Thu, Aug 1, 9:21 PM (127 days ago)
OneSpan Inc. announced the appointment of Victor Limongelli as President and CEO, effective July 31, 2024. Limongelli, who served as Interim CEO since January 2024, has a robust background in executive roles at various SaaS and security software companies. His compensation package includes a $600,000 annual base salary, a target bonus of $500,000 for the second half of 2024, and a performance-based annual long-term incentive award valued at $1.8 million starting in 2025. Limongelli also received equity grants, including 100,000 restricted stock units and 300,000 performance-based RSUs, contingent on achieving specific stock price goals. The Employment Agreement includes severance benefits and provisions for accelerated vesting in the event of a Change in Control. This leadership change is likely to impact OneSpan's strategic direction and could influence its stock value.