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- ---------- -------------------- FORM 4 OMB APPROVAL - ---------- -------------------- / / Check this box if no OMB Number:3235-0362 longer subject to Section Expires: September 16. Form 4 or Form 5 obligation 30, 1998 may continue. See Instruction 1(b). Estimated average burden hours per response.........1.0 -------------------- U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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* HUNT T.KENDALL ________________________________________________ (Last) (First) (Middle) 1901 SOUTH MEYERS ROAD, SUITE 210 ________________________________________________ (Street) OAKBROOK TERRACE ILLINOIS 60181 ________________________________________________ (City) (State) (Zip) - ----------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol VASCO DATA SECURITY INTERNATIONAL, INC. (VDSI) - ----------------------------------------------------------------- 3. I.R.S. or Social Security Number of Reporting Person, (Voluntary) - ----------------------------------------------------------------- 4. Statement for Month/Year September 1998 - ----------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Year) - ----------------------------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) _X_ Director _X_ 10% Owner _X_ Officer (give title ___ Other (specify below) below) Chairman, President and Chief Executive Officer - ----------------------------------------------------------------- 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 ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED ================================================================= 1. Title of Security (Instr.3) A. Common Stock, par value $.001 per share - ----------------------------------------------------------------- 2. Transaction Date (Month/Day/Year) A. September 4, 1998 - ----------------------------------------------------------------- 3. Transaction Code (Instr.8) Code V ---- ---- A. P - ----------------------------------------------------------------- 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) Amount (A) or (D) Price ------ ---------- ----- A. 500 A $4.25 3,000 A $4.375 2,000 A $4.3125 4,500 A $4.625 - ----------------------------------------------------------------- 5. Amount of Securities Beneficially Owned at End of Month (Instr. 3 and 4) A. 10,216,225 - ----------------------------------------------------------------- 6. Ownership Form: Direct (D) or Indirect (I) (Instr.4) A. Direct - ----------------------------------------------------------------- 7. Nature of Beneficial Ownership (Instr. 4) A. Direct - ----------------------------------------------------------------- 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 4(b)(v). (Over) SEC 1474 (7-97) FORM 4 (continued) ================================================================= TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) ================================================================= 1. Title of Derivative Security (Instr. 3) - ----------------------------------------------------------------- 2. Conversion or Exercise Price of Derivative Security - ----------------------------------------------------------------- 3. Transaction Date (Month/Day/Year) - ----------------------------------------------------------------- 4. Transaction Code (Instr. 8) Code V ---- - - ----------------------------------------------------------------- 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) - ----------------------------------------------------------------- 6. Date Exercisable and Expiration Date (Month/Day/Year) Date Exercisable Expiration Date ---------------- --------------- - ----------------------------------------------------------------- 7. Title and Amount of Securities Underlying Securities (Instr. 3 and 4) Title Amount or Number of Shares ----- -------------------------- - ----------------------------------------------------------------- 8. Price of Derivative Security (Instr. 5) - ----------------------------------------------------------------- 9. Number of Derivative Securities Beneficially Owned at End of Month (Instr. 4) - ----------------------------------------------------------------- 10. Ownership Form of Derivative Security: Direct(D) or Indirect (I) (Instr. 4) - ----------------------------------------------------------------- 11. Nature of Indirect Beneficial Ownership (Instr. 4) ================================================================= Explanation of Responses: ================================================================= /s/ T. KENDALL HUNT September 08, 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 provided is insufficient, see Instruction 6 for procedure. Page 2 SEC 1474 (7-97)