SQNS CEO discloses holdings in initial Form 3

SEQUANS COMMUNICATIONS CEO Georges M. Karam filed an initial Form 3 reporting his ownership in the company.

Rhea-AI Filing Summary

SEQUANS COMMUNICATIONS CEO Georges M. Karam filed an initial Form 3 reporting his ownership in the company. He reports direct holdings of American Depositary Shares representing 12,949,300 underlying ordinary shares, along with 5,472,772 ordinary shares. A footnote states that these holdings include 5,465,056 shares subject to vesting, highlighting that a significant portion is tied to equity awards rather than fully vested stock. The filing does not show any new purchases or sales, only the CEO’s existing positions.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Karam Georges M.

Role CEO

Type	Security	Shares	Price	Value
holding	American Depositary Share	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: American Depositary Share — 12,949,300 contracts (Direct); Ordinary Shares — 5,472,772 shares (Direct)

Footnotes (3)

1. F1. Includes 5,465,056 subject to vesting
2. F2. Each American Depositary Share represents 100 ordinary shares
3. F3. American Depositary Shares do not have an exercise date, exercise price nor expiration date

FAQ

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

What does the SQNS Form 3 filed by CEO Georges M. Karam show?

The Form 3 shows CEO Georges M. Karam’s existing ownership in SEQUANS COMMUNICATIONS, including American Depositary Shares and ordinary shares. It is an initial disclosure of holdings, not a record of new share purchases or sales.

How many ordinary shares does the SQNS CEO report owning on the Form 3?

Georges M. Karam reports direct ownership of 5,472,772 ordinary shares. The filing notes that these holdings include 5,465,056 shares subject to vesting, indicating most ordinary shares are linked to equity incentive arrangements rather than fully vested stock.

What is the relationship between SEQUANS ADS and ordinary shares in this Form 3?

The Form 3 states that each American Depositary Share represents 100 ordinary shares. It reports ADS positions corresponding to 12,949,300 underlying ordinary shares, clarifying the scale of the CEO’s exposure through depositary receipts tied to ordinary equity.

Does the SQNS Form 3 for Georges M. Karam disclose any insider buying or selling?

The Form 3 does not report any insider buying or selling transactions. It only lists existing holdings in American Depositary Shares and ordinary shares, serving as an initial statement of beneficial ownership for regulatory and transparency purposes.

Are SEQUANS American Depositary Shares shown with an exercise price or expiration date?

The Form 3 explains that American Depositary Shares have no exercise date, exercise price, or expiration date. They function as depositary receipts representing underlying ordinary shares, rather than options or warrants with a strike price and maturity.

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

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Accepted by SEC EDGAR 03/18/2026 - 06:32 AM 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^*

Karam Georges M.

(Last) (First) (Middle)

15-55 BOULEVARD CHARLES DE GAULLE

(Street)

COLOMBES 92700

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

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

3a. Foreign Trading Symbol

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

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

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

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)
Ordinary Shares	5,472,772(1)	D

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
American Depositary Share(2)	(3)	(3)	Ordinary Shares	12,949,300	(3)	D

Explanation of Responses:

1. Includes 5,465,056 subject to vesting

2. Each American Depositary Share represents 100 ordinary shares

3. American Depositary Shares do not have an exercise date, exercise price nor expiration date

Remarks:

	/s/Deborah A. Choate, Attorney-in-Fact for Georges M. Karam	03/18/2026
	** 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.
* Form 3: SEC 1473 (03-26)