<SEC-DOCUMENT>0001104659-25-123104.txt : 20251219
<SEC-HEADER>0001104659-25-123104.hdr.sgml : 20251219
<ACCEPTANCE-DATETIME>20251219160406
ACCESSION NUMBER:		0001104659-25-123104
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251217
FILED AS OF DATE:		20251219
DATE AS OF CHANGE:		20251219

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CAISSE DES DEPOTS ET CONSIGNATIONS
		CENTRAL INDEX KEY:			0001056947
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36697
		FILM NUMBER:		251587471

	BUSINESS ADDRESS:	
		STREET 1:		56 RUE DE LILLE
		CITY:			PARIS
		STATE:			I0
		ZIP:			75007
		BUSINESS PHONE:		8033140498417

	MAIL ADDRESS:	
		STREET 1:		56 RUE DE LILLE
		CITY:			PARIS
		STATE:			I0
		ZIP:			75007

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bpifrance Participations SA
		CENTRAL INDEX KEY:			0001581835
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			I0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36697
		FILM NUMBER:		251587474

	BUSINESS ADDRESS:	
		STREET 1:		27-31 AVENUE DU GENERAL LECLERC
		CITY:			MAISONS ALFORT, CEDEX
		STATE:			I0
		ZIP:			94710
		BUSINESS PHONE:		33153898789

	MAIL ADDRESS:	
		STREET 1:		27-31 AVENUE DU GENERAL LECLERC
		CITY:			MAISONS ALFORT, CEDEX
		STATE:			I0
		ZIP:			94710

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bpifrance Investissement S.A.S.
		CENTRAL INDEX KEY:			0002065260
		ORGANIZATION NAME:           	
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36697
		FILM NUMBER:		251587472

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		27-31, AVENUE DU GENERAL LECLERC
		CITY:			MAISON-ALFORT CEDEX
		PROVINCE COUNTRY:   	I0
		ZIP:			94710
		BUSINESS PHONE:		33 (0)6 37 85 94 06

	MAIL ADDRESS:	
		STREET 1:		C/O NIXON PEABODY LLP, EXCHANGE PLACE
		STREET 2:		53 STATE STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bpifrance SA
		CENTRAL INDEX KEY:			0001731118
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			I0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36697
		FILM NUMBER:		251587473

	BUSINESS ADDRESS:	
		STREET 1:		27-31 AVENUE DU GENERAL LECLERC
		CITY:			MAISONS ALFORT, CEDEX
		STATE:			I0
		ZIP:			94710
		BUSINESS PHONE:		33153898789

	MAIL ADDRESS:	
		STREET 1:		27-31 AVENUE DU GENERAL LECLERC
		CITY:			MAISONS ALFORT, CEDEX
		STATE:			I0
		ZIP:			94710

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EPIC Bpifrance
		CENTRAL INDEX KEY:			0001731121
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			I0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36697
		FILM NUMBER:		251587475

	BUSINESS ADDRESS:	
		STREET 1:		27-31 AVENUE DU GENERAL LECLERC
		CITY:			MAISONS ALFORT, CEDEX
		STATE:			I0
		ZIP:			94710
		BUSINESS PHONE:		33153898789

	MAIL ADDRESS:	
		STREET 1:		27-31 AVENUE DU GENERAL LECLERC
		CITY:			MAISONS ALFORT, CEDEX
		STATE:			I0
		ZIP:			94710

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DBV Technologies S.A.
		CENTRAL INDEX KEY:			0001613780
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			I0
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		107 AVENUE DE LA REPUBLIQUE
		CITY:			CHATILLON
		STATE:			I0
		ZIP:			92320
		BUSINESS PHONE:		33(0)155427878

	MAIL ADDRESS:	
		STREET 1:		107 AVENUE DE LA REPUBLIQUE
		CITY:			CHATILLON
		STATE:			I0
		ZIP:			92320
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm2533970-1_4seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-17</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001613780</issuerCik>
        <issuerName>DBV Technologies S.A.</issuerName>
        <issuerTradingSymbol>DBVT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001731121</rptOwnerCik>
            <rptOwnerName>EPIC Bpifrance</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6-8, BOULEVARD HAUSSMANN</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PARIS</rptOwnerCity>
            <rptOwnerState>I0</rptOwnerState>
            <rptOwnerZipCode>75009</rptOwnerZipCode>
            <rptOwnerStateDescription>FRANCE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001581835</rptOwnerCik>
            <rptOwnerName>Bpifrance Participations SA</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6-8, BOULEVARD HAUSSMANN</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PARIS</rptOwnerCity>
            <rptOwnerState>I0</rptOwnerState>
            <rptOwnerZipCode>75009</rptOwnerZipCode>
            <rptOwnerStateDescription>FRANCE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001731118</rptOwnerCik>
            <rptOwnerName>Bpifrance SA</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6-8, BOULEVARD HAUSSMANN</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PARIS</rptOwnerCity>
            <rptOwnerState>I0</rptOwnerState>
            <rptOwnerZipCode>75009</rptOwnerZipCode>
            <rptOwnerStateDescription>FRANCE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002065260</rptOwnerCik>
            <rptOwnerName>Bpifrance Investissement S.A.S.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6-8, BOULEVARD HAUSSMANN</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PARIS</rptOwnerCity>
            <rptOwnerState>I0</rptOwnerState>
            <rptOwnerZipCode>75009</rptOwnerZipCode>
            <rptOwnerStateDescription>FRANCE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001056947</rptOwnerCik>
            <rptOwnerName>CAISSE DES DEPOTS ET CONSIGNATIONS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O 56, RUE DE LILLE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PARIS</rptOwnerCity>
            <rptOwnerState>I0</rptOwnerState>
            <rptOwnerZipCode>75007</rptOwnerZipCode>
            <rptOwnerStateDescription>FRANCE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-17</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>2036990</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.84</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8635472</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Bpifrance Participations S.A.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-17</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>40000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5.28</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8595472</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Bpifrance Participations S.A.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-18</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>1292103</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>4.19</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7303369</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Bpifrance Participations S.A.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>226133</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Innobio FPCI</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The price reported in Column 4 is a weighted average price in US Dollars and reflects the conversion of EURO to USD at an exchange rate of $1.1741 to EURO 1.00 as of December 17, 2025. The shares were sold in multiple transactions at prices ranging from $4.24 to $5.23 per share, inclusive. The reporting person unterakes to provide DBV Technologies S.A., any security holder of DBV Technologies S.A., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the ranges set forth in footnotes 1 and 4 of this Form 4.</footnote>
        <footnote id="F2">Bpifrance Participations S.A. (&quot;Bpifrance Participations&quot;) directly owns the reported shares. Bpifrance Participations is a subsidiary owned at 99.99% by Bpifrance S.A. (&quot;Bpifrance&quot;). Bpifrance is jointly owned by Caisse des Depots et Consignations (&quot;CDC&quot;) at 49.2% and EPIC Bpifrance (&quot;EPIC&quot;) at 49.2%. CDC and EPIC jointly control Bpifrance.</footnote>
        <footnote id="F3">The price reported in Column 4 reflects the conversion of EURO to USD at an exchange rate of $1.1741 to EURO 1.00 as of December 17, 2025.</footnote>
        <footnote id="F4">The price reported in Column 4 is a weighted average price in US Dollars and reflects the conversion of EURO to USD at an exchange rate of $1.1727 to EURO 1.00 as of December 18, 2025 . The shares were sold in multiple transactions at prices ranging from $3.79 to $4.32 per share, inclusive.</footnote>
        <footnote id="F5">Innobio FPCI (&quot;Innobio&quot;) directly owns the reported shares. Innobio is a fund managed by Bpifrance Investissement S.A.S. (&quot;Bpifrance Investissement&quot;), a subsidiary owned at 100% by Bpifrance Participations.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Sophie Paquin, Director of Legal Affairs EPIC Bpifrance</signatureName>
        <signatureDate>2025-12-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Sophie Paquin, Director of Legal Affairs Bpifrance Participations</signatureName>
        <signatureDate>2025-12-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Sophie Paquin, Director of Legal Affairs, Bpifrance Investissement S.A.S.</signatureName>
        <signatureDate>2025-12-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Laurence Giraudon, Chief Operating Officer Finance and Operations Department, Asset Management Division, Caisse des Depots</signatureName>
        <signatureDate>2025-12-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Boubakar Dione, Group Director of Legal Affairs, Bpifrance S.A.</signatureName>
        <signatureDate>2025-12-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
