OneSpan Inc. — Director's Dealing 2011

Nov 18, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VASCO DATA SECURITY INTERNATIONAL INC (VDSI)
CIK: 0001044777
Period of Report: 2011-11-16

Reporting Person: HUNT T KENDALL (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-16	Common Stock, $0.001 par value	S	1583	$8.50	Disposed	7974374	Direct
2011-11-16	Common Stock, $0.001 par value	S	52	$8.5304	Disposed	7974322	Direct
2011-11-16	Common Stock, $0.001 par value	S	200	$8.545	Disposed	7974122	Direct
2011-11-16	Common Stock, $0.001 par value	S	200	$8.525	Disposed	7973922	Direct
2011-11-16	Common Stock, $0.001 par value	S	248	$8.54	Disposed	7973674	Direct
2011-11-16	Common Stock, $0.001 par value	S	500	$8.53	Disposed	7973174	Direct
2011-11-16	Common Stock, $0.001 par value	S	800	$8.51	Disposed	7972374	Direct
2011-11-16	Common Stock, $0.001 par value	S	500	$8.52	Disposed	7971874	Direct
2011-11-16	Common Stock, $0.001 par value	S	300	$8.55	Disposed	7971574	Direct
2011-11-16	Common Stock, $0.001 par value	S	400	$8.56	Disposed	7971174	Direct
2011-11-16	Common Stock, $0.001 par value	S	100	$8.57	Disposed	7971074	Direct
2011-11-16	Common Stock, $0.001 par value	S	1088	$8.59	Disposed	7969986	Direct
2011-11-16	Common Stock, $0.001 par value	S	1400	$8.61	Disposed	7968586	Direct
2011-11-16	Common Stock, $0.001 par value	S	1312	$8.60	Disposed	7967274	Direct
2011-11-16	Common Stock, $0.001 par value	S	1289	$8.58	Disposed	7965985	Direct
2011-11-16	Common Stock, $0.001 par value	S	900	$8.5056	Disposed	7965085	Direct
2011-11-16	Common Stock, $0.001 par value	S	200	$8.585	Disposed	7964885	Direct
2011-11-16	Common Stock, $0.001 par value	S	100	$8.595	Disposed	7964785	Direct
2011-11-16	Common Stock, $0.001 par value	S	300	$8.625	Disposed	7964485	Direct
2011-11-16	Common Stock, $0.001 par value	S	900	$8.62	Disposed	7963585	Direct
2011-11-16	Common Stock, $0.001 par value	S	200	$8.64	Disposed	7963385	Direct
2011-11-16	Common Stock, $0.001 par value	S	600	$8.6425	Disposed	7962785	Direct
2011-11-16	Common Stock, $0.001 par value	S	200	$8.6625	Disposed	7962585	Direct
2011-11-16	Common Stock, $0.001 par value	S	140	$8.6529	Disposed	7962445	Direct
2011-11-16	Common Stock, $0.001 par value	S	1000	$8.65	Disposed	7961445	Direct
2011-11-16	Common Stock, $0.001 par value	S	700	$8.655	Disposed	7960745	Direct
2011-11-16	Common Stock, $0.001 par value	S	6260	$8.645	Disposed	7954485	Direct
2011-11-16	Common Stock, $0.001 par value	S	400	$8.63	Disposed	7954085	Direct
2011-11-16	Common Stock, $0.001 par value	S	200	$8.665	Disposed	7953885	Direct
2011-11-16	Common Stock, $0.001 par value	S	500	$8.66	Disposed	7953385	Direct