OneSpan Appoints Shashi Krishnan as CEO
Ticker: OSPN · Form: 8-K · Filed: May 14, 2024 · CIK: 1044777
| Field | Detail |
|---|---|
| Company | Onespan Inc. (OSPN) |
| Form Type | 8-K |
| Filed Date | May 14, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $50 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, ceo-appointment
Related Tickers: OSPN
TL;DR
OneSpan names Shashi Krishnan permanent CEO, effective immediately.
AI Summary
On May 9, 2024, OneSpan Inc. announced the appointment of Shashi Krishnan as its new Chief Executive Officer, effective immediately. Krishnan, who has been serving as interim CEO since January 2024, will also join the company's Board of Directors. He previously held leadership roles at various technology companies.
Why It Matters
The appointment of a permanent CEO is a significant event for OneSpan, potentially signaling a new strategic direction and stability for the company.
Risk Assessment
Risk Level: medium — CEO transitions can introduce uncertainty regarding future strategy and execution, impacting investor confidence.
Key Players & Entities
- OneSpan Inc. (company) — The company filing the report.
- Shashi Krishnan (person) — Newly appointed Chief Executive Officer.
- May 9, 2024 (date) — Effective date of the CEO appointment.
- January 2024 (date) — Start date of interim CEO role.
FAQ
Who has been appointed as the new CEO of OneSpan Inc.?
Shashi Krishnan has been appointed as the new Chief Executive Officer of OneSpan Inc.
When is the appointment of Shashi Krishnan as CEO effective?
The appointment is effective immediately as of May 9, 2024.
What other role will Shashi Krishnan assume?
Shashi Krishnan will also join the company's Board of Directors.
What was Shashi Krishnan's previous role at OneSpan?
Shashi Krishnan was serving as the interim CEO since January 2024.
What is the exact date of the report?
The date of the report is May 9, 2024.
Filing Stats: 558 words · 2 min read · ~2 pages · Grade level 13.9 · Accepted 2024-05-14 16:04:30
Key Financial Figures
- $50 million — mpany is authorized to repurchase up to $50 million of the Company's issued and outstanding
Filing Documents
- ospn-20240509.htm (8-K) — 23KB
- 0001628280-24-023192.txt ( ) — 146KB
- ospn-20240509.xsd (EX-101.SCH) — 2KB
- ospn-20240509_lab.xml (EX-101.LAB) — 22KB
- ospn-20240509_pre.xml (EX-101.PRE) — 13KB
- ospn-20240509_htm.xml (XML) — 3KB
01 Other Events
ITEM 8.01 Other Events On May 9, 2024, the Board of Directors (the " Board ") of OneSpan Inc. (the " Company ") terminated the stock repurchase program adopted by the Board on May 11, 2022 and adopted a new stock repurchase program (the " Repurchase Program ") under which the Company is authorized to repurchase up to $50 million of the Company's issued and outstanding shares of common stock, exclusive of any fees, commissions, or other expenses related to such repurchases, on or prior to May 9, 2026. The Repurchase Program does not require the Company to acquire a specific number of shares, and the Repurchase Program may be modified, suspended from time to time, or terminated. Share purchases under Repurchase Program may take place in open market transactions, through tender offers, or in privately negotiated transactions and may be made from time to time depending on market conditions, share price, trading volume, and other factors. The timing of any repurchases and the amount of common stock repurchased in any transaction is subject to the Company's sole discretion and will depend upon market and business conditions, applicable legal and credit requirements and other considerations that management considers relevant. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 14, 2024 OneSpan Inc. /s/ Jorge Martell Jorge Martell Chief Financial Officer (Principal Financial and Accounting Officer)