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  4. [Form 4] Sea Ltd Insider Trading Activity

Sea (NYSE: SE) CCO’s 10b5-1 share sale trims indirect holdings

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

Rhea-AI Filing Summary

Sea Ltd chief corporate officer and general counsel Wang Yanjun, through a BVI entity he controls, reported open-market sales of a total of 1,600 Class A ordinary shares over June 2–3, 2026. The trades were executed at prices ranging from about $88.58 to $95.26 per share under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, he continues to hold 1,212,442 Class A shares directly and 5,200 Class A shares indirectly via the BVI entity, indicating these sales represent a small portion of his overall position.

Positive

  • None.

Negative

  • None.

Insights

Small, pre-planned insider sale with large holdings retained.

Sea Ltd officer Wang Yanjun oversaw the sale of 1,600 Class A shares via a BVI entity at prices in the high $80s to mid $90s per share. All trades were coded as open-market sales.

A footnote states the sales were made under a pre-arranged Rule 10b5-1 trading plan adopted by the controlled BVI entity. Such plans are typically set up in advance, so the timing of these sales carries limited informational value about management’s short-term views.

Post-transaction, Wang still holds 1,212,442 Class A shares directly plus 5,200 shares indirectly, so the net reduction is very small relative to his visible stake. This pattern is consistent with routine portfolio diversification rather than a major change in exposure.

Insider Wang Yanjun
Role CCO and GC
Sold 1,600 shs ($147K)
Type Security Shares Price Value
Sale Class A ordinary shares 378 $88.68 $34K
Sale Class A ordinary shares 48 $90.37 $4K
Sale Class A ordinary shares 48 $91.29 $4K
Sale Class A ordinary shares 86 $91.95 $8K
Sale Class A ordinary shares 240 $92.82 $22K
Sale Class A ordinary shares 398 $93.12 $37K
Sale Class A ordinary shares 377 $94.12 $35K
Sale Class A ordinary shares 25 $95.17 $2K
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 5,200 shares (Indirect, By BVI entity); Class A ordinary shares — 1,212,442 shares (Direct)
Footnotes (8)
  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 $92.72 to $93.71.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 $93.73 to $94.66.
  4. F4. Represents the weighted average price of shares sold at prices that ranged from $94.83 to $95.26.
  5. F5. Represents the weighted average price of shares sold at prices that ranged from $88.58 to $89.35.
  6. F6. Represents the weighted average price of shares sold at prices that ranged from $91.20 to $91.37.
  7. F7. Represents the weighted average price of shares sold at prices that ranged from $91.60 to $92.35.
  8. F8. Represents the weighted average price of shares sold at prices that ranged from $92.63 to $93.15.
Shares sold 1,600 shares Total Class A ordinary shares sold in open-market trades
Sale price range $88.58–$95.26 per share Weighted average price ranges from footnote disclosures
Direct holdings after transaction 1,212,442 shares Class A ordinary shares held directly as of June 2, 2026
Indirect holdings after transaction 5,200 shares Class A ordinary shares held indirectly via BVI entity after sales
Number of sale transactions 8 transactions Open-market sale entries reported across June 2–3, 2026
Rule 10b5-1 trading plan financial
"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..."
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.

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

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transaction did Sea Ltd (SE) report for Wang Yanjun?
Sea Ltd reported that officer Wang Yanjun, via a controlled BVI entity, sold 1,600 Class A ordinary shares in open-market trades. The sales occurred on June 2–3, 2026 at prices mostly in the high $80s to mid $90s per share.

At what prices were the Sea Ltd (SE) shares sold in this Form 4?
The 1,600 Class A shares were sold at weighted average prices within ranges from about $88.58 to $95.26 per share. Footnotes note specific bands, such as $92.72–$93.71 and $93.73–$94.66, with detailed breakdowns available on request.

Was the Sea Ltd (SE) insider sale made under a Rule 10b5-1 plan?
Yes. A footnote states the shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Wang Yanjun on September 4, 2025. Such plans pre-schedule trades to reduce discretion over timing.

How many Sea Ltd (SE) shares does Wang Yanjun hold after these sales?
After the reported sales, Wang Yanjun holds 1,212,442 Class A ordinary shares directly and 5,200 Class A ordinary shares indirectly through the BVI entity. This indicates the 1,600 shares sold represent a small fraction of his total holdings.

What role does Wang Yanjun hold at Sea Ltd (SE)?
In this filing, Wang Yanjun is identified as an officer of Sea Ltd, serving as chief corporate officer and general counsel. The reported transactions relate to his beneficial holdings in the company’s Class A ordinary shares.
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)
06/02/2026		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 shares06/02/2026S398(1)D$93.12(2)6,402IBy BVI entity
Class A ordinary shares06/02/2026S377(1)D$94.12(3)6,025IBy BVI entity
Class A ordinary shares06/02/2026S25(1)D$95.17(4)6,000IBy BVI entity
Class A ordinary shares06/03/2026S378(1)D$88.68(5)5,622IBy BVI entity
Class A ordinary shares06/03/2026S48(1)D$90.375,574IBy BVI entity
Class A ordinary shares06/03/2026S48(1)D$91.29(6)5,526IBy BVI entity
Class A ordinary shares06/03/2026S86(1)D$91.95(7)5,440IBy BVI entity
Class A ordinary shares06/03/2026S240(1)D$92.82(8)5,200IBy BVI entity
Class A ordinary shares1,212,442D
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 $92.72 to $93.71.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 $93.73 to $94.66.
4. Represents the weighted average price of shares sold at prices that ranged from $94.83 to $95.26.
5. Represents the weighted average price of shares sold at prices that ranged from $88.58 to $89.35.
6. Represents the weighted average price of shares sold at prices that ranged from $91.20 to $91.37.
7. Represents the weighted average price of shares sold at prices that ranged from $91.60 to $92.35.
8. Represents the weighted average price of shares sold at prices that ranged from $92.63 to $93.15.
/s/ Emily Tan, attorney-in-fact for Yanjun Wang06/04/2026
** 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