SEC Form 4 · accession 0001213900-17-009092
Borqs Technologies, Inc. · BRQS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Pat Chan
Officer — Chair. of the Board, CEO & Pre · Director
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 | 687,361 | — | A | 687,361 | 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 | $2.23 | Aug 18, 2017 | A | 47,234 | A | — | Oct 24, 2019 | Ordinary Shares | 47,234 | 47,234 | D |
| Stock Option (Right to Buy)F3 | $2.92 | Aug 18, 2017 | A | 30,060 | A | — | Jul 23, 2021 | Ordinary Shares | 30,060 | 30,060 | D |
| Stock Option (Right to Buy)F4 | $2.92 | Aug 18, 2017 | A | 1,719 | A | — | May 26, 2022 | Ordinary Shares | 1,719 | 1,719 | D |
| Stock Option (Right to Buy)F5 | $4.86 | Aug 18, 2017 | A | 3,211 | A | — | Apr 26, 2023 | Ordinary Shares | 3,211 | 3,211 | D |
| Stock Option (Right to Buy)F6 | $4.86 | Aug 18, 2017 | A | 1,983 | A | — | May 29, 2025 | Ordinary Shares | 1,983 | 1,983 | D |
| Stock Option (Right to Buy)F7 | $7.18 | Aug 18, 2017 | A | 283,406 | A | — | Feb 11, 2027 | Ordinary Shares | 283,406 | 283,406 | D |
Explanation of responses
- F1Received in exchange for 8,793,914 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 500,000 ordinary shares of Borqs. The options are fully vested.
- F3Received in the Merger in exchange for a stock option to acquire 318,200 ordinary shares of Borqs. The options are fully vested.
- F4Received in the Merger in exchange for a stock option to acquire 18,200 ordinary shares of Borqs. The options are fully vested.
- F5Received in the Merger in exchange for a stock option to acquire 34,000 ordinary shares of Borqs. The options are fully vested.
- F6Received in the Merger in exchange for a stock option to acquire 21,000 ordinary shares of Borqs. The options became vested as to 1/4 of the total grant on May 30, 2016, and an additional 1/48 of the total grant vests each month thereafter.
- F7Received in the Merger in exchange for a stock option to acquire 3,000,000 ordinary shares of Borqs. Two-thirds of options vested on February 12, 2017, and the remaining 1/3 of the options vests in equal increments monthly over 48 months beginning January 1, 2017.