# EDGAR Filing Document

**Accession Number:** 0001783982
**File Stem:** 0001209191-23-000764
**Filing Date:** 2023-1
**Character Count:** 7435
**Document Hash:** 86d308ee523b9c0bae8d1728a5ce1506
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209191-23-000764.hdr.sgml**: 20230104

**ACCESSION NUMBER**: 0001209191-23-000764

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230104

**DATE AS OF CHANGE**: 20230104

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Yoo Choon Yul
- **CENTRAL INDEX KEY:** 0001783982

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-32743
- **FILM NUMBER:** 23505989

**MAIL ADDRESS:**
- **STREET 1:** C/O DASAN ZHONE SOLUTIONS, INC.
- **STREET 2:** 7195 OAKPORT ST.
- **CITY:** OAKLAND
- **STATE:** CA
- **ZIP:** 94621

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Yoo Choon Yul Yung
- **DATE OF NAME CHANGE:** 20190730
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DZS INC.
- **CENTRAL INDEX KEY:** 0001101680
- **STANDARD INDUSTRIAL CLASSIFICATION:** TELEPHONE & TELEGRAPH APPARATUS [3661]
- **IRS NUMBER:** 223509099
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 5700 TENNYSON PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 4693271531

**MAIL ADDRESS:**
- **STREET 1:** 5700 TENNYSON PARKWAY
- **STREET 2:** SUITE 400
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DASAN ZHONE SOLUTIONS INC
- **DATE OF NAME CHANGE:** 20160912

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZHONE TECHNOLOGIES INC
- **DATE OF NAME CHANGE:** 20031114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TELLIUM INC
- **DATE OF NAME CHANGE:** 20000911

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>Yoo Choon Yul<br><sub>(Last) (First) (Middle)</sub><br>C/O DZS INC.<br>5700 TENNYSON PKWY, 4TH FLOOR<br><sub>(Street)</sub><br>PLANO, TX 75024<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-12-31 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>DZS INC. [ DZSI ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2022-12-31 |  | M |  | 973 | A | 0.00<sup>(1)</sup> | 18572 | D |  |
| Common Stock | 2022-12-31 |  | M |  | 547 | A | 0.00<sup>(2)</sup> | 19119 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units | <sup>(1)</sup> | 2022-12-31 |  | M |  |  | 973 | <sup>(1)</sup> | <sup>(1)</sup> | Common Stock | 973 | <sup>(1)</sup> | 0 | D |  |
| Restricted Stock Units | <sup>(2)</sup> | 2022-12-31 |  | M |  |  | 547 | <sup>(2)</sup> | <sup>(2)</sup> | Common Stock | 547 | <sup>(2)</sup> | 0 | D |  |
| Restricted Stock Units | <sup>(3)</sup> | 2023-01-03 |  | M |  | 7806 |  | <sup>(3)</sup> | <sup>(3)</sup> | Common Stock | 7806 | <sup>(3)</sup> | 7806 | D |  |

---

### Footnotes:

(1) This represents the fourth vesting on December 31, 2022 in the amount of 973 units for a total amount vested of 3,889 of the restricted stock units issued on January 3, 2022. Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.

(2) This represents the second vesting on December 31, 2022 in the amount of 547 units for a total amount vested of 1,095 of the restricted stock units issued on July 1, 2022.  Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.

(3) These restricted stock units were granted pursuant to the issuer's 2017 Incentive Award Plan and will vest in four equal installments on March 31, 2023, June 30, 2023, September 30, 2023 and December 31, 2023, subject to the reporting person's continued service to the issuer on each such vesting date. Each restricted stock unit represents the right to receive one share of the company's common stock upon vesting.

**Signature:** /s/Laura Larsen-Misunas as Power of Attorney  
**Date:** 2023-01-04

### Remarks:

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.**