Sea (NYSE: SE) CCO logs 1,600-share 10b5-1 sale via BVI entity

Rhea-AI Filing Summary

Sea Ltd chief corporate officer and general counsel Wang Yanjun, through a BVI entity, reported open-market sales of 1,600 Class A ordinary shares on May 26–27, 2026, at prices between about $88 and $94 per share under a Rule 10b5-1 trading plan. After these trades, the BVI entity held 9,893 Class A shares indirectly, while Wang also held 1,212,442 Class A shares directly as of May 26, 2026, indicating these sales represent a small portion of his overall reported holdings.

Insights

Insider trading analyst

Routine, pre-planned insider net sale of 1,600 Sea Ltd shares.

Wang Yanjun, CCO and GC of Sea Ltd, reported open-market sales totaling 1,600 Class A ordinary shares at prices around $88–$94 on May 26–27, 2026. The trades were executed by a BVI entity that he controls, reflecting indirect ownership.

The filing shows these transactions occurred pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025, meaning the sales were pre-scheduled rather than opportunistic. Such plans are commonly used to diversify or manage liquidity on an automated basis.

Following the sales, indirect holdings via the BVI entity were 9,893 Class A shares, while direct holdings were 1,212,442 Class A shares as of May 26, 2026. Given the relatively small number of shares sold compared with total reported holdings and the pre-planned nature, this filing appears consistent with routine portfolio management rather than a thesis-changing event.

Insider Trade Summary 10b5-1

Net Seller: 1,600 shares

Net Sell 10 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($145K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	107	$89.43	$10K
Sale	Class A ordinary shares	83	$90.14	$7K
Sale	Class A ordinary shares	67	$91.55	$6K
Sale	Class A ordinary shares	122	$92.29	$11K
Sale	Class A ordinary shares	291	$93.33	$27K
Sale	Class A ordinary shares	130	$94.10	$12K
Sale	Class A ordinary shares	60	$88.07	$5K
Sale	Class A ordinary shares	369	$89.12	$33K
Sale	Class A ordinary shares	371	$90.00	$33K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 9,200 shares (Indirect, By BVI entity); Class A ordinary shares — 1,212,442 shares (Direct)

Footnotes (10)

1. F1. The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person on September 4, 2025.
2. F2. Represents the weighted average price of shares sold at prices that ranged from $87.60 to $88.55. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.
3. F3. Represents the weighted average price of shares sold at prices that ranged from $88.60 to $89.59.
4. F4. Represents the weighted average price of shares sold at prices that ranged from $89.60 to $90.58.
5. F5. Represents the weighted average price of shares sold at prices that ranged from $88.86 to $89.78.
6. F6. Represents the weighted average price of shares sold at prices that ranged from $89.87 to $90.78.
7. F7. Represents the weighted average price of shares sold at prices that ranged from $90.87 to $91.85.
8. F8. Represents the weighted average price of shares sold at prices that ranged from $91.86 to $92.86.
9. F9. Represents the weighted average price of shares sold at prices that ranged from $92.88 to $93.83.
10. F10. Represents the weighted average price of shares sold at prices that ranged from $93.86 to $94.32.

Key Figures

Shares sold: 1,600 shares Sale price range: $87.60–$94.32 Highest individual sale price: $94.10/share +4 more

7 metrics

Shares sold 1,600 shares Total Class A ordinary shares sold on May 26–27, 2026

Sale price range $87.60–$94.32 Weighted-average sale price ranges from footnotes F2–F10

Highest individual sale price $94.10/share Open-market sale price for 130 shares on May 27, 2026

Lowest individual sale price $88.07/share Open-market sale price for 60 shares on May 26, 2026

Indirect holdings after trades 9,893 shares Class A ordinary shares held by BVI entity after May 27, 2026

Direct holdings as of May 26, 2026 1,212,442 shares Directly held Class A ordinary shares in holding entry

Net buy/sell direction Net sale of 1,600 shares transactionSummary netBuySellShares and netBuySellDirection

Key Terms

Rule 10b5-1 trading plan, Class A ordinary shares, weighted average price, open-market sale, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity..."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Class A ordinary shares financial

"security_title: Class A ordinary shares"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

weighted average price financial

"Represents the weighted average price of shares sold at prices that ranged from $87.60 to $88.55."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"direct_or_indirect: I, ownership_type: indirect, nature_of_ownership: By BVI entity"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/28/2026 - 06:03 AM Learn about SEC filing dates

FAQ

How many Sea Ltd (SE) shares did Wang Yanjun sell in this Form 4?

Wang Yanjun reported selling a total of 1,600 Class A ordinary shares of Sea Ltd in open-market transactions. These sales occurred through a BVI entity over May 26–27, 2026, at individual trade prices generally ranging between about $88 and $94 per share.

At what prices were the Sea Ltd (SE) shares sold by the BVI entity?

The reported Sea Ltd Class A share sales were executed at prices around $88–$94 per share. Footnotes explain several trades used weighted average prices, with underlying sale ranges from $87.60 up to $94.32, and full price breakdowns are available upon request.

Were the Sea Ltd (SE) insider sales made under a Rule 10b5-1 plan?

Yes. The filing states the shares were sold under a Rule 10b5-1 trading plan adopted on September 4, 2025 by a BVI entity controlled by Wang Yanjun. Such pre-arranged plans automate trades and reduce the significance of transaction timing.

How many Sea Ltd (SE) shares does Wang Yanjun hold after these transactions?

After the reported trades, indirect holdings via the BVI entity were 9,893 Class A ordinary shares. Separately, a holding entry shows Wang held 1,212,442 Class A ordinary shares directly as of May 26, 2026, giving a substantial overall reported equity position.

Is this Sea Ltd (SE) Form 4 mainly direct or indirect share ownership?

The sales disclosed in this Form 4 involve indirect ownership, executed by a BVI entity controlled by Wang Yanjun. The filing also lists a large block of 1,212,442 Class A ordinary shares held directly, providing context for the scale of the indirect trades.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wang Yanjun

(Last) (First) (Middle)

C/O 1 FUSIONOPOLIS PLACE,

#17-10, GALAXIS

(Street)

SINGAPORE SINGAPORE 138522

(City) (State) (Zip)

SINGAPORE

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CCO and GC

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/26/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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)
			Code	V	Amount	(A) or (D)	Price
Class A ordinary shares	05/26/2026		S		60(1)	D	$88.07(2)	10,740	I	By BVI entity
Class A ordinary shares	05/26/2026		S		369(1)	D	$89.12(3)	10,371	I	By BVI entity
Class A ordinary shares	05/26/2026		S		371(1)	D	$90(4)	10,000	I	By BVI entity
Class A ordinary shares	05/27/2026		S		107(1)	D	$89.43(5)	9,893	I	By BVI entity
Class A ordinary shares	05/27/2026		S		83(1)	D	$90.14(6)	9,810	I	By BVI entity
Class A ordinary shares	05/27/2026		S		67(1)	D	$91.55(7)	9,743	I	By BVI entity
Class A ordinary shares	05/27/2026		S		122(1)	D	$92.29(8)	9,621	I	By BVI entity
Class A ordinary shares	05/27/2026		S		291(1)	D	$93.33(9)	9,330	I	By BVI entity
Class A ordinary shares	05/27/2026		S		130(1)	D	$94.1(10)	9,200	I	By BVI entity
Class A ordinary shares								1,212,442	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person on September 4, 2025.

2. Represents the weighted average price of shares sold at prices that ranged from $87.60 to $88.55. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

3. Represents the weighted average price of shares sold at prices that ranged from $88.60 to $89.59.

4. Represents the weighted average price of shares sold at prices that ranged from $89.60 to $90.58.

5. Represents the weighted average price of shares sold at prices that ranged from $88.86 to $89.78.

6. Represents the weighted average price of shares sold at prices that ranged from $89.87 to $90.78.

7. Represents the weighted average price of shares sold at prices that ranged from $90.87 to $91.85.

8. Represents the weighted average price of shares sold at prices that ranged from $91.86 to $92.86.

9. Represents the weighted average price of shares sold at prices that ranged from $92.88 to $93.83.

10. Represents the weighted average price of shares sold at prices that ranged from $93.86 to $94.32.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	05/28/2026
	** 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 4 (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 4: SEC 1474 (03-26)