secwatch.observer — SEC 8-K summary
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Issuer:     OneSpan Inc. (OSPN)
CIK:        0001044777
Form:       8-K
Filed at:   2024-01-05T23:59:59+00:00
Accession:  0001628280-24-000522
Event type: leadership
Sentiment:  positive
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OneSpan names Victor Limongelli interim CEO; raises FY2023 guidance
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- CEO Matthew Moynahan terminated without cause effective Jan 4, 2024; replaced by interim CEO Victor Limongelli.
- Limongelli receives $75k/month base salary for up to 6 months; discretionary cash bonus of $300k-$1.5M; no equity grants.
- FY2023 revenue expected at high end of $228M-$232M range; ARR guidance $148M-$152M reaffirmed.
- FY2023 adjusted EBITDA to achieve/exceed high end of $2M-$4M range; FY2024 revenue target low-to-mid single-digit growth.
- FY2024 adjusted EBITDA margin target 20%-23%; aspirational goal of 30% Rule of 40 by end of 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1044777/000162828024000522/0001628280-24-000522-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1044777/000162828024000522/ospn-20240104.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-000522

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer