OneSpan Inc. — Director's Dealing 2012

Dec 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VASCO DATA SECURITY INTERNATIONAL INC (VDSI)
CIK: 0001044777
Period of Report: 2012-12-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-03	Common Stock, $0.001 par value	S	100	$7.50	Disposed	8034987	Direct
2012-12-03	Common Stock, $0.001 par value	S	100	$7.51	Disposed	8034887	Direct
2012-12-03	Common Stock, $0.001 par value	S	200	$7.52	Disposed	8034687	Direct
2012-12-03	Common Stock, $0.001 par value	S	300	$7.53	Disposed	8034387	Direct
2012-12-03	Common Stock, $0.001 par value	S	1300	$7.54	Disposed	8033087	Direct
2012-12-03	Common Stock, $0.001 par value	S	2600	$7.55	Disposed	8030487	Direct
2012-12-03	Common Stock, $0.001 par value	S	1300	$7.56	Disposed	8029187	Direct
2012-12-03	Common Stock, $0.001 par value	S	1000	$7.57	Disposed	8028187	Direct
2012-12-03	Common Stock, $0.001 par value	S	900	$7.58	Disposed	8027287	Direct
2012-12-03	Common Stock, $0.001 par value	S	1071	$7.59	Disposed	8026216	Direct
2012-12-03	Common Stock, $0.001 par value	S	129	$7.60	Disposed	8026087	Direct
2012-12-03	Common Stock, $0.001 par value	S	300	$7.61	Disposed	8025787	Direct
2012-12-03	Common Stock, $0.001 par value	S	200	$7.62	Disposed	8025587	Direct
2012-12-03	Common Stock, $0.001 par value	S	500	$7.63	Disposed	8025087	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.001 par value	343680	Indirect
Common Stock, $0.001 par value	100000	Indirect
Common Stock, $0.001 par value	511300	Indirect
Common Stock, $0.001 par value	100000	Indirect
Common Stock, $0.001 par value	1000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option to Purchase Common Stock, $0.001 par value	$2.53	2014-01-08	Common Stock, $0.001 par value (125000)	125000	Direct

Footnotes

F1: These shares held by the reporting person's stepdaughter who shares the reporting person's household. The reporting person disclaims beneficial ownership of the shares held by his stepdaughter and this report should not be deemed as admission that the reporting person is the beneficial owner of his stepdaughter's shares for purposes of Section 16 or for any other purpose.

F2: Omitted from prior Form 4 filings since August 28, 2012

F3: The reporting person disclaims beneficial ownership to the extent he does not have a pecuniary interest in the securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for the purpose of Section 16 or any other purpose.