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

Role
Chief Executive Officer, Director
Signature
Lara Mataac, Attorney in Fact
Issuer symbol
OSPN
Transactions as of
23 Feb 2023
Net transactions value
-$186,412
Form type
4
Filing time
27 Feb 2023, 19:53:08 UTC
Previous filing
21 Feb 2023
Next filing
17 Aug 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OSPN Common Stock Options Exercise +47,540 +83% 104,997 23 Feb 2023 Direct F1
transaction OSPN Common Stock Tax liability $186,412 -13,953 -13% $13.36 91,044 27 Feb 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 +142,622 $0.000000 142,622 23 Feb 2023 Common Stock 142,622 Direct F1, F2
transaction OSPN Restricted Stock Units Options Exercise $0 -47,540 -33% $0.000000 95,082 23 Feb 2023 Common Stock 47,540 Direct F1, F2
transaction OSPN Restricted Stock Units Award $0 +127,552 $0.000000 127,552 23 Feb 2023 Common Stock 127,552 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.