[144] Sea Limited American SEC Filing

Q: What is being sold in the Form 144 for Sea Limited (SE)?

The filing notifies a proposed sale of 300,000 ADRs of Sea Limited.

Q: Who is the broker and where will the SE ADRs be sold?

The broker is J.P. Morgan Securities LLC and the sale is planned on the NYSE with an approximate date of 09/02/2025 .

Q: What is the aggregate market value of the ADRs to be sold?

The filing states an aggregate market value of $55,962,000 for the 300,000 ADRs.

Q: How and when were the securities being sold originally acquired?

The 300,000 ADRs were acquired on 03/08/2017 by exercise of share options under the issuer's ESOP and paid as compensation for service rendered.

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

Yes; the filing lists multiple ADR sales by Perennial Spring Limited between 06/03/2025 and 07/30/2025, mostly in 2,000-ADR lots with stated gross proceeds for each sale.

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Form 144 filed for Sea Limited (symbol SE) reports a proposed sale of 300,000 ADRs through J.P. Morgan Securities LLC. The filing lists an aggregate market value of $55,962,000 for the 300,000 ADRs and reports the issuer's total ADRs outstanding as 543,584,213. The securities were acquired on 03/08/2017 by exercise of share options under the issuer's ESOP and were paid as compensation for service rendered. The filing names the approximate planned sale date as 09/02/2025 on the NYSE. The form also discloses multiple smaller ADR sales by Perennial Spring Limited during the past three months, mostly in 2,000-ADR lots on various dates between 06/03/2025 and 07/30/2025, with individual gross proceeds shown for each sale.

Positive

Clear provenance: securities were acquired by exercise of ESOP options on 03/08/2017, and the form documents compensation-for-service payment.
Broker and venue disclosed: proposed sales to be handled by J.P. Morgan Securities LLC on the NYSE with an approximate sale date of 09/02/2025.

Negative

Concentration of proposed sale: a single notice covers a sizable block of 300,000 ADRs representing a material market value of $55,962,000.
Frequent recent disposals: numerous small ADR sales by Perennial Spring Limited over the past three months are listed, indicating ongoing liquidation activity by that holder.

Insights

TL;DR The filing notifies a notable insider-related block sale of 300,000 ADRs through a broker with detailed prior small disposals.

The filing documents a proposed sale of 300,000 ADRs with an aggregate market value of $55,962,000, to be executed via J.P. Morgan Securities on the NYSE with an approximate sale date of 09/02/2025. The shares were acquired by exercise of employee share options on 03/08/2017 and recorded as compensation for services. The form also lists many smaller sales by Perennial Spring Limited over the prior three months, typically in 2,000-ADR increments, each with stated gross proceeds. This is a standard Rule 144 notice providing market and provenance details required for public resale; it does not contain operational or financial performance data.

TL;DR The filing is a routine Rule 144 disclosure showing an insider-related sale plan and prior dispositions by an affiliated holder.

The document confirms the securities to be sold were obtained through an ESOP exercise and that the filer affirms no undisclosed material adverse information. Multiple small sales by Perennial Spring Limited are itemized with dates and gross proceeds, indicating recent liquidity activity by a related holder. The filing includes the broker's name and the planned execution venue, satisfying disclosure requirements under Rule 144; it contains no governance changes or allegations.

09/02/2025 - 07:43 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

ADR

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

300000

55962000

543584213

09/02/2025

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 *

ADR

03/08/2017

Exercise of share options under Issuers ESOP

Issuer

300000

03/08/2017

Compensation for Service Rendered

* 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