Sequans (SQNS) major holder boosts stake with January 2026 share buys

Q: Who actually holds the SQNS shares reported for Daniel Asher?

The purchased Sequans shares are held indirectly by DBA Trading, LLC , which the filing states is beneficially owned by Daniel Asher , who is deemed to control voting and dispositive power over those shares.

Q: How many Sequans (SQNS) shares did DBA Trading, LLC own after the reported trades?

After the January 14, 2026 transaction, DBA Trading, LLC beneficially owned 1,813,587 shares of Sequans common stock attributed indirectly to Daniel Asher.

Q: What additional SQNS holdings are reported through AFOB FIP MS, LLC?

The filing shows 513,444 shares of Sequans common stock indirectly held by AFOB FIP MS, LLC . AFO Blackberry, LLC is its managing member, and Daniel Asher is deemed to control voting and dispositive power over these shares.

Q: What is Daniel Asher’s relationship to Sequans Communications in this filing?

Daniel Asher is identified as a more than 10% owner of Sequans Communications, with indirect beneficial ownership of shares held through DBA Trading, LLC and AFOB FIP MS, LLC .

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Sequans Communications reported insider share purchases by an affiliated entity of major shareholder Daniel Asher. On January 13, 2026, DBA Trading, LLC bought 57,809 shares of Sequans common stock at $5.5097 per share. On January 14, 2026, DBA Trading, LLC acquired an additional 15,100 shares at $5.6856 per share. Following these trades, DBA Trading, LLC held 1,813,587 shares of Sequans common stock indirectly attributed to Asher, who is a more than 10% owner. The filing also shows 513,444 shares of common stock indirectly held through AFOB FIP MS, LLC, an entity whose voting and dispositive power is likewise deemed controlled by Asher.

Insider Trade Summary

Net Buyer: 72,909 shares ($404,363)

Net Buy 3 txns

Insider ASHER DANIEL

Role 10% Owner

Bought 72,909 shs ($404K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	15,100	$5.6856	$86K
Purchase	Common Stock	57,809	$5.5097	$319K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,813,587 shares (Indirect, By DBA Trading, LLC)

Footnotes (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. 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.

Form 4 Insider Transactions: What Each Field Means →

01/15/2026 - 04:31 PM

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

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)
01/13/2026

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)
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)
Common Stock	01/13/2026		P		57,809	A	$5.5097	1,789,487	I	By DBA Trading, LLC⁽¹⁾
Common Stock	01/14/2026		P		15,100	A	$5.6856	1,813,587	I	By DBA Trading, LLC⁽¹⁾
Common Stock								513,444	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)
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. 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 them.

	Daniel Asher	01/15/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did SQNS report for Daniel Asher on this Form 4?

The Form 4 reports that an entity affiliated with Daniel Asher, DBA Trading, LLC, purchased 57,809 Sequans common shares on January 13, 2026 at $5.5097 per share and 15,100 shares on January 14, 2026 at $5.6856 per share.

Who actually holds the SQNS shares reported for Daniel Asher?

The purchased Sequans shares are held indirectly by DBA Trading, LLC, which the filing states is beneficially owned by Daniel Asher, who is deemed to control voting and dispositive power over those shares.

How many Sequans (SQNS) shares did DBA Trading, LLC own after the reported trades?

After the January 14, 2026 transaction, DBA Trading, LLC beneficially owned 1,813,587 shares of Sequans common stock attributed indirectly to Daniel Asher.

What additional SQNS holdings are reported through AFOB FIP MS, LLC?

The filing shows 513,444 shares of Sequans common stock indirectly held by AFOB FIP MS, LLC. AFO Blackberry, LLC is its managing member, and Daniel Asher is deemed to control voting and dispositive power over these shares.

What is Daniel Asher’s relationship to Sequans Communications in this filing?

Daniel Asher is identified as a more than 10% owner of Sequans Communications, with indirect beneficial ownership of shares held through DBA Trading, LLC and AFOB FIP MS, LLC.

Are there any derivative securities reported for SQNS in this Form 4?

The Form 4 includes a table for derivative securities, but in this filing no specific derivative transactions or derivative holdings are listed with quantities or prices.