---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-007726"
form_type: "8-K"
ticker: "OSPN"
cik: "0001044777"
company_name: "OneSpan Inc."
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T04:10:30.151213+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# OneSpan grants CEO 300K PSUs with revenue targets; no SVB/Signature exposure

## Summary
- Company has no cash or cash equivalents with SVB or Signature Bank; both closed by regulators March 10 and 12, 2023.
- SVB and Signature are customers; company expects no material impact from receiverships on results or finances.
- Compensation Committee approved special 300,000 PSU award to CEO Matthew Moynahan tied to 2023-2025 revenue targets.
- 2023: 75,000 PSUs if 2023 revenue target met; 2024: sliding scale (50% at 95% target, 100% at 100%); 2025: up to 150,000.
- PSUs vest after 2025 performance period; accelerated vesting on termination without cause, good reason, death, or change in control.

## SEC filing metadata
- accession: 0001628280-23-007726
- form_type: 8-K
- ticker: OSPN
- cik: 0001044777
- company_name: OneSpan Inc.
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1044777/000162828023007726/0001628280-23-007726-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1044777/000162828023007726/ospn-20230311.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-007726
- JSON: https://secwatch.observer/filing/0001628280-23-007726.json
- Plain text: https://secwatch.observer/filing/0001628280-23-007726.txt

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