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BVI entity of Sea (NYSE: SE) CPO Chen Jingye sells 1,600 shares under 10b5-1 plan

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

Rhea-AI Filing Summary

Sea Ltd executive-related entity reports small pre-planned share sales. A BVI entity controlled by Chen Jingye, CPO of Shopee, sold a total of 1,600 Sea Class A ordinary shares in open-market transactions on April 20 and 21, 2026, at prices between $87.69 and $89.98 per share. These transactions were made under a Rule 10b5-1 trading plan adopted by the BVI entity on August 28, 2025. After these sales, the entity held 221,600 shares indirectly, while Chen also had a separate direct holding of 9,075,774 Class A ordinary shares, indicating that the sales represent a small portion of the overall position.

Positive

  • None.

Negative

  • None.
Insider Chen Jingye
Role CPO, Shopee
Sold 1,600 shs ($142K)
Type Security Shares Price Value
Sale Class A ordinary shares 299 $87.69 $26K
Sale Class A ordinary shares 360 $88.59 $32K
Sale Class A ordinary shares 141 $89.38 $13K
Sale Class A ordinary shares 576 $89.39 $51K
Sale Class A ordinary shares 224 $89.98 $20K
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 222,101 shares (Indirect, By BVI entity); Class A ordinary shares — 9,075,774 shares (Direct, null)
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 August 28, 2025. Represents the weighted average price of shares sold at prices that ranged from $88.69 to $89.68. 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 $89.70 to $90.68. Represents the weighted average price of shares sold at prices that ranged from $87.08 to $88.07. Represents the weighted average price of shares sold at prices that ranged from $88.08 to $89.07. Represents the weighted average price of shares sold at prices that ranged from $89.08 to $89.73.
Total shares sold 1,600 shares Open-market sales on April 20–21, 2026 by BVI entity
Sale price range $87.69–$89.98 per share Weighted-average prices referenced in trade footnotes
Indirect holdings after trades 221,600 shares Class A ordinary shares held indirectly by BVI entity
Direct holdings entry 9,075,774 shares Class A ordinary shares held directly as of April 20, 2026
Largest single trade 576 shares at $89.39 Non-derivative open-market sale on April 20, 2026
Latest reported trade 141 shares at $89.38 Non-derivative open-market sale on April 21, 2026
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.
open-market sale financial
"transaction_action: open-market sale for each non-derivative 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.
Class A ordinary shares financial
"security_title: Class A ordinary shares for all reported entries"
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.
indirect ownership financial
"ownership_type: indirect with nature_of_ownership: By BVI entity"
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.
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*
Chen Jingye
(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)
CPO, Shopee
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/20/2026		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 shares04/20/2026S576(1)D$89.39(2)222,624IBy BVI entity
Class A ordinary shares04/20/2026S224(1)D$89.98(3)222,400IBy BVI entity
Class A ordinary shares04/21/2026S299(1)D$87.69(4)222,101IBy BVI entity
Class A ordinary shares04/21/2026S360(1)D$88.59(5)221,741IBy BVI entity
Class A ordinary shares04/21/2026S141(1)D$89.38(6)221,600IBy BVI entity
Class A ordinary shares9,075,774D
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 August 28, 2025.
2. Represents the weighted average price of shares sold at prices that ranged from $88.69 to $89.68. 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 $89.70 to $90.68.
4. Represents the weighted average price of shares sold at prices that ranged from $87.08 to $88.07.
5. Represents the weighted average price of shares sold at prices that ranged from $88.08 to $89.07.
6. Represents the weighted average price of shares sold at prices that ranged from $89.08 to $89.73.
/s/ Mark Tang, attorney-in-fact for Jingye Chen04/22/2026
** 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 Chen Jingye?

Sea Ltd reported that a BVI entity controlled by CPO Chen Jingye sold 1,600 Class A ordinary shares in open-market transactions. The sales occurred on April 20 and 21, 2026, and were executed under a pre-arranged Rule 10b5-1 trading plan.

How many Sea Ltd (SE) shares were sold and at what prices?

The controlled BVI entity sold 1,600 Sea Ltd Class A ordinary shares. Reported weighted-average sale prices ranged from $87.69 to $89.98 per share, with specific transactions disclosed at $89.98, $89.39, $89.38, $88.59, and $87.69.

Were the Sea Ltd (SE) insider sales by Chen Jingye pre-planned?

Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Chen Jingye on August 28, 2025. Such plans schedule trades in advance, making the timing more routine rather than discretionary.

How many Sea Ltd (SE) shares does Chen Jingye hold after these transactions?

After the reported transactions, the BVI entity controlled by Chen Jingye held 221,600 Class A ordinary shares indirectly. A separate entry shows Chen with 9,075,774 Class A ordinary shares held directly, indicating a large remaining ownership stake in Sea Ltd.

Were the Sea Ltd (SE) insider sales direct or through an entity?

The sales were reported as indirect, executed by a BVI entity described as controlled by the reporting person. The Form 4 notes the ownership type as indirect, with the nature of ownership specified as "By BVI entity" for the sold shares.

What does the Rule 10b5-1 note mean in the Sea Ltd (SE) filing?

The filing explains that the trades were made under a Rule 10b5-1 trading plan adopted by the BVI entity. This rule allows insiders to preset trading instructions, so future share sales occur automatically according to the plan’s terms rather than day-to-day market decisions.