{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-033115","form_type":"8-K","ticker":"OSPN","cik":"0001044777","company_name":"OneSpan Inc.","filed_at":"2023-09-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.001308+00:00","generated_at":"2026-06-10T08:02:45.223654+00:00","sec_items":["7.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"OneSpan provides restructuring update: expects ~85% workforce reduction completion by year-end, $31M annual savings","bullets":["Completed significant workforce reductions in Q3; expects 85% of planned cuts done by end of 2023 with ~$31M annualized savings.","Restructuring charges estimated at $11-12M for employee transition and severance; most remaining cuts in 2024.","Reaffirms FY2023 revenue guidance $226-232M, adjusted EBITDA $0-3M; targeting FY2024 adj. EBITDA margin ≥20%.","Cash balance expected ~$65-70M at year-end 2023, including $7M restructuring payments and $3.5M in Q3 share repurchases.","Board considering additional mechanisms to return excess capital to shareholders amid limited trading liquidity."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-033115","json":"https://secwatch.observer/filing/0001628280-23-033115.json","markdown":"https://secwatch.observer/filing/0001628280-23-033115.md","text":"https://secwatch.observer/filing/0001628280-23-033115.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1044777/000162828023033115/0001628280-23-033115-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1044777/000162828023033115/ospn-20230927.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T08:02:45.223654+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}