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- ---------- -------------------- FORM 3 OMB APPROVAL - ---------- -------------------- OMB Number:3235-0104 Expires: September 30, 1998 Estimated average burden hours per response.........0.5 -------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 (Print or Type Responses) - ----------------------------------------------------------------- 1. Name and Address of Reporting Person* HOUTHOOFT MARIO R. ________________________________________________ (Last) (First) (Middle) 1901 SOUTH MEYERS ROAD, SUITE 210 ________________________________________________ (Street) OAKBROOK TERRACE IL 60181 ________________________________________________ (City) (State) (Zip) - ----------------------------------------------------------------- 2. Date of Event Requiring Statement (Month/Day/Year) JUNE 4, 1998 - ----------------------------------------------------------------- 3. I.R.S. Identification Number of Reporting Person, is an entity (voluntary) N/A - ----------------------------------------------------------------- 4. Issuer Name and Ticker or Trading Symbol VASCO DATA SECURITY INTERNATIONAL, INC. (VDSI) - ----------------------------------------------------------------- 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _X_ Director ___ 10% Owner _X_ Officer (give title ___ Other (specify below) below) Managing Director, VASCO Data Security NV/SA - ----------------------------------------------------------------- 6. If Amendment, Date of Original (Month/Day/Year) - ----------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person ================================================================= TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED ================================================================= 1. Title of Security (Instr.4) COMMON STOCK, $.001 PAR VALUE - ----------------------------------------------------------------- 2. Amount of Securities Beneficially Owned (Inst.4) 214,287 - ----------------------------------------------------------------- 3. Ownership Form: Direct (D) or Indirect (I) (Instr.5) Direct - ----------------------------------------------------------------- 4. Nature of Indirect Beneficial Ownership (Instr. 5) N/A - ----------------------------------------------------------------- Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 5(b)(v). (Over) SEC 1473 (7-97) FORM 3 (continued) ================================================================= TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) ================================================================= 1. Title of Derivative Security (Instr. 4) A. Option to Purchase B. Option to Purchase C. Option to Purchase D. Option to Purchase E. Warrant to Purchase - ----------------------------------------------------------------- 2. Date Exercisable and Expiration Date (Month/Day/Year) Date Exercisable Expiration Date ---------------- --------------- A. * 04/21/08 B. Fully vested 06/16/07 C. Fully vested 01/31/07 D. Fully vested 06/30/06 E. Fully vested 12/31/01 - ----------------------------------------------------------------- 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) Title Amount or Number of Shares ----- -------------------------- A. Common Stock 30,000 B. Common Stock 45,000 C. Common Stock 50,000 D. Common Stock 50,000 E. Common Stock 162,500 - ----------------------------------------------------------------- 4. Conversion or Exercise Price of Derivative Security A. $5.5625 B. $4.00 C. $4.375 D. $6.00 E. $7.00 - ----------------------------------------------------------------- 5. Ownership Form of Derivative Security: Direct(D) or Indirect (I) (Instr. 5) A. (D) B. (D) C. (D) D. (D) E. (D) - ----------------------------------------------------------------- 6. Nature of Indirect Beneficial Ownership (Instr. 5) N/A ================================================================= Explanation of Responses: * Option vests 20% per year commencing with the first anniversary of the date of grant. ================================================================= /s/ MARIO R. HOUTHOOFT June 3, 1998 _______________________________ _______________ **Signature of Reporting Person Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure. Page 2 SEC 1473 (7-97)