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  "documentTitle": "Legion One Span Presentation May 2021",
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  "notes": "The slide uses a chronological comparison to frame the board's actions as reactive rather than proactive.",
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      "kind": "callout",
      "text": "These incremental changes appear to have failed to reverse years of prolonged underperformance – we believe more change is needed to ensure a sustainable, positive future",
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      "text": "Note: Dollar-Based Net Expansion (“DBNE”) rate. Source: SEC Filings, Company Presentations (Investor Presentation, 6/16/20, and Q3 2020 Earnings Call Presentation, 11/2/20), Legion Partners",
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      "text": "Legion Actions vs OneSpan Board Reactions timeline",
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      "text": "A Pattern of Reactive Maneuvers Appears Due to Legion Pressure",
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