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 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol Borqs Technologies, Inc. [ BRQS ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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3. Date of Earliest Transaction (Month/Day/Year) 08/18/2017 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | ||||||
Ordinary Shares | 08/18/2017 | A | 335,626 | A | (1) | 335,626 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Stock Option (Right to Buy) | $2.23 | 08/18/2017 | A | 28,340 | (2) | 10/24/2019 | Ordinary Shares | 28,340 | (2) | 28,340 | D | ||||
Stock Option (Right to Buy) | $2.92 | 08/18/2017 | A | 30,239 | (3) | 07/23/2021 | Ordinary Shares | 30,239 | (3) | 30,239 | D | ||||
Stock Option (Right to Buy) | $2.92 | 08/18/2017 | A | 675 | (4) | 05/26/2022 | Ordinary Shares | 675 | (4) | 675 | D | ||||
Stock Option (Right to Buy) | $4.86 | 08/18/2017 | A | 1,818 | (5) | 04/26/2023 | Ordinary Shares | 1,818 | (5) | 1,818 | D | ||||
Stock Option (Right to Buy) | $4.86 | 08/18/2017 | A | 779 | (6) | 08/15/2024 | Ordinary Shares | 779 | (6) | 779 | D | ||||
Stock Option (Right to Buy) | $4.86 | 08/18/2017 | A | 779 | (7) | 05/29/2025 | Ordinary Shares | 779 | (7) | 779 | D |
Explanation of Responses: |
1. Received in exchange for 4,293,914 ordinary shares of Borqs International Holding Corp. ("Borqs") in connection with the merger of Borqs into Pacific Special Acquisition Corp. (the "Merger"). |
2. Received in the Merger in exchange for a stock option to acquire 300,000 ordinary shares of Borqs. The options became vested as to 1/4 of the total grant on October 24, 2010, and an additional 1/48 of the total grant vests each month thereafter. |
3. Received in the Merger in exchange for a stock option to acquire 320,100 ordinary shares of Borqs. The options became vested as to 1/4 of the total grant on July 23, 2012, and an additional 1/48 of the total grant vests each month thereafter. |
4. Received in the Merger in exchange for a stock option to acquire 7,150 ordinary shares of Borqs. The options became vested as to 1/4 of the total grant on May 26, 2013, and an additional 1/48 of the total grant vests each month thereafter. |
5. Received in the Merger in exchange for a stock option to acquire 19,250 ordinary shares of Borqs. The options became vested as to 1/4 of the total grant on April 27, 2014, and an additional 1/48 of the total grant vests each month thereafter. |
6. Received in the Merger in exchange for a stock option to acquire 8,250 ordinary shares of Borqs. The options became vested as to 1/4 of the total grant on May 24, 2015, and an additional 1/48 of the total grant vests each month thereafter. |
7. Received in the Merger in exchange for a stock option to acquire 8,250 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. |
/s/ Bob Li | 08/22/2017 | |
** 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. |