Were Ye Gang’s Sea Ltd (SE) share sales part of a Rule 10b5-1 plan?

Yes. The filing states the shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Ye Gang. Such plans schedule trades in advance, reducing the significance of trade timing as a signal of management’s short-term expectations.

Sea Ltd (NYSE: SE) COO-linked BVI entity sells 10,000 shares under plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd COO and director Ye Gang reported indirect open-market sales of a total of 10,000 Class A ordinary shares on 2026-05-28 through a BVI entity he controls. The trades were executed under a pre-arranged Rule 10b5-1 trading plan, indicating they were scheduled in advance.

The filing shows weighted average sale prices around $92 per share across two price ranges. Following these transactions, Ye Gang continues to hold 22,206,405 Class A ordinary shares directly, and additional shares indirectly via the BVI entity, so the sales represent a small portion of his overall position.

Insights

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

The filing shows a net sale of 10,000 Class A shares for Sea Ltd by a BVI entity controlled by COO Ye Gang. Trades were executed at weighted average prices around $92 under a Rule 10b5-1 trading plan, suggesting routine portfolio management.

Context matters: Ye Gang retains 22,206,405 shares directly after these transactions, plus an additional indirect stake. Relative to his disclosed holdings, the sale size is small, so its informational value about his outlook on the stock appears limited based solely on this filing.

Insider Trade Summary 10b5-1

Net Seller: 10,000 shares ($920,235)

Net Sell 3 txns

Insider Ye Gang

Role COO

Sold 10,000 shs ($920K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	5,936	$91.80	$545K
Sale	Class A ordinary shares	4,064	$92.35	$375K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 214,064 shares (Indirect, By BVI entity); Class A ordinary shares — 22,206,405 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 $91.11 to $92.10. 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 $92.11 to $93.05.

Key Figures

Shares sold: 10,000 shares Sale price range 1: $91.11–$92.10 Sale price range 2: $92.11–$93.05 +3 more

6 metrics

Shares sold 10,000 shares Total Class A ordinary shares sold on May 28, 2026

Sale price range 1 $91.11–$92.10 Price range for one tranche, weighted average disclosed

Sale price range 2 $92.11–$93.05 Price range for second tranche, weighted average disclosed

Direct holdings after transaction 22,206,405 shares Class A ordinary shares held directly by Ye Gang after trades

Transaction type Open-market sales Non-derivative sales by BVI entity controlled by COO

Trading plan type Rule 10b5-1 plan Pre-arranged plan governing the reported sales

Key Terms

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

4 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""

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.

BVI entity financial

"a BVI entity controlled by the Reporting Person"

Form 4 Insider Transactions: What Each Field Means →

05/29/2026 - 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)
05/28/2026

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	05/28/2026		S		5,936⁽¹⁾	D	$91.8⁽²⁾	214,064	I	By BVI entity
Class A ordinary shares	05/28/2026		S		4,064⁽¹⁾	D	$92.35⁽³⁾	210,000	I	By BVI entity
Class A ordinary shares								22,206,405	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 $91.11 to $92.10. 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 $92.11 to $93.05.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	05/29/2026
	** 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 Ltd (SE) disclose for COO Ye Gang?

Sea Ltd disclosed that a BVI entity controlled by COO Ye Gang sold 10,000 Class A ordinary shares on May 28, 2026. These were open-market sales executed under a Rule 10b5-1 trading plan, indicating the trades were pre-scheduled rather than opportunistic.

At what prices were the Sea Ltd (SE) shares sold in Ye Gang’s Form 4?

The shares were sold at weighted average prices around $92 per share. One tranche reflected prices ranging from $91.11 to $92.10, and the other from $92.11 to $93.05, according to the filing’s detailed pricing footnotes.

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

After the reported transactions, Ye Gang directly holds 22,206,405 Class A ordinary shares of Sea Ltd. The filing also shows additional shares held indirectly through a BVI entity, so his total economic exposure remains substantially larger than the 10,000 shares sold.

Were the Sea Ltd (SE) sales made directly by Ye Gang or through another entity?

The sales were made indirectly through a BVI entity described in the filing as controlled by Ye Gang. The Form 4 identifies these as indirect holdings, while also listing a large block of Class A ordinary shares held directly in his own name.

Does the Form 4 for Sea Ltd (SE) show any option exercises by Ye Gang?

No. The Form 4 summarizes only open-market sales of common equity and a holding entry. The derivative section shows no option or warrant exercises, and the transaction summary reports zero derivative exercises in this particular filing.