
| 2. Represents shares of the issuer's common stock directly owned by IV Global Fund No. 4 ("IV Global"), whose general partner is Invites Ventures Co., Ltd. ("Invites Ventures"). Woong Ji Choi (the "Reporting Person"), in his capacity as the Chief Executive Officer of Invites Ventures, may be deemed to beneficially own the shares of the issuer's common stock directly owned by IV Global. The Reporting Person disclaims beneficial ownership of the shares directly owned by IV Global except to the extent of his pecuniary interest therein, and the inclusion of such shares in this Form 4 shall not be deemed an admission by the Reporting Person of beneficial ownership of such shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. |
| Remarks: |
| The original Form 4 filed on October 2, 2024 is amended by this Form 4 amendment (i) to add a row in Table I disclosing the Reporting Person's indirect ownership of shares of the issuer's common stock directly owned by IV Global, (ii) to indicate the Reporting Person's relationship to the issuer as a 10% Owner in addition to as a Director and (iii) to revise the spelling of the Reporting Person's name from "Woong Gee Choi" to "Woong Ji Choi". |
| /s/ Woong Ji Choi | 10/08/2024 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||