SEC Form 4 · accession 0001213900-17-009090
Borqs Technologies, Inc. · BRQS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Anthony K Chan
Officer — CFO, EVP Corp. Finance
Period of report
Aug 18, 2017
Accepted (ET)
Aug 22, 2017 · 4:55 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001650575
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1 | Aug 18, 2017 | A | 11,724 | — | A | 11,724 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2 | $7.18 | Aug 18, 2017 | A | 188,937 | A | — | Feb 11, 2027 | Ordinary Shares | 188,937 | 188,937 | D |
Explanation of responses
- F1Received in exchange for 150,000 ordinary shares of Borqs International Holding Corp. ("Borqs") in connection with the merger of Borqs into Pacific Special Acquisition Corp. (the "Merger").
- F2Received in the Merger in exchange for a stock option to acquire 2,000,000 ordinary shares of Borqs. 43.75% of the options vested on February 12, 2017, and the remaining 56.25% of the options vests in equal increments monthly over 27 months beginning January 1, 2017.