Details How the Board’s Deeply Ingrained, Insular Culture and Company’s Strategic Failures Have Resulted in Severe Stock Price Underperformance
Company’s Reactive Maneuvers Have Not Resulted in Improved TSR and Do Not Represent True Refreshment
Encourages Fellow Stockholders to Vote on the WHITE Proxy Card FOR Its Independent Directors – Sarika Garg, Sagar Gupta, Michael J. McConnell and Rinki Sethi
LOS ANGELES--(BUSINESS WIRE)-- Legion Partners Asset Management, LLC, which, together with its affiliates (collectively, “Legion Partners” or “Legion”), beneficially owns 2,790,121 shares of common stock of OneSpan Inc. (“OneSpan” or the “Company”) (Nasdaq: OSPN), representing approximately 6.9% of the outstanding stock, today issued a presentation highlighting the need for new independent directors on OneSpan’s Board of Directors (the “Board”). Legion Partners has nominated four highly-qualified independent directors for election to the Company’s Board at the Company’s 2021 Annual Meeting of Stockholders (the “Annual Meeting”): Sarika Garg, Sagar Gupta, Michael J. McConnell and Rinki Sethi.
The full presentation is available at: https://protectonespan.com/wp-content/uploads/2021/05/Legion-Partners-OSPN-Proxy-Fight-Presentation-vFF-5.16.21.pdf
Key points from the presentation include:
Legion’s nominees represent a world-class group of technologists, operators, executives and investors who have overseen, led and invested in numerous successful modern public software and hardware companies.
For more information about Legion’s case for change at OneSpan, please visit https://protectonespan.com/.
VOTE FOR LEGION’S FOUR NOMINEES ON THE WHITE PROXY CARD TODAY
About Legion Partners
Legion Partners is a value-oriented investment manager based in Los Angeles, with a satellite office in Sacramento, CA.Legion Partners seeks to invest in high-quality businesses that are temporarily trading at a discount, utilizing deep fundamental research and long-term shareholder engagement. Legion Partners manages a concentrated portfolio of North American small-cap equities on behalf of some of the world’s largest institutional and HNW investors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210518005579/en/
Media Contact: Sloane & CompanyJoe Germani / Dan Zaccheijgermani@sloanepr.com / dzacchei@sloanepr.com
Investor Contact: Saratoga Proxy Consulting LLCJohn Ferguson / Joe Mills (212) 257-1311 info@saratogaproxy.com
Source: Legion Partners Asset Management, LLC