Sequans (SQNS) 10% owner-linked entity adds 21,900 shares at $4.91

Rhea-AI Filing Summary

Sequans Communications insider-related entities reported updated share holdings. On 01/07/2026, an entity associated with 10% owner Daniel Asher, DBA Trading, LLC, purchased 21,900 shares of Sequans common stock at $4.9093 per share in an open-market transaction. After this trade, DBA Trading, LLC held 1,193,403 shares, reported as indirectly owned by Asher.

The filing also notes that 513,444 shares of Sequans common stock are indirectly owned through AFOB FIP MS, LLC. Footnotes explain that Asher is deemed to control voting and dispositive power over the shares held by DBA Trading, LLC and, through AFO Blackberry, LLC as managing member, over the shares held by AFOF FIP MS, LLC.

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)
01/07/2026

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	01/07/2026		P		21,900	A	$4.9093	1,193,403	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)
				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 is deemed to control share voting and dispositive power over the shares held by them.

2. AFO Blackberry, LLC is the managing member of AFOF 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 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.

FAQ

What insider-related transaction was reported for SEQUANS COMMUNICATIONS (SQNS)?

The report shows that on 01/07/2026, DBA Trading, LLC, an entity associated with 10% owner Daniel Asher, purchased 21,900 shares of Sequans common stock.

At what price were the 21,900 SQNS shares purchased by DBA Trading, LLC?

The 21,900 shares of Sequans common stock were bought at a price of $4.9093 per share.

How many SQNS shares does DBA Trading, LLC hold after the reported transaction?

Following the transaction on 01/07/2026, DBA Trading, LLC is reported to indirectly hold 1,193,403 shares of Sequans common stock.

What is Daniel Asher’s relationship to DBA Trading, LLC in this SQNS Form 4?

A footnote states that Daniel Asher is the beneficial owner of DBA Trading, LLC and is deemed to control voting and dispositive power over the shares held by that entity.

How many SQNS shares are reported as held through AFOB FIP MS, LLC?

The filing reports that 513,444 shares of Sequans common stock are indirectly owned through AFOB FIP MS, LLC.

What does the footnote say about AFO Blackberry, LLC and AFOF FIP MS, LLC in relation to SQNS shares?

The footnote explains that AFO Blackberry, LLC is the managing member of AFOF FIP MS, LLC, and that Daniel Asher is deemed to control voting and dispositive power over the shares held by AFO Blackberry, LLC.

Is Daniel Asher a 10% owner of SEQUANS COMMUNICATIONS (SQNS)?

Yes. The report identifies Daniel Asher as a 10% Owner of Sequans Communications and shows indirect ownership through DBA Trading, LLC and AFOB FIP MS, LLC.