Were Ye Gang’s associated Sea (SE) share sales made under a 10b5-1 plan?

Yes. A footnote states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025, by a BVI entity controlled by Ye Gang. Such plans pre-schedule trades, making the timing more routine and less discretionary.

Sea (NYSE: SE) COO’s BVI entity sells 20,000 shares in plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd director and COO Ye Gang reported indirect open-market sales of Class A ordinary shares executed by a BVI entity he controls. The BVI entity sold a total of 20,000 shares on April 30 and May 1, 2026, at prices ranging from about $83.01 to $86.57 per share under a Rule 10b5-1 trading plan.

After these transactions, the BVI entity held 200,000 shares indirectly, while a separate entry shows Ye Gang holding 22,396,405 Class A ordinary shares directly as of April 30, 2026, so the reported sales represent a small portion of his overall position.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($1,702,938)

Net Sell 6 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.70M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	9,983	$86.14	$860K
Sale	Class A ordinary shares	17	$86.57	$1K
Sale	Class A ordinary shares	3,102	$83.01	$257K
Sale	Class A ordinary shares	2,893	$84.22	$244K
Sale	Class A ordinary shares	4,005	$84.99	$340K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 200,017 shares (Indirect, By BVI entity); Class A ordinary shares — 22,396,405 shares (Direct, null)

Footnotes (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 $82.52 to $83.51. 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 $83.52 to $84.51. Represents the weighted average price of shares sold at prices that ranged from $84.52 to $85.45. Represents the weighted average price of shares sold at prices that ranged from $85.54 to $86.54.

Key Figures

Shares sold: 20,000 shares Sale price (high): $86.57 per share Sale price (low): $83.01 per share +3 more

6 metrics

Shares sold 20,000 shares Total Class A ordinary shares sold April 30–May 1, 2026

Sale price (high) $86.57 per share Class A shares sold on May 1, 2026

Sale price (low) $83.01 per share Class A shares sold on April 30, 2026

Indirect holdings 200,000 shares Class A ordinary shares held by BVI entity after sales

Direct holdings 22,396,405 shares Class A ordinary shares held directly by Ye Gang as of April 30, 2026

Net share change -20,000 shares Net sell reported in transaction summary

Key Terms

Rule 10b5-1 trading plan, Class A ordinary shares, BVI entity, weighted average price, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"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.

BVI entity financial

"a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person"

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.

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 06:01 AM

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).

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^*

Ye Gang

(Last)

(First)

(Middle)

C/O 1 FUSIONOPOLIS PLACE,

#17-10, GALAXIS

(Street)

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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A ordinary shares	04/30/2026		S		3,102⁽¹⁾	D	$83.01⁽²⁾	216,898	I	By BVI entity
Class A ordinary shares	04/30/2026		S		2,893⁽¹⁾	D	$84.22⁽³⁾	214,005	I	By BVI entity
Class A ordinary shares	04/30/2026		S		4,005⁽¹⁾	D	$84.99⁽⁴⁾	210,000	I	By BVI entity
Class A ordinary shares	05/01/2026		S		9,983⁽¹⁾	D	$86.14⁽⁵⁾	200,017	I	By BVI entity
Class A ordinary shares	05/01/2026		S		17⁽¹⁾	D	$86.57	200,000	I	By BVI entity
Class A ordinary shares								22,396,405	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 $82.52 to $83.51. 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 $83.52 to $84.51.

4. Represents the weighted average price of shares sold at prices that ranged from $84.52 to $85.45.

5. Represents the weighted average price of shares sold at prices that ranged from $85.54 to $86.54.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	05/04/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Sea (SE) report for Ye Gang?

Sea reported that a BVI entity controlled by COO and director Ye Gang sold 20,000 Class A ordinary shares in open-market transactions. The sales occurred on April 30 and May 1, 2026, and were executed under a Rule 10b5-1 trading plan.

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

The BVI entity’s open-market sales of Sea Class A ordinary shares were executed at prices ranging from about $83.01 to $86.57 per share. Several tranches used weighted average prices within narrower ranges disclosed in the accompanying footnotes.

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

After the reported transactions, the Form 4 shows the BVI entity holding 200,000 Sea Class A ordinary shares indirectly. This reflects the position remaining following the series of open-market sales disclosed for April 30 and May 1, 2026.

How many Sea (SE) shares does Ye Gang hold directly after these transactions?

A holding entry dated April 30, 2026, shows Ye Gang directly holding 22,396,405 Sea Class A ordinary shares. This direct position is separate from the 200,000 shares held indirectly through the BVI entity that executed the reported sales.