SEC FORM 4

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^*

Ramanna Hareesh

(Last)

(First)

(Middle)

TWR A BLD B23 UNIV BUS PK NO. 10

JIUXIANGQIAO RD CHAOYANG DIST

(Street)

BEIJING

100015

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Borqs Technologies, Inc. [ BRQS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP & Co-GM of Prod. Bus. Unit

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)

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)
Ordinary Shares	08/18/2017		A		39,081	A	⁽¹⁾	39,081	D

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)
Stock Option (Right to Buy)	$2.23	08/18/2017		A		9,446		⁽²⁾	10/24/2019	Ordinary Shares	9,446	⁽²⁾	9,446	D
Stock Option (Right to Buy)	$2.23	08/18/2017		A		9,446		⁽²⁾	10/15/2020	Ordinary Shares	9,446	⁽²⁾	9,446	D
Stock Option (Right to Buy)	$2.92	08/18/2017		A		12,677		⁽³⁾	07/23/2021	Ordinary Shares	12,677	⁽³⁾	12,677	D
Stock Option (Right to Buy)	$4.86	08/18/2017		A		1,039		⁽⁴⁾	08/03/2022	Ordinary Shares	1,039	⁽⁴⁾	1,039	D
Stock Option (Right to Buy)	$4.86	08/18/2017		A		2,031		⁽⁵⁾	04/26/2023	Ordinary Shares	2,031	⁽⁵⁾	2,031	D
Stock Option (Right to Buy)	$4.86	08/18/2017		A		1,039		⁽⁴⁾	08/10/2023	Ordinary Shares	1,039	⁽⁴⁾	1,039	D
Stock Option (Right to Buy)	$4.86	08/18/2017		A		1,983		⁽⁶⁾	08/15/2024	Ordinary Shares	1,983	⁽⁵⁾	1,983	D
Stock Option (Right to Buy)	$4.86	08/18/2017		A		33,064		⁽⁷⁾	02/06/2025	Ordinary Shares	33,064	⁽⁶⁾	33,064	D
Stock Option (Right to Buy)	$4.86	08/18/2017		A		1,719		⁽⁸⁾	05/29/2025	Ordinary Shares	1,719	⁽⁷⁾	1,719	D
Stock Option (Right to Buy)	$7.18	08/18/2017		A		141,703		⁽⁹⁾	02/11/2027	Ordinary Shares	141,703	⁽⁸⁾	141,703	D

Explanation of Responses:

1. Received in exchange for 500,000 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 100,000 ordinary shares of Borqs. The options are fully vested.

3. Received in the Merger in exchange for a stock option to acquire 134,200 ordinary shares of Borqs. The options are fully vested.

4. Received in the Merger in exchange for a stock option to acquire 11,000 ordinary shares of Borqs. The options are fully vested.

5. Received in the Merger in exchange for a stock option to acquire 21,500 ordinary shares of Borqs. The options are fully vested.

6. Received 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 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 350,000 ordinary shares of Borqs. The options became vested as to 1/4 of the total grant on February 7, 2016, and an additional 1/48 of the total grant vests each month thereafter.

8. Received in the Merger in exchange for a stock option to acquire 18,200 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.

9. Received in the Merger in exchange for a stock option to acquire 1,500,000 ordinary shares of Borqs. 46.67% of the options vested on February 12, 2017, and the remaining 53.33% of the options vests in equal increments monthly over 48 months beginning January 1, 2017.

	/s/ Bob Li, Attorney-in-Fact for Hareesh Ramanna	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).
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