Steven R. Worth - 01 Mar 2022 Form 4 Insider Report for OneSpan Inc. (OSPN)

Role
General Counsel
Signature
/s/ Steven R. Worth
Issuer symbol
OSPN
Transactions as of
01 Mar 2022
Net transactions value
-$197,573
Form type
4
Filing time
03 Mar 2022, 08:13:05 UTC
Previous filing
22 Feb 2022
SEC
View on sec.gov

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 $244,859 +14,463 +32% $16.93 59,302 01 Mar 2022 Direct
transaction OSPN Common Stock, $0.001 par value Tax liability $71,428 -4,219 -7.1% $16.93 55,083 01 Mar 2022 Direct

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 Performance Stock Units Options Exercise $371,004 -21,914 -100% $16.93 0 01 Mar 2022 Common Stock 21,914 Direct F8
holding OSPN Restricted Stock Units 8,718 01 Mar 2022 Common Stock 8,718 Direct F1, F2, F3
holding OSPN Restricted Stock Units 9,422 01 Mar 2022 Common Stock 9,422 Direct F2, F3, F4
holding OSPN Restricted Stock Units 5,479 01 Mar 2022 Common Stock 5,479 Direct F2, F3, F5
holding OSPN Performance Stock Units 17,436 01 Mar 2022 Common Stock 17,436 Direct F6
holding OSPN Performance Stock Units 14,134 01 Mar 2022 Common Stock 14,134 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 The shares are restricted stock units and vest pro-rata over four years on the semi-annual anniversaries of the grant date.
F3 Not applicable.
F4 The reporting person received a restricted stock unit grant on May 1, 2020. Each restricted stock unit represents a contingent right to receive one share of OneSpan's common stock.
F5 The reporting person received a restricted stock unit grant on June 12, 2019. Each restricted stock unit represents a contingent right to receive one share of OneSpan's common stock.
F6 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.
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 August 1, 2019. Each performance stock unit represents a right to receive one share of OneSpan's common stock. It was determined on March 1, 2022 that the performance criteria established by the Compensation Committee of the Board were partially met, and the stock units cliff vested.

Remarks:

In total, the reporting person beneficially owns 55,083 non-derivative securities and 55,189 derivative securities.