OneSpan Inc. — Director's Dealing 2012

Jan 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VASCO DATA SECURITY INTERNATIONAL INC (VDSI)
CIK: 0001044777
Period of Report: 2012-01-04

Reporting Person: VALCKE JAN E C (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-04	Common Stock, $0.001 par value	M	50000	$2.27	Acquired	200237	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-04	Option to Purchase Common Stock, $0.001 par value	$2.27	M	50000	Disposed	2012-01-09	Common Stock, $0.001 par value (50000)	Direct