---
schema_version: "secwatch.filing_event.v1"
accession: "0001387131-21-012173"
form_type: "8-K"
ticker: "OSPN"
cik: "0001044777"
company_name: "OneSpan Inc."
filed_at: "2021-12-21T23:59:59+00:00"
generated_at: "2026-06-27T23:10:09.132874+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# OneSpan board approves restructuring plan targeting $10-12M annual savings

## Summary
- Board approved plan on Dec 16, 2021; expected to achieve $10-12M annual pre-tax cost savings for FY2022.
- Total charges of $3-4M expected in Q1 2022, primarily severance ($2.75-3.75M) and office space ($250K).
- Cost savings from headcount reductions, decreased leased office space, and external spend rationalization.
- Plan is first phase of a multi-year strategic plan; additional details expected in Q2 2022.

## SEC filing metadata
- accession: 0001387131-21-012173
- form_type: 8-K
- ticker: OSPN
- cik: 0001044777
- company_name: OneSpan Inc.
- filed_at: 2021-12-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1044777/000138713121012173/0001387131-21-012173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1044777/000138713121012173/ospn-8k_121621.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001387131-21-012173
- JSON: https://secwatch.observer/filing/0001387131-21-012173.json
- Plain text: https://secwatch.observer/filing/0001387131-21-012173.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.