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  "documentTitle": "Legion One Span Presentation May 2021",
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  "presentationDate": "2021-05-01 00:00:00",
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  "notes": "The slide uses a series of pie charts to illustrate the stagnation of compensation metrics over time.",
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      "kind": "callout",
      "text": "OneSpan’s recent proxy statement declares that “subscription (SaaS) and license revenue” will be incorporated as a long-term performance metric beginning in 2021 – years after the transition started and is now nearing completion",
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      "text": "3-Year Total GAAP Revenue, 3-Year GAAP Software Revenue, Time-Based Equity Awards, TSR, 3-Year Total EBITDA",
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      "text": "Note: CEO Scott Clements became a Named Executive Officer in 2016; see Appendix for further detail. Source: SEC Filings, Legion Partners’ Estimates",
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      "text": "OneSpan’s long-term executive compensation program contains many duplicative measures (within the program and vs. annual program), lack performance metrics specific to recurring software revenue, and for years lacked TSR, ROIC and profitability performance metrics",
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