Was the SQNS insider transaction an open-market buy or a share grant?

The SQNS transaction was a share grant, not an open-market buy. Bertrand Debray received 2,420,000 Ordinary Shares at a price of zero, recorded as a compensation-related grant of restricted free shares rather than a market purchase.

Does SEQUANS COMMUNICATIONS receive cash from this insider share grant?

SEQUANS COMMUNICATIONS does not receive cash from this grant because the shares were awarded at a transaction price of zero. The filing characterizes the event as a grant or award acquisition, typical of equity-based executive compensation programs.

SQNS chief of staff granted 2.42M shares

SEQUANS COMMUNICATIONS Chief of Staff Bertrand Debray reported an equity compensation grant.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

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Form Type

Rhea-AI Filing Summary

SEQUANS COMMUNICATIONS Chief of Staff Bertrand Debray reported an equity compensation grant. He acquired 2,420,000 Ordinary Shares on a grant basis at $0.00 per share, classified as restricted free shares subject to vesting. Following this award, his direct holdings total 3,207,518 Ordinary Shares, including 3,207,500 shares that are still subject to vesting conditions. This reflects a compensation-related share award rather than an open-market purchase.

Insider Trade Summary

Grant/Award: 2,420,000 shares

Grant/Award 1 txn

Insider Debray Bertrand

Role Chief of Staff

Type	Security	Shares	Price	Value
Grant/Award	Ordinary Shares	2,420,000	$0.00	$0.00

Holdings After Transaction: Ordinary Shares — 3,207,518 shares (Direct)

Footnotes (2)

F1. Grant of restricted free shares; all subject to vesting.
F2. Includes 3,207,500 shares subject to vesting

Key Figures

Shares granted: 2,420,000 Ordinary Shares Grant price: $0.00 per share Shares after transaction: 3,207,518 Ordinary Shares +1 more

4 metrics

Shares granted 2,420,000 Ordinary Shares Grant of restricted free shares on 2026-04-28

Grant price $0.00 per share Compensation award, not open-market purchase

Shares after transaction 3,207,518 Ordinary Shares Direct holdings following grant

Unvested shares 3,207,500 shares Portion of holdings subject to vesting

Key Terms

restricted free shares, vesting, grant, award, or other acquisition, Ordinary Shares

4 terms

restricted free shares financial

"Grant of restricted free shares; all subject to vesting."

vesting financial

"Grant of restricted free shares; all subject to vesting."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Ordinary Shares financial

"security_title: Ordinary Shares"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

FAQ

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

What insider transaction did SEQUANS COMMUNICATIONS (SQNS) report for Bertrand Debray?

SEQUANS COMMUNICATIONS reported that Chief of Staff Bertrand Debray received a grant of 2,420,000 Ordinary Shares. The shares were awarded at no purchase price as restricted free shares, forming part of his equity compensation package and subject to future vesting.

How many SQNS shares does Bertrand Debray hold after this Form 4 transaction?

After the reported transaction, Bertrand Debray directly holds 3,207,518 Ordinary Shares of SEQUANS COMMUNICATIONS. Footnote disclosure states that 3,207,500 of these shares are subject to vesting, indicating most of his position is tied to unvested equity awards.

What are the vesting terms mentioned in the SQNS Form 4 footnotes?

The Form 4 notes that the 2,420,000 Ordinary Shares are a grant of restricted free shares, all subject to vesting. It also specifies that Debray’s position includes 3,207,500 shares subject to vesting, meaning future vesting conditions must be met before full ownership.

What transaction code appears on the SQNS Form 4 for Bertrand Debray?

The SQNS Form 4 uses transaction code “A” for Bertrand Debray’s activity. This code indicates a grant, award, or other acquisition of securities, aligning with the description that the 2,420,000 Ordinary Shares were issued as restricted free shares subject to vesting.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/11/2026 - 11:46 AM

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^*

Debray Bertrand

(Last)

(First)

(Middle)

15-55 BOULEVARD CHARLES DE GAULLE

(Street)

COLOMBES

92700

(City)

(State)

(Zip)

FRANCE

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares	04/28/2026	05/11/2026	A		2,420,000⁽¹⁾	A	$0	3,207,518⁽²⁾	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Grant of restricted free shares; all subject to vesting.

2. Includes 3,207,500 shares subject to vesting

Remarks:

	/s/Deborah A. Choate, Attorney-in-Fact for Bertrand Debray	05/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR