Insider Daniel Asher boosts Sequans (SQNS) stake via LLC share buys

Rhea-AI Filing Summary

Sequans Communications’ 10% owner Daniel Asher, through affiliated entities, reported additional indirect purchases of the company’s common stock. On January 20, 2026, DBA Trading, LLC, beneficially owned and controlled by Asher, bought 19,660 shares at $5.2941 per share. On January 21, 2026, DBA Trading, LLC purchased another 22,600 shares at $5.2403 per share.

After these transactions, DBA Trading, LLC held 1,895,678 Sequans shares indirectly for Asher. Separately, AFOB FIP MS, LLC, whose managing member is AFO Blackberry, LLC and over which Asher is deemed to control voting and dispositive power, held an additional 513,443 shares of Sequans common stock indirectly for him.

Insider Trade Summary

Net Buyer: 42,260 shares ($222,513)

Net Buy 3 txns

Insider ASHER DANIEL

Role 10% Owner

Bought 42,260 shs ($223K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	22,600	$5.2403	$118K
Purchase	Common Stock	19,660	$5.2941	$104K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,895,678 shares (Indirect, by DBA Trading, LLC)

Footnotes (1)

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

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ASHER DANIEL

(Last) (First) (Middle)

1011 LAKE ST

SUITE 311

(Street)

OAK PARK IL 60301

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/20/2026		P		19,660	A	$5.2941	1,873,078	I	by DBA Trading, LLC(1)
Common Stock	01/21/2026		P		22,600	A	$5.2403	1,895,678	I	by DBA Trading, LLC(1)
Common Stock								513,443	I	By AFOB FIP MS, LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or 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)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		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)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	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 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 them.

	Daniel Asher	01/22/2026
	** 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 4 (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.