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  4. [Form 4] Sea Ltd Insider Trading Activity

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

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 on May 4–5, 2026 at prices in the mid‑$80 range, executed under a pre‑arranged Rule 10b5-1 trading plan.

Following these sales, the BVI entity held 10,800 Class A ordinary shares indirectly, while Wang also held 1,222,842 Class A ordinary shares directly as of May 4, 2026.

Positive

  • None.

Negative

  • None.
Insider Wang Yanjun
Role CCO and GC
Sold 1,600 shs ($136K)
Type Security Shares Price Value
Sale Class A ordinary shares 368 $84.17 $31K
Sale Class A ordinary shares 338 $84.92 $29K
Sale Class A ordinary shares 94 $85.69 $8K
Sale Class A ordinary shares 223 $85.08 $19K
Sale Class A ordinary shares 527 $85.93 $45K
Sale Class A ordinary shares 50 $86.77 $4K
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 11,232 shares (Indirect, By BVI entity); Class A ordinary shares — 1,222,842 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 September 4, 2025. Represents the weighted average price of shares sold at prices that ranged from $84.49 to $85.47. 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 $85.49 to $86.46. Represents the weighted average price of shares sold at prices that ranged from $86.54 to $87.20. 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 $85.50. Represents the weighted average price of shares sold at prices that ranged from $85.54 to $86.00.
Shares sold 1,600 shares Total Class A ordinary shares sold on May 4–5, 2026
Sale price example $86.77/share One May 4, 2026 open-market sale price
Sale price example $85.69/share One May 5, 2026 open-market sale price
Indirect holdings after trades 10,800 shares Class A ordinary shares held by BVI entity after sales
Direct holdings 1,222,842 shares Class A ordinary shares held directly as of May 4, 2026
Net share direction 1,600 net shares sold Form 4 transaction summary net-sell
Sell transactions 6 transactions Number of non-derivative sale entries reported
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"
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 regulatory
"direct_or_indirect": "I", "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)
05/04/2026		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 shares05/04/2026S223(1)D$85.08(2)12,177IBy BVI entity
Class A ordinary shares05/04/2026S527(1)D$85.93(3)11,650IBy BVI entity
Class A ordinary shares05/04/2026S50(1)D$86.77(4)11,600IBy BVI entity
Class A ordinary shares05/05/2026S368(1)D$84.17(5)11,232IBy BVI entity
Class A ordinary shares05/05/2026S338(1)D$84.92(6)10,894IBy BVI entity
Class A ordinary shares05/05/2026S94(1)D$85.69(7)10,800IBy 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 $84.49 to $85.47. 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 $85.49 to $86.46.
4. Represents the weighted average price of shares sold at prices that ranged from $86.54 to $87.20.
5. Represents the weighted average price of shares sold at prices that ranged from $83.52 to $84.51.
6. Represents the weighted average price of shares sold at prices that ranged from $84.52 to $85.50.
7. Represents the weighted average price of shares sold at prices that ranged from $85.54 to $86.00.
/s/ Emily Tan, attorney-in-fact for Yanjun Wang05/06/2026
** 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 occurred on May 4–5, 2026, at prices in the mid-$80 range under a Rule 10b5-1 trading plan.

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

The reported Sea Ltd Class A ordinary share sales were executed at weighted average prices around $84–$87 per share. Individual trades in the filing show prices such as $86.77, $85.93, $85.08, $85.69, $84.92, and $84.17, reflecting typical market fluctuations across the sale dates.

How many Sea Ltd (SE) shares does Wang Yanjun hold after the reported sales?

After the reported sales, the BVI entity controlled by Wang Yanjun held 10,800 Class A ordinary shares indirectly. Separately, Wang held 1,222,842 Class A ordinary shares directly as of May 4, 2026, according to the holding entry included in the same Form 4 filing.

Were the Sea Ltd (SE) insider sales made under a Rule 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 Wang Yanjun. Such pre-arranged plans structure trades in advance, helping separate routine portfolio management from discretionary timing decisions.

Who actually sold the Sea Ltd (SE) shares disclosed in this Form 4?

The sales were executed by a BVI entity that is controlled by reporting person Wang Yanjun, Sea Ltd’s CCO and GC. The Form 4 identifies the holdings as indirect, with the nature of ownership noted as “By BVI entity,” clarifying that the entity, not Wang personally, is the direct holder.