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Sea Ltd (NYSE: SE) CCO-linked BVI entity sells 1,600 Class A shares

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Sea Ltd’s chief corporate officer and general counsel, Wang Yanjun, reported indirect open-market sales of 1,600 Class A ordinary shares through a BVI entity he controls. The trades on April 6–7, 2026 were executed at prices around $80.93–$83.51 per share pursuant to a Rule 10b5-1 trading plan adopted by that entity on September 4, 2025. Following these sales, indirect holdings shown for the BVI entity were 26,800 shares, and a separate entry reflected 1,222,842 shares held directly after the transactions.

Positive

  • None.

Negative

  • None.
Insider Wang Yanjun
Role CCO and GC
Sold 1,600 shs ($131K)
Type Security Shares Price Value
Sale Class A ordinary shares 664 $80.93 $54K
Sale Class A ordinary shares 136 $81.39 $11K
Sale Class A ordinary shares 662 $82.87 $55K
Sale Class A ordinary shares 138 $83.51 $12K
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 26,936 shares (Indirect, By BVI entity); Class A ordinary shares — 1,222,842 shares (Direct)
Footnotes (1)
  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. Represents the weighted average price of shares sold at prices that ranged from $82.31 to $83.305. 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. Represents the weighted average price of shares sold at prices that ranged from $83.31 to $84.00. Represents the weighted average price of shares sold at prices that ranged from $80.32 to $81.29. Represents the weighted average price of shares sold at prices that ranged from $81.32 to $81.56.
Shares sold 1,600 shares Net Class A ordinary shares sold in April 2026
Sale prices $80.93–$83.51 per share Weighted average prices for April 6–7, 2026 sales
Indirect holdings after sale 26,800 shares Class A ordinary shares held by BVI entity after trades
Direct holdings 1,222,842 shares Class A ordinary shares held directly as of April 6, 2026
Transactions reported as sales 4 transactions Open-market sales coded “S” in early April 2026
Net share direction -1,600 shares Net-sell direction in transaction summary
10b5-1 plan adoption date September 4, 2025 Date BVI entity’s Rule 10b5-1 plan was adopted
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" for each reported transaction"
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..."
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" for each sale transaction"
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" with nature_of_ownership: "By BVI entity""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
SINGAPORESINGAPORE138522
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
CCO and GC
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/06/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A ordinary shares04/06/2026S662(1)D$82.87(2)27,738IBy BVI entity
Class A ordinary shares04/06/2026S138(1)D$83.51(3)27,600IBy BVI entity
Class A ordinary shares04/07/2026S664(1)D$80.93(4)26,936IBy BVI entity
Class A ordinary shares04/07/2026S136(1)D$81.39(5)26,800IBy BVI entity
Class A ordinary shares1,222,842D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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 $82.31 to $83.305. 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 $83.31 to $84.00.
4. Represents the weighted average price of shares sold at prices that ranged from $80.32 to $81.29.
5. Represents the weighted average price of shares sold at prices that ranged from $81.32 to $81.56.
/s/ Emily Tan, attorney-in-fact for Yanjun Wang04/08/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Sea Ltd (SE) report for Wang Yanjun?

Sea Ltd reported that a BVI entity controlled by CCO and GC Wang Yanjun sold 1,600 Class A ordinary shares in open-market transactions. These trades were disclosed on Form 4 and involved indirect ownership rather than his directly held shares.

At what prices were the Sea Ltd (SE) shares sold in this Form 4?

The reported sales were executed at weighted average prices around $80.93, $81.39, $82.87, and $83.51 per share. Footnotes note price ranges around each average and offer to provide detailed trade breakdowns upon request to regulators or security holders.

Were the Sea Ltd (SE) insider sales 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 the reporting person. Such plans pre-establish trading instructions, making sales more routine than discretionary.

How many Sea Ltd (SE) shares does the BVI entity hold after the sales?

After the reported transactions, the Form 4 shows the BVI entity with 26,800 Class A ordinary shares held indirectly. This figure reflects the position following the net sale of 1,600 shares disclosed in the filing during early April 2026.

What direct holdings does Wang Yanjun show in Sea Ltd (SE) after these trades?

The Form 4 includes a separate holding line showing 1,222,842 Class A ordinary shares held directly after the April 6, 2026 date. This entry is not tied to a new transaction code and reflects an existing direct ownership position.

Does this Sea Ltd (SE) Form 4 involve any stock options or derivatives?

No derivative securities are listed in the derivative section of this Form 4. The transaction summary shows no option exercises or conversions, indicating the reported activity relates solely to non-derivative Class A ordinary share sales and updated share holdings.