Long-Term Compensation Plan and Stock Based Compensation

3 Months Ended

Mar. 31, 2020

Long-Term Compensation Plan and Stock Based Compensation

Note 12 – Long-Term Compensation Plan and Stock Based Compensation (share counts in thousands)

Under the OneSpan Inc. 2019 Omnibus Incentive Plan, we awarded 136 restricted stock units during the three months ended March 31, 2020, subject to time-based vesting. During the same period we awarded restricted stock units some of which are subject to the achievement of future performance criteria and others that are subject to the achievement of market conditions. For the restricted stock units for which performance criteria have been established, the Company currently believes it is probable that 32 unissued shares will be earned. The restricted stock units subject to market conditions allow for up to 64 shares to be earned if the market conditions are fully achieved. The fair value of the unissued 136 restricted stock units was $2.6 million at the date of grant, and is being amortized over the vesting period of one to four years. The fair value of the 96 unissued shares subject to performance criteria or market conditions was approximately $1 million at the date of grant, and is being amortized over the vesting period of three years.

The following table details long-term compensation plan and stock-based compensation expense for the three months ended March 31, 2020 and 2019:


	March 31,
	2020		2019
in thousands	(in thousands)
Restricted stock	$	1,350	$	552
Long-term compensation plan		365		503
Total compensation	$	1,715	$	1,055