Matthew Moynahan - Feb 23, 2023 Form 4 Insider Report for OneSpan Inc. (OSPN)

Role
Chief Executive Officer, Director
Signature
Lara Mataac, Attorney in Fact
Stock symbol
OSPN
Transactions as of
Feb 23, 2023
Transactions value $
-$186,412
Form type
4
Date filed
2/27/2023, 07:53 PM
Previous filing
Feb 21, 2023
Next filing
Aug 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OSPN Common Stock Options Exercise +47.5K +82.74% 105K Feb 23, 2023 Direct F1
transaction OSPN Common Stock Tax liability -$186K -14K -13.29% $13.36 91K Feb 27, 2023 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 Restricted Stock Units Award $0 +143K $0.00 143K Feb 23, 2023 Common Stock 143K Direct F1, F2
transaction OSPN Restricted Stock Units Options Exercise $0 -47.5K -33.33% $0.00 95.1K Feb 23, 2023 Common Stock 47.5K Direct F1, F2
transaction OSPN Restricted Stock Units Award $0 +128K $0.00 128K Feb 23, 2023 Common Stock 128K 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 June 23, 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 142,622 PSUs based upon the 2022 financial metrics. Effective on February 23, 2023, 1/3 (or 47,540) of the earned PSUs were deemed vested on December 31, 2022 and an additional 1/3 will vest on each of December 31, 2023 and 2024, assuming the reporting person continues to be employed by the registrant on each such 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.