Form 4: OneSpan Inc. Director Sarika Garg Reports Stock Unit Vesting

Director Sarika Garg reports the vesting of restricted stock units convertible to 12,914 shares of OneSpan Inc. common stock on January 9, 2025.

Summary

• On January 9, 2025, Sarika Garg, a director of OneSpan Inc., had 12,914 restricted stock units vest.
• These units were converted into 12,914 shares of OSPN common stock.
• Following the transaction, Ms. Garg directly owns 42,038 shares of OneSpan Inc.
• The restricted stock units vested on January 9, 2025, and the underlying shares will be delivered upon cessation of service on the Board or a change in control of the issuer.

Sentiment

Score: 5

Explanation: This is a routine disclosure of stock unit vesting, neither particularly positive nor negative.

Industry Context

This is a standard disclosure related to executive compensation and is common in the technology industry where stock-based compensation is prevalent.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded technology companies like OneSpan, used to align the interests of executives and shareholders.
• Companies such as Okta, Docusign, and CrowdStrike also utilize restricted stock units as part of their compensation packages.
• The vesting schedules and terms of these units are typically detailed in the company's proxy statements.

Stakeholder Impact

• The vesting of stock units can have a minor dilutive effect on existing shareholders.

Key Dates