Sea Ltd (NYSE: SE) CEO details Class A, Class B and option stakes

Rhea-AI Filing Summary

Sea Ltd Chairman and CEO Li Xiaodong filed an initial statement of beneficial ownership, listing his equity interests in the company. The filing shows indirect holdings of Class B ordinary shares that are convertible into 45,527,793 Class A ordinary shares at an exercise price of $0.0000 per share, held through a BVI entity, and these Class B shares do not expire.

He also holds share options giving the right to buy Class A ordinary shares, including 5,470,000 shares at $15.0000 per share expiring on April 30, 2029 and 5,000,000 shares at $15.0000 expiring on April 30, 2030, which were granted in 2019 and 2020 and are fully exercisable. Additional options cover 5,000,000 Class A ordinary shares at $120.0000 per share expiring on April 17, 2032, granted in 2022 and scheduled to be fully exercisable on April 30, 2027. The filing also reports direct ownership of 2,103 Class A ordinary shares and indirect ownership of 893,593 Class A ordinary shares through a BVI entity.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Li Xiaodong

Role Chairman and CEO

Type	Security	Shares	Price	Value
holding	Class B ordinary shares	--	--	--
holding	Share options (right to buy)	--	--	--
holding	Share options (right to buy)	--	--	--
holding	Share options (right to buy)	--	--	--
holding	Class A ordinary shares	--	--	--
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class B ordinary shares — 45,527,793 shares (Indirect, By BVI entity); Share options (right to buy) — 5,470,000 shares (Direct); Class A ordinary shares — 2,103 shares (Direct); Class A ordinary shares — 893,593 shares (Indirect, By BVI entity)

Footnotes (1)

1. Each Class B ordinary share is convertible into one Class A ordinary share at the option of the holder. Class B ordinary shares do not expire. The share options were granted on April 30, 2019 and are fully exercisable. The share options were granted on April 30, 2020 and are fully exercisable. The share options were granted on April 17, 2022 and will be fully exercisable on April 30, 2027.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Li Xiaodong

(Last) (First) (Middle)

C/O 1 FUSIONOPOLIS PLACE,

#17-10, GALAXIS

(Street)

SINGAPORE 138522

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Sea Ltd [ SE ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares	2,103	D
Class A ordinary shares	893,593	I	By BVI entity

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B ordinary shares	(1)	(1)	Class A ordinary shares	45,527,793	(1)	I	By BVI entity
Share options (right to buy)	(2)	04/30/2029	Class A ordinary shares	5,470,000	$15	D
Share options (right to buy)	(3)	04/30/2030	Class A ordinary shares	5,000,000	$15	D
Share options (right to buy)	(4)	04/17/2032	Class A ordinary shares	5,000,000	$120	D

Explanation of Responses:

1. Each Class B ordinary share is convertible into one Class A ordinary share at the option of the holder. Class B ordinary shares do not expire.

2. The share options were granted on April 30, 2019 and are fully exercisable.

3. The share options were granted on April 30, 2020 and are fully exercisable.

4. The share options were granted on April 17, 2022 and will be fully exercisable on April 30, 2027.

Remarks:

This Report includes only the securities that the Reporting Person may be deemed to beneficially own in accordance with Rule 16a-1. This report does not include Class A ordinary shares over which the Reporting Person has no pecuniary interest but has voting power due to irrevocable voting proxies from the respective owners of such shares (including certain directors and employees of the Issuer, certain affiliates of employees of the Issuer, and Garena ESOP Program (PTC) Limited).

	/s/ Mark Tang, attorney-in-fact for Xiaodong Li	03/18/2026
	** 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 5 (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.
* Form 3: SEC 1473 (03-26)

FAQ

What does Sea Ltd (SE) Chairman Li Xiaodong report in this Form 3?

Li Xiaodong reports his initial beneficial ownership in Sea Ltd, including large indirect Class B holdings and multiple share option grants. The filing outlines how many Class A shares these positions represent and the key exercise prices and expiration timelines attached to his options.

How many Sea Ltd Class B shares does Li Xiaodong beneficially own?

He reports indirect holdings of Class B ordinary shares convertible into 45,527,793 Class A ordinary shares. These Class B shares are held through a BVI entity, carry an exercise price of $0.0000 per share, and do not expire, providing substantial long-term equity exposure.

What share options in Sea Ltd Class A does Li Xiaodong hold?

He holds options over 5,470,000 Class A shares at $15.0000 expiring April 30, 2029 and 5,000,000 at $15.0000 expiring April 30, 2030. Both grants are fully exercisable. He also holds 5,000,000 options at $120.0000 expiring April 17, 2032 with full exercisability in April 2027.

Are Li Xiaodong’s Sea Ltd share options currently exercisable?

Options granted on April 30, 2019 and April 30, 2020 are fully exercisable according to the filing footnotes. Options granted on April 17, 2022 will become fully exercisable on April 30, 2027, providing a staged timeline for potential share acquisition.

What direct Class A share ownership does Li Xiaodong have in Sea Ltd?

He reports direct ownership of 2,103 Class A ordinary shares in his own name. In addition, he has indirect ownership of 893,593 Class A ordinary shares through a BVI entity, alongside significant Class B and option positions tied to Class A shares.

Do Sea Ltd Class B shares held by Li Xiaodong expire or convert?

Each Class B ordinary share is convertible into one Class A ordinary share at the holder’s option and does not expire. This structure allows Li Xiaodong, through a BVI entity, to convert 45,527,793 Class B shares into the same number of Class A shares if desired.