Form 4: OneSpan Inc. Director Sarika Garg Acquires Deferred Restricted Stock Units

Director Sarika Garg acquired 6,635 deferred restricted stock units of OneSpan Inc. on January 2, 2025, which will vest on January 2, 2026, subject to continued service on the board.

Summary

• Sarika Garg, a director of OneSpan Inc., reported the acquisition of 6,635 deferred restricted stock units on January 2, 2025.
• These restricted stock units represent a contingent right to receive one share of OSPN common stock each.
• The units will vest on January 2, 2026, contingent upon the terms and conditions of the award agreement.
• Once vested, the underlying shares will be delivered upon the earlier of Garg's cessation of service on the Board of Directors or a change of control of OneSpan Inc.
• Following the transaction, Garg directly owns 6,635 shares of OneSpan Inc.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and aligns incentives. There are no indications of negative events or concerns.

Future Outlook

The shares underlying the deferred restricted stock units will be delivered to Sarika Garg upon the earlier of her cessation of service on the issuer's Board of Directors or a change of control of the issuer, once they have vested.

Industry Context

This is a standard Form 4 filing, reflecting a director's acquisition of restricted stock units, a common form of executive compensation.

Stakeholder Impact

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders, incentivizing her to work towards the long-term success of the company.

Key Dates