---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-22-009070"
form_type: "8-K"
ticker: "OSPN"
cik: "0001044777"
company_name: "OneSpan Inc."
filed_at: "2022-05-17T23:59:59+00:00"
generated_at: "2026-06-25T11:04:59.363420+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# OneSpan approves Phase Two restructuring ($10-17M charges, $20-25M annual savings) and $50M share repurchase program

## Summary
- Phase Two headcount reduction approved; total charges estimated $10M-$17M through 2025, all severance.
- Phase One (Q1 2022) incurred $2.7M in charges; expected to generate $10M-$12M in annualized savings.
- Combined Phase One and Phase Two expected to deliver $30M-$37M in annualized savings for three-year plan.
- Board terminated prior buyback program; authorized new $50M share repurchase program expiring May 11, 2024.
- Repurchases may be made in open market or private transactions at company's discretion depending on conditions.

## SEC filing metadata
- accession: 0001558370-22-009070
- form_type: 8-K
- ticker: OSPN
- cik: 0001044777
- company_name: OneSpan Inc.
- filed_at: 2022-05-17T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.05, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1044777/000155837022009070/0001558370-22-009070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1044777/000155837022009070/ospn-20220512x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-22-009070
- JSON: https://secwatch.observer/filing/0001558370-22-009070.json
- Plain text: https://secwatch.observer/filing/0001558370-22-009070.txt

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