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( Mark One ) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Common Stock , $ 0.001 Par Value For the fiscal year ended December 31 , 2020 OR Delaware ( State or other jurisdiction of incorporation or organization ) Large accelerated filer Non - accelerated filer For the transition period from to Commission File Number : 000-32743 DZS INC . ( Exact name of registrant as specified in its charter ) 00 indicated . 5700 Tennyson Parkway , Suite 400 Plano , Texas 75024 Trading Symbol DZSI Securities registered pursuant to Section 12 ( g ) of the Exchange Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 ( d ) of the Exchange Act . Yes No X 22-3509099 ( I.R.S. Employer Identification No. ) ( Address of principal executive office ) Registrant's telephone number , including area code : ( 469 ) 327-1531 Securities registered pursuant to Section 12 ( b ) of the Exchange Act : Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No Name of each exchange on which registered The Nasdaq Capital Market Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( § 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company , " and " emerging growth company " in Rule 12b - 2 of the Exchange Act : Accelerated filer Smaller reporting company Emerging growth company | | □ If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . X Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's definitive Proxy Statement for its 2021 Annual Meeting of Stockholders are incorporated by reference into Part III where Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes No As of March 5 , 2021 , there were 26,840,225 shares outstanding of the registrant's common stock , $ 0.001 par value . As of June 30 , 2020 ( the last business day of the registrant's most recently completed second fiscal quarter ) , the aggregate market value of the common stock held by non - affiliates of the registrant was approximately $ 107,159,920 .