Scott Clements - Jul 15, 2021 Form 4 Insider Report for OneSpan Inc. (OSPN)

Role
President and CEO, Director
Signature
/s/ Steven R. Worth, Attorney in Fact
Stock symbol
OSPN
Transactions as of
Jul 15, 2021
Transactions value $
-$78,589
Form type
4
Date filed
7/19/2021, 04:54 PM
Previous filing
Jul 7, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OSPN Common Stock, $0.001 par value Options Exercise $179K +7.57K +4.38% $23.65 180K Jul 15, 2021 Direct
transaction OSPN Common Stock, $0.001 par value Tax liability -$78.6K -3.32K -1.84% $23.65 177K Jul 15, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OSPN Restricted Stock Units Options Exercise -$179K -7.57K -16.67% $23.65 37.8K Jul 15, 2021 Common Stock 45.4K Direct F3, F4, F5
holding OSPN Restricted Stock Units 47.1K Jul 15, 2021 Common Stock 47.1K Direct F2, F3, F4
holding OSPN Restricted Stock Units 27K Jul 15, 2021 Common Stock 27K Direct F3, F4, F6
holding OSPN Performance Stock Units 70.7K Jul 15, 2021 Common Stock 70.7K Direct F7
holding OSPN Performance Stock Units 90.8K Jul 15, 2021 Common Stock 90.8K Direct F8
holding OSPN Performance Stock Units 81K Jul 15, 2021 Common Stock 81K Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were sold to cover tax withholding obligations for the vest of restricted stock units.
F2 The reporting person received a restricted stock unit grant on February 18, 2021. Each restricted stock unit represents a contingent right to receive one share of OneSpan's common stock.
F3 The shares acquired are restricted stock units and vest pro-rata over four years on the semi-annual anniversaries of the grant date.
F4 Not applicable.
F5 The reporting person received a restricted stock unit grant on January 15, 2020. Each restricted stock unit represents a contingent right to receive one share of OneSpan's common stock.
F6 The reporting person received a restricted stock unit grant upon approval of the OneSpan Inc. 2019 Omnibus Incentive Plan (the "2019 Plan") at the Annual Meeting of Stockholders of OneSpan Inc. held on June 12, 2019. The 2019 Plan was approved by the Board on February 1, 2019, subject to stockholder approval. Each restricted stock unit represents a contingent right to receive one share of OneSpan's common stock.
F7 The reporting person received a performance stock unit grant on February 18, 2021. Each performance stock unit represents a right to receive one share of OneSpan's common stock. The performance stock units cliff vest at the expiration date if the performance criteria established by the Compensation Committee of the Board are met.
F8 The reporting person received a performance stock unit grant on January 15, 2020. Each performance stock unit represents a right to receive one share of OneSpan's common stock. The performance stock units cliff vest at the expiration date if the performance criteria established by the Compensation Committee of the Board are met.
F9 The reporting person received a performance stock unit grant on February 1, 2019. Each performance stock unit represents a right to receive one share of OneSpan's common stock. The performance stock units cliff vest at the expiration date if the performance criteria established by the Compensation Committee of the Board are met.

Remarks:

In total, the reporting person beneficially owns 176,924 non-derivative securities and 354,478 derivative securities.