Sea Ltd (SE) CCO-linked BVI entity sells 1,600 shares under 10b5-1 plan

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 on May 18–19, 2026. The trades were executed by a BVI entity controlled by Wang under a pre-arranged Rule 10b5-1 trading plan at prices between approximately $86.04 and $89.88 per share. After these sales, Wang continues to hold about 1,212,442 Class A ordinary shares directly, indicating these transactions represent a small portion of his overall position.

Insights

Equity compensation and insider-trading analyst

Pre-planned, small-scale insider sales via a controlled entity look routine.

The filing shows a BVI entity controlled by CCO and GC Wang Yanjun sold 1,600 Class A ordinary shares of Sea Ltd in open-market transactions. Prices ranged from about $86.04 to $89.88 per share across May 18–19, 2026.

A footnote states these transactions were made under a Rule 10b5-1 trading plan adopted by the BVI entity. Such plans are established in advance, so the timing carries limited informational value. After the sales, Wang still directly holds about 1,212,442 shares, so the net-sell volume is small relative to his visible stake.

There are no derivative exercises or tax-withholding events in this snapshot, and the derivativeSummary is empty. Subsequent company filings may provide further context on any future pre-planned trades under this or other 10b5-1 plans.

Insider Trade Summary 10b5-1

Net Seller: 1,600 shares ($140,256)

Net Sell 8 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($140K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	254	$86.77	$22K
Sale	Class A ordinary shares	488	$87.38	$43K
Sale	Class A ordinary shares	58	$88.37	$5K
Sale	Class A ordinary shares	48	$87.01	$4K
Sale	Class A ordinary shares	704	$88.03	$62K
Sale	Class A ordinary shares	24	$89.27	$2K
Sale	Class A ordinary shares	24	$89.88	$2K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 13,746 shares (Indirect, By BVI entity); Class A ordinary shares — 1,212,442 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 $86.59 to $87.43. 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 $87.60 to $88.44. Represents the weighted average price of shares sold at prices that ranged from $86.04 to $87.037. Represents the weighted average price of shares sold at prices that ranged from $87.04 to $88.04. Represents the weighted average price of shares sold at prices that ranged from $88.05 to $88.69.

Key Figures

Shares sold: 1,600 shares Sale price range: $86.04–$89.88 per share Direct holdings after transactions: 1,212,442 shares +2 more

5 metrics

Shares sold 1,600 shares Net open-market sales reported for May 18–19, 2026

Sale price range $86.04–$89.88 per share Class A ordinary share sales via BVI entity

Direct holdings after transactions 1,212,442 shares Class A ordinary shares held directly as of May 18, 2026

Individual sale example 58 shares at $88.37 Class A ordinary shares sold on May 19, 2026

Individual sale example 488 shares at $87.38 Class A ordinary shares sold on May 19, 2026

Key Terms

Rule 10b5-1 trading plan, Class A ordinary shares, open-market sale, BVI entity, +1 more

5 terms

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 in multiple non-derivative transactions"

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.

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.

BVI entity financial

"adopted by a BVI entity controlled by the Reporting Person on September 4, 2025"

indirect ownership financial

"ownership_type: indirect, nature_of_ownership: By BVI entity"

Form 4 Insider Transactions: What Each Field Means →

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).

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)

SINGAPORE 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CCO and GC

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A ordinary shares	05/18/2026		S		48(1)	D	$87.01(2)	14,752	I	By BVI entity
Class A ordinary shares	05/18/2026		S		704(1)	D	$88.03(3)	14,048	I	By BVI entity
Class A ordinary shares	05/18/2026		S		24(1)	D	$89.27	14,024	I	By BVI entity
Class A ordinary shares	05/18/2026		S		24(1)	D	$89.88	14,000	I	By BVI entity
Class A ordinary shares	05/19/2026		S		254(1)	D	$86.77(4)	13,746	I	By BVI entity
Class A ordinary shares	05/19/2026		S		488(1)	D	$87.38(5)	13,258	I	By BVI entity
Class A ordinary shares	05/19/2026		S		58(1)	D	$88.37(6)	13,200	I	By BVI entity
Class A ordinary shares								1,212,442	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount 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 $86.59 to $87.43. 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 $87.60 to $88.44.

4. Represents the weighted average price of shares sold at prices that ranged from $86.04 to $87.037.

5. Represents the weighted average price of shares sold at prices that ranged from $87.04 to $88.04.

6. Represents the weighted average price of shares sold at prices that ranged from $88.05 to $88.69.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	05/20/2026
	** 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)

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. The sales occurred in open-market transactions on May 18–19, 2026 at prices in the high-$80s per share under a Rule 10b5-1 plan.

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

The reported sales of Sea Ltd Class A ordinary shares were executed at prices between approximately $86.04 and $89.88 per share. Footnotes specify weighted-average prices and note that detailed trade breakdowns by exact price are available upon request to the reporting person.

How many Sea Ltd shares does Wang Yanjun hold after these reported sales?

After the reported transactions, Wang Yanjun directly holds about 1,212,442 Class A ordinary shares of Sea Ltd as of May 18, 2026. He also has additional indirect holdings through a BVI entity that executed the 1,600-share open-market sales.

Were the Sea Ltd (SE) insider sales made under a Rule 10b5-1 trading plan?

Yes. A footnote states the BVI entity controlled by Wang Yanjun sold the shares pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025. Such pre-arranged plans typically indicate the trades were scheduled in advance, reducing timing significance.

Does this Sea Ltd Form 4 show any option exercises or derivative transactions?

No. The Form 4 summary lists zero derivative transactions, with exerciseShares and derivativeTransactionCount both reported as 0. All recorded activity involves non-derivative Class A ordinary shares sold in open-market transactions, plus one direct holding entry without share movement.