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Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
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SCHEDULE 13D/A 0001606408 XXXXXXXX LIVE 3 Common Stock, par value $0.001 per share 12/04/2025 false 0001101680 23305L107 DZS INC. 5700 TENNYSON PARKWAY SUITE 400 PLANO TX 75024 SoonHo Kim 82-70-7010-1000 DTC Tower, 49 Daewangpangyo-ro 644Beon-gil, Bundang-gu Seongnam-si M5 13493 0001606408 N DASAN Networks, Inc. OO AF N M5 0 0 0 0 0 N 0 CO The percentage is calculated based on 38,789,398 shares of common stock, par value $0.001 per share (the "Common Stock"), of DZS Inc. (the "Issuer") outstanding as of October 31, 2024, as reported in the Issuer's Form 10-Q for the quarter ended September 30, 2024 filed with the Securities and Exchange Commission (the "SEC") on November 12, 2024. Common Stock, par value $0.001 per share DZS INC. 5700 TENNYSON PARKWAY SUITE 400 PLANO TX 75024 Explanatory Note This Amendment No. 3 to statement on Schedule 13D (this "Amendment No. 3") amends and supplements the Schedule 13D filed with the SEC on September 14, 2016 (as amended and supplemented by Amendment No. 1 to the statement on Schedule 13D filed with the SEC on February 5, 2021 and Amendment No. 2 to the statement on Schedule 13D filed with the SEC on November 21, 2022, collectively, the "Prior Schedule 13D," and as amended and supplemented by this Amendment No. 3, the "Schedule 13D"), and is being filed on behalf of the Reporting Person in respect of the Common Stock of the Issuer. Except as amended and supplemented herein, the information set forth in the Prior Schedule 13D remains unchanged. Capitalized terms used but not defined in this Amendment No. 3 have the respective meanings set forth in the Prior Schedule 13D. Item 2 of the Schedule 13D is hereby amended by incorporating herein by reference the information set forth on the updated Schedule A attached hereto. Item 4 of Schedule 13D is hereby amended and supplemented as follows: On December 4, 2025, the Reporting Person executed a sale of all of its 9,093,015 shares of Common Stock at a price per share of approximately $0.000074641 in a privately negotiated transaction (the "Disposition"). The sale price per share is in US Dollars and reflects the conversion of South Korean Won to USD at an exchange rate of $0.0006787 to South Korean Won 1.00 as of December 4, 2025. Item 5 of Schedule 13D is hereby amended and restated in its entirety as follows: The information contained on the cover pages is incorporated by reference to this Item 5. The information contained on the cover pages is incorporated by reference to this Item 5. Except as otherwise described in this Schedule 13D, the Reporting Person has not effected any transactions in the Common Stock or other equity securities of the Issuer during the last 60 days. To the knowledge of the Reporting Person, no other person has the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the securities of the Issuer reported herein. As a result of the Disposition, the Reporting Person ceased to be the beneficial owner of more than five percent of the outstanding Common Stock. Item 6 of the Schedule 13D is hereby amended and supplemented by the following: The information set forth in Item 4 of this Schedule 13D is incorporated into this Item 6 by reference. Schedule A. Directors and Officers of DASAN Networks, Inc. DASAN Networks, Inc. /s/ Min Woo Nam Min Woo Nam, Chief Executive Officer 12/17/2025