John Bosshart - May 23, 2022 Form 4 Insider Report for OneSpan Inc. (OSPN)

Role: Principal Accounting Officer
Signature: /s/ Matthew P. Moynahan, Attorney in Fact
Stock symbol: OSPN
Transactions as of: May 23, 2022
Transactions value $: -$9,905
Form type: 4
Date filed: 5/25/2022, 06:09 PM
Previous filing: Mar 3, 2022
Next filing: Aug 9, 2022

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	$33.8K	+2.63K	+84.86%	$12.83	5.74K	May 23, 2022	Direct
transaction	OSPN	Common Stock, $0.001 par value	Tax liability	-$9.9K	-772	-13.45%	$12.83	4.97K	May 23, 2022	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	-$33.8K	-2.63K	-49.99%	$12.83	2.64K	May 23, 2022	Common Stock	5.27K		Direct	F2, F3, F4
holding	OSPN	Restricted Stock Units						4.27K	May 23, 2022	Common Stock	4.27K		Direct	F4, F5, F6
holding	OSPN	Restricted Stock Units						2.26K	May 23, 2022	Common Stock	2.26K		Direct	F4, F5, F7
holding	OSPN	Restricted Stock Units						1.29K	May 23, 2022	Common Stock	1.29K		Direct	F8

* 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 November 23, 2020. Each restricted stock unit represents a contingent right to receive one share of OneSpan Inc.'s common stock.
F3	The shares acquired are restricted stock units and vest pro-rata over two years on the semi-annual anniversaries of the grant date.
F4	Not applicable.
F5	The reporting person received restricted stock unit grants on June 1, 2021. Each restricted stock unit represents a contingent right to receive one share of OneSpan Inc.'s common stock.
F6	The shares acquired are restricted stock units and vest pro-rata over two years on the quarterly anniversaries of the grant date.
F7	The shares acquired are restricted stock units and vest pro-rata over four years on the semi-annual anniversaries of the grant date.
F8	The reporting person received a performance stock unit grant on June 1, 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.