OneSpan Inc. — Director's Dealing 2012

Jan 11, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VASCO DATA SECURITY INTERNATIONAL INC (VDSI)
CIK: 0001044777
Period of Report: 2012-01-09

Reporting Person: BOWN CLIFFORD K (Executive VP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-09	Common Stock, $0.001 par value	A	23480	—	Acquired	130514	Direct
2012-01-10	Common Stock, $0.001 par value	M	50000	$6.38	Acquired	180514	Direct
2012-01-10	Common Stock, $0.001 par value	F	44347	$7.74	Disposed	136167	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-10	Option to Purchase Common Stock, $0.001 par value	$6.38	M	50000	Disposed	2012-01-14	Common Stock, $0.001 par value (50000)	Direct

Footnotes

F1: All shares are restricted common stock. Restricted stock vests 25% each anniversary of the date of grant. Restricted stock also vests fully at death or disability.