OneSpan Inc. — Director's Dealing 2012

Sep 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VASCO DATA SECURITY INTERNATIONAL INC (VDSI)
CIK: 0001044777
Period of Report: 2012-08-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-31	Common Stock, $0.001 par value	M	2200	$0.72	Acquired	8099787	Direct
2012-08-31	Common Stock, $0.001 par value	S	2200	$9.50	Disposed	8097587	Direct
2012-09-04	Common Stock, $0.001 par value	M	9469	$0.72	Acquired	8107056	Direct
2012-09-04	Common Stock, $0.001 par value	S	9469	$9.50	Disposed	8097587	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-31	Option to Purchase Common Stock, $0.001 par value	$0.72	M	2200	Disposed	2013-01-09	Common Stock, $0.001 par value (2200)	Direct
2012-09-04	Option to Purchase Common Stock, $0.001 par value	$0.72	M	9469	Disposed	2013-01-09	Common Stock, $0.001 par value (9469)	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	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.