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Long-Term Compensation Plan and Stock Based Compensation | 9 Months Ended
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Sep. 30, 2021
Long-Term Compensation Plan and Stock Based Compensation |
Long-Term Compensation Plan and Stock Based Compensation | Note 12 – Long-Term Compensation Plan and Stock Based Compensation (share counts in thousands) Under the OneSpan Inc. 2019 Omnibus Incentive Plan, we award restricted stock units subject to time-based vesting, restricted stock units which are subject to the achievement of future performance criteria and restricted stock units that are subject to the achievement of market conditions. Other long-term incentive plan compensation expense includes cash incentives. ​ We awarded 242 restricted stock units during the nine months ended September 30, 2021, subject to time-based vesting. The fair value of the unissued time-based restricted stock unit grants was $6.2 million at the dates of grant and the grants are being amortized over the vesting periods of one to four years. ​ We awarded restricted stock unit grants during the nine months ended September 30, 2021, subject to the achievement of market and service conditions, which allow for up to 53 shares to be earned if the market conditions are fully achieved. The fair value of these awards was $2.2 million at the dates of grant and the awards are being amortized over the vesting period of three years. The Company currently believes that 45 of these shares are expected to be earned. ​ We awarded restricted stock units subject to the achievement of service and future performance criteria during the nine months ended September 30, 2021, which allow for up to 201 shares to be earned if the performance criteria are fully achieved. The fair value of these awards was $4.8 million at the dates of grant and the awards are being amortized over the vesting period of one to three years. The Company currently believes that 184 of these shares are expected to be earned. ​ The following table details long-term compensation plan and stock-based compensation expense for the three and nine months ended September 30, 2021 and 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Nine months ended | ​
​ | ​ | September 30, | ​ | September 30, |
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 | ​
in thousands | ​ | (in thousands) | ​ | (in thousands) | ​
Stock-based compensation | ​ | $ | 347 | ​ | $ | 1,021 | ​ | $ | 2,981 | ​ | $ | 3,231 | ​
Other long-term incentive plan compensation | ​ |  | 165 | ​ |  | 260 | ​ |  | 640 | ​ |  | 930 | ​
Total compensation | ​ | $ | 512 | ​ | $ | 1,281 | ​ | $ | 3,621 | ​ | $ | 4,161 | ​
​

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