[144] Sea Limited American SEC Filing

Q: What does the Form 144 for Sea Limited (SE) disclose?

The Form 144 discloses a proposed sale of 1,920,000 ADS (aggregate market value $369,926,400 ) to be executed via J.P. Morgan on 09/10/2025 , plus prior ADS dispositions in June–August 2025.

Q: When were the ADS being sold originally acquired?

The ADS proposed for sale were acquired on 07/16/2021 through the exercise of share options under the issuer's ESOP and were paid as compensation for services .

Q: Which broker is handling the proposed sale of SE ADS?

The filing names J.P. Morgan Securities LLC as the broker, located at 390 Madison Avenue, New York, NY.

Q: Does the filing show recent sales by related parties?

Yes. The filing lists numerous prior sales by Alpha Ally Holdings Limited during June–August 2025, each reported as 10,000 ADS trades with stated gross proceeds.

Q: On which exchange is the proposed sale scheduled?

The proposed sale is scheduled on the NYSE with an approximate date of 09/10/2025 .

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Form 144 filed for Sea Limited (SE) ADS shows a proposed sale of 1,920,000 ADS through J.P. Morgan Securities with an aggregate market value of $369,926,400 and an approximate sale date of 09/10/2025 on the NYSE. The filing reports these ADS were acquired on 07/16/2021 by exercise of share options under the issuer's ESOP and were paid as compensation for services.

The filing also discloses numerous prior ADS dispositions by Alpha Ally Holdings Limited during June–August 2025 in blocks of 10,000 ADS on many trade dates, with individual gross proceeds shown for each trade.

Positive

None.

Negative

Proposed large sale of 1,920,000 ADS (aggregate market value $369,926,400) could add significant near-term supply into the market on 09/10/2025
Multiple recent dispositions by Alpha Ally Holdings Limited in June–August 2025, each of 10,000 ADS, indicate ongoing selling activity from related parties

Insights

TL;DR: Significant insider-related supply may increase available ADS into market on a single date.

This Form 144 notifies the market of a proposed sale of 1,920,000 ADS valued at about $369.9 million, to be executed via a broker on 09/10/2025. The securities were acquired through an ESOP exercise in 2021 and were compensation for services, indicating these are not open-market purchases. The filing also documents a series of systematic dispositions by Alpha Ally Holdings Limited in June–August 2025, each reported as 10,000 ADS trades with specific gross proceeds. For investors, the filing increases transparency about potential near-term supply but does not by itself disclose any nonpublic operational information.

TL;DR: Large planned sale stems from exercised ESOP awards; disclosure aligns with Rule 144 requirements.

The notice indicates the ADS to be sold were acquired via exercise of share options under the issuer's ESOP on 07/16/2021 and were classified as compensation. The filer certifies lack of undisclosed material information as required. The documented prior sales by an affiliated holder show ongoing disposition activity. From a governance perspective, the filing fulfills regulatory notice obligations but signals meaningful insider-linked share movement that stakeholders may monitor for timing and volume impact.

09/10/2025 - 04:35 PM

144: Filer Information

Filer CIK

Filer CCC

Is this a LIVE or TEST Filing?

LIVE TEST

Submission Contact Information

Name

Phone

E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold

Name and Address of the Broker

Number of Shares or Other Units To Be Sold

Aggregate Market Value

Number of Shares or Other Units Outstanding

Approximate Date of Sale

Name the Securities Exchange

ADS

J.P. Morgan Securities LLC
390 Madison Avenue - 6th Floor
New York NY 10017

1920000

369926400

543584213

09/10/2025

NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class

Date you Acquired

Nature of Acquisition Transaction

Name of Person from Whom Acquired

Is this a Gift?

Date Donor Acquired

Amount of Securities Acquired

Date of Payment

Nature of Payment *

ADS

07/16/2021

Exercise of share options under Issuer's ESOP

Issuer

1920000

07/16/2021

Compensation for services provided

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller

Title of Securities Sold

Date of Sale

Amount of Securities Sold

Gross Proceeds