<PAGE>
- ---------- --------------------
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*
Laidley Forrest David
________________________________________________
(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)
Secretary
- -----------------------------------------------------------------
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)
491,520
- -----------------------------------------------------------------
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)
<PAGE>
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. Option to Purchase
F. Option to Purchase
G. Option to Purchase
H. Option to Purchase
I. Option to Purchase
J. Option to Purchase
- -----------------------------------------------------------------
2. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
---------------- ---------------
A. * 04/21/08
B. Fully vested 01/31/07
C. Fully vested 04/15/06
D. Fully vested 02/01/05
E. Fully vested 02/01/04
F. Fully vested 02/01/03
G. Fully vested 02/01/02
H. Fully vested 02/01/01
I. Fully vested 02/01/00
J. Fully vested 10/31/00
- -----------------------------------------------------------------
3. Title and Amount of Securities Underlying Derivative
Security (Instr. 4)
Title Amount or Number of Shares
----- --------------------------
A. Common Stock 8,000
B. Common Stock 10,000
C. Common Stock 10,000
D. Common Stock 10,000
E. Common Stock 5,000
F. Common Stock 5,000
G. Common Stock 10,000
H. Common Stock 20,000
I. Common Stock 30,000
J. Common Stock 5,883
- -----------------------------------------------------------------
4. Conversion or Exercise Price of Derivative Security
A. $5.5625
B. $4.375
C. $4.25
D. $0.20
E. $0.25
F. $0.20
G. $0.1875
H. $0.1875
I. $0.1875
J. $6.00
- -----------------------------------------------------------------
5. Ownership Form of Derivative Security: Direct(D) or Indirect
(I) (Instr. 5)
A. (D)
B. (D)
C. (D)
D. (D)
E. (D)
F. (D)
G. (D)
H. (D)
I. (D)
J. (D)
- -----------------------------------------------------------------
6. Nature of Indirect Beneficial Ownership (Instr. 5)
N/A
=================================================================
Explanation of Responses:
* Option vests 25% on date of grant and 25% on each subsequent
anniversary of the date of grant.
=================================================================
/s/ Forrest D. Laidley 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)
