Jorge Garcia Martell - Feb 23, 2023 Form 4 Insider Report for OneSpan Inc. (OSPN)

Role
Chief Financial Officer
Signature
/s/ Lara Mataac, Attorney in Fact
Stock symbol
OSPN
Transactions as of
Feb 23, 2023
Transactions value $
$0
Form type
4
Date filed
2/27/2023, 07:52 PM
Previous filing
Sep 8, 2022
Next filing
Mar 6, 2023

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 Award $0 +86.9K $0.00 86.9K Feb 23, 2023 Common Stock 86.9K Direct F1, F2
transaction OSPN Restricted Stock Units Award $0 +18.2K $0.00 18.2K Feb 23, 2023 Common Stock 18.2K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of OSPN common stock.
F2 On September 6 2022, the reporting person was granted performance stock units (PSUs) that were eligible to be earned based upon the registrant's achievement of specified financial metrics for 2022. On February 23, 2023, the registrant's Compensation Committee determined that the reporting person had earned 86,855 PSUs based upon the 2022 financial metrics. The earned PSUs will vest on December 31, 2024, assuming the reporting person continues to be employed by the registrant on that date.
F3 The restricted stock units vest over three years starting on February 23, 2023, with one-third of the shares vesting on February 23, 2024 and one-sixth of the shares vesting every six months thereafter.