Sequans Communications insider reports major indirect share holdings

Sequans Communications insider Daniel Asher filed an initial statement of beneficial ownership as a 10% owner.

Rhea-AI Filing Summary

Sequans Communications insider Daniel Asher filed an initial statement of beneficial ownership as a 10% owner. The filing shows that entities associated with him indirectly hold shares of the company’s common stock. DBA Trading, LLC holds 1,171,503 shares, and AFOB FIP MS, LLC holds 513,443 shares, with Asher deemed to control voting and dispositive power through these entities. No derivative securities are listed, so all reported holdings are in common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider ASHER DANIEL

Role 10% Owner

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,171,503 shares (Indirect, by DBA Trading); Common Stock — 513,443 shares (Indirect, By AFOB FIP MS, LLC)

Footnotes (2)

1. F1. Daniel Asher is the beneficial owner of DBA Trading, LLC and is deemed to control share voting and dispositive power over the shares held by them.
2. F2. AFO Blackberry, LLC is the managing member of AFOB FIP MS, LLC and Daniel Asher is deemed to control share voting and dispositive power over the shares held by AFO Blackberry, LLC

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider position does Daniel Asher hold in SEQUANS COMMUNICATIONS (SQNS)?

Daniel Asher is reported as a 10% owner of SEQUANS COMMUNICATIONS, meaning entities associated with him beneficially own at least ten percent of the company’s common stock.

How many SEQUANS COMMUNICATIONS (SQNS) shares are held by DBA Trading, LLC?

DBA Trading, LLC is reported as indirectly holding 1,171,503 shares of SEQUANS COMMUNICATIONS common stock, with Daniel Asher deemed to control voting and dispositive power over those shares.

How many SEQUANS COMMUNICATIONS (SQNS) shares are held by AFOB FIP MS, LLC?

AFOB FIP MS, LLC is reported as indirectly holding 513,443 shares of SEQUANS COMMUNICATIONS common stock, through AFO Blackberry, LLC as its managing member, with Daniel Asher deemed to control voting and dispositive power.

Are Daniel Asher’s SEQUANS COMMUNICATIONS (SQNS) holdings direct or indirect?

The holdings are reported as indirect. Shares are held by entities including DBA Trading, LLC and AFOB FIP MS, LLC, over which Daniel Asher is deemed to control voting and dispositive power.

Does this SEQUANS COMMUNICATIONS (SQNS) filing report any derivative securities?

No derivative securities are reported. The filing’s Table I lists only common stock beneficially owned, and Table II for derivative securities shows no entries.

Does this SEQUANS COMMUNICATIONS (SQNS) insider filing show purchases or sales?

The document is an initial statement of beneficial ownership listing common stock holdings by related entities. It presents the number of shares beneficially owned rather than detailing specific purchase or sale transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/09/2026 - 02:52 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

ASHER DANIEL

(Last) (First) (Middle)

111 W JACKSON BLVD

20TH FL

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/31/2025

3. Issuer Name and Ticker or Trading Symbol
SEQUANS COMMUNICATIONS [ SQNS ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. 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)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,171,503	I	by DBA Trading(1)
Common Stock	513,443	I	By AFOB FIP MS, LLC(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Daniel Asher is the beneficial owner of DBA Trading, LLC and is deemed to control share voting and dispositive power over the shares held by them.

2. AFO Blackberry, LLC is the managing member of AFOB FIP MS, LLC and Daniel Asher is deemed to control share voting and dispositive power over the shares held by AFO Blackberry, LLC

	Daniel Asher	01/09/2026
	** Signature of Reporting Person	Date
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).
** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.