Were Feng Zhimin’s Sea Ltd (SE) share sales under a Rule 10b5-1 plan?

Yes. A footnote states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Feng on March 26, 2026. This indicates the trades followed a pre-established, automated schedule rather than discretionary timing.

30,000 Sea Ltd shares sold by president under plan

Q: What did Sea Ltd (SE) executive Feng Zhimin report in this Form 4?

Feng Zhimin reported indirect sales of 30,000 Class A ordinary shares of Sea Ltd on August 13–14, 2026. The trades were executed by a controlled BVI entity under a Rule 10b5-1 trading plan, with Feng also reporting 1,003,969 shares held directly.

Q: How many Sea Ltd (SE) shares did Feng Zhimin sell and at what prices?

The filing shows 30,000 Class A ordinary shares sold indirectly over nine transactions. Reported per-share prices include $121.84, $122.60, $123.64, $125.00, $122.88, $123.84, $124.90, $126.05, and $127.02, with several footnotes describing weighted average price ranges for grouped trades.

Q: Are the Sea Ltd (SE) shares in this Form 4 held directly or indirectly by Feng Zhimin?

The 30,000 shares sold were held indirectly through a BVI entity controlled by Feng. In addition, the Form 4 reports 1,003,969 Class A ordinary shares held directly by Feng as of August 13, 2026, providing a snapshot of his direct ownership.

Q: What is the significance of the weighted average price footnotes in Sea Ltd (SE)’s Form 4?

Several trades list a single price but are footnoted as weighted average prices for shares sold within specified ranges, such as $122.46–$123.44. The reporting person undertakes to provide full price breakdowns upon request to the SEC, issuer, or security holders.

Q: Did the Form 4 disclose Feng Zhimin’s remaining Sea Ltd (SE) direct holdings?

Yes. A holding entry shows 1,003,969 Class A ordinary shares held directly by Feng as of August 13, 2026. This figure is separate from the indirectly held and sold 30,000 shares through the BVI entity referenced elsewhere in the filing.

Sea Ltd executive Feng Zhimin, President, reported a series of indirect sales of Sea’s Class A ordinary shares totaling 30,000 shares on August 13–14, 2026.

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Sea Ltd executive Feng Zhimin, President, reported a series of indirect sales of Sea’s Class A ordinary shares totaling 30,000 shares on August 13–14, 2026. The shares were sold by a BVI entity controlled by Feng under a Rule 10b5-1 trading plan adopted on March 26, 2026, at prices generally around $121–$127 per share. Separately, Feng reported 1,003,969 Class A ordinary shares held directly after these transactions.

Insights

Analyzing...

Insider Trade Summary 10b5-1

Net Seller: 30,000 shares

Net Sell 10 txns

Insider Feng Zhimin

Role President

Sold 30,000 shs ($3.69M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares ^{F1, F7}	10,003	$121.84	$1.22M
Sale	Class A ordinary shares ^{F1, F8}	4,221	$122.60	$517K
Sale	Class A ordinary shares ^{F1, F9}	589	$123.64	$73K
Sale	Class A ordinary shares ^F1	187	$125.00	$23K
Sale	Class A ordinary shares ^{F1, F2}	5,472	$122.88	$672K
Sale	Class A ordinary shares ^{F1, F3}	4,960	$123.84	$614K
Sale	Class A ordinary shares ^{F1, F4}	2,755	$124.90	$344K
Sale	Class A ordinary shares ^{F1, F5}	1,107	$126.05	$140K
Sale	Class A ordinary shares ^{F1, F6}	706	$127.02	$90K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 240,000 shares (Indirect, By BVI entity); Class A ordinary shares — 1,003,969 shares (Direct)

Footnotes (9)

F1. The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person on March 26, 2026.
F2. Represents the weighted average price of shares sold at prices that ranged from $122.46 to $123.44. 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.
F3. Represents the weighted average price of shares sold at prices that ranged from $123.51 to $124.39.
F4. Represents the weighted average price of shares sold at prices that ranged from $124.47 to $125.41.
F5. Represents the weighted average price of shares sold at prices that ranged from $125.69 to $126.44.
F6. Represents the weighted average price of shares sold at prices that ranged from $126.49 to $127.45.
F7. Represents the weighted average price of shares sold at prices that ranged from $121.26 to $122.24.
F8. Represents the weighted average price of shares sold at prices that ranged from $122.27 to $123.24.
F9. Represents the weighted average price of shares sold at prices that ranged from $123.35 to $124.09.

Key Figures

Total shares sold: 30,000 shares Sale price per share: $121.84 Sale price per share: $127.02 +2 more

5 metrics

Total shares sold 30,000 shares Indirect sales of Class A ordinary shares on August 13–14, 2026

Sale price per share $121.84 Indirect sale of 10,003 Class A ordinary shares on August 14, 2026

Sale price per share $127.02 Indirect sale of 706 Class A ordinary shares on August 13, 2026

Direct holdings after transactions 1,003,969 shares Directly held Class A ordinary shares as of August 13, 2026

Rule 10b5-1 plan adoption date March 26, 2026 Trading plan for BVI entity controlled by the reporting person

Key Terms

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

4 terms

Rule 10b5-1 trading plan regulatory

"The shares were sold pursuant to a Rule 10b5-1 trading plan adopted"

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.

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.

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 other

"adopted by a BVI entity controlled by the Reporting Person"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Sea Ltd (SE) executive Feng Zhimin report in this Form 4?

Feng Zhimin reported indirect sales of 30,000 Class A ordinary shares of Sea Ltd on August 13–14, 2026. The trades were executed by a controlled BVI entity under a Rule 10b5-1 trading plan, with Feng also reporting 1,003,969 shares held directly.

How many Sea Ltd (SE) shares did Feng Zhimin sell and at what prices?

The filing shows 30,000 Class A ordinary shares sold indirectly over nine transactions. Reported per-share prices include $121.84, $122.60, $123.64, $125.00, $122.88, $123.84, $124.90, $126.05, and $127.02, with several footnotes describing weighted average price ranges for grouped trades.

Are the Sea Ltd (SE) shares in this Form 4 held directly or indirectly by Feng Zhimin?

The 30,000 shares sold were held indirectly through a BVI entity controlled by Feng. In addition, the Form 4 reports 1,003,969 Class A ordinary shares held directly by Feng as of August 13, 2026, providing a snapshot of his direct ownership.

What is the significance of the weighted average price footnotes in Sea Ltd (SE)’s Form 4?

Several trades list a single price but are footnoted as weighted average prices for shares sold within specified ranges, such as $122.46–$123.44. The reporting person undertakes to provide full price breakdowns upon request to the SEC, issuer, or security holders.

Did the Form 4 disclose Feng Zhimin’s remaining Sea Ltd (SE) direct holdings?

Yes. A holding entry shows 1,003,969 Class A ordinary shares held directly by Feng as of August 13, 2026. This figure is separate from the indirectly held and sold 30,000 shares through the BVI entity referenced elsewhere in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 08/17/2026 - 06:05 AM EDT

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^*

Feng Zhimin

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2026

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	08/13/2026		S		5,472⁽¹⁾	D	$122.88⁽²⁾	264,528	I	By BVI entity
Class A ordinary shares	08/13/2026		S		4,960⁽¹⁾	D	$123.84⁽³⁾	259,568	I	By BVI entity
Class A ordinary shares	08/13/2026		S		2,755⁽¹⁾	D	$124.9⁽⁴⁾	256,813	I	By BVI entity
Class A ordinary shares	08/13/2026		S		1,107⁽¹⁾	D	$126.05⁽⁵⁾	255,706	I	By BVI entity
Class A ordinary shares	08/13/2026		S		706⁽¹⁾	D	$127.02⁽⁶⁾	255,000	I	By BVI entity
Class A ordinary shares	08/14/2026		S		10,003⁽¹⁾	D	$121.84⁽⁷⁾	244,997	I	By BVI entity
Class A ordinary shares	08/14/2026		S		4,221⁽¹⁾	D	$122.6⁽⁸⁾	240,776	I	By BVI entity
Class A ordinary shares	08/14/2026		S		589⁽¹⁾	D	$123.64⁽⁹⁾	240,187	I	By BVI entity
Class A ordinary shares	08/14/2026		S		187⁽¹⁾	D	$125	240,000	I	By BVI entity
Class A ordinary shares								1,003,969	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 March 26, 2026.

2. Represents the weighted average price of shares sold at prices that ranged from $122.46 to $123.44. 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 $123.51 to $124.39.

4. Represents the weighted average price of shares sold at prices that ranged from $124.47 to $125.41.

5. Represents the weighted average price of shares sold at prices that ranged from $125.69 to $126.44.

6. Represents the weighted average price of shares sold at prices that ranged from $126.49 to $127.45.

7. Represents the weighted average price of shares sold at prices that ranged from $121.26 to $122.24.

8. Represents the weighted average price of shares sold at prices that ranged from $122.27 to $123.24.

9. Represents the weighted average price of shares sold at prices that ranged from $123.35 to $124.09.

	/s/ Emily Tan, attorney-in-fact for Zhimin Feng	08/17/2026
	** 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