Were Chen Jingye’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 Chen Jingye. Such plans pre-schedule trades, reducing the significance of short-term market timing decisions by insiders.

Sea Ltd (NYSE: SE) CPO Chen Jingye logs small 800-share insider sale

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd’s Chief Product Officer for Shopee, Chen Jingye, reported small open-market sales of Class A ordinary shares on May 20, 2026. A BVI entity associated with Chen sold a total of 800 shares in three trades at weighted-average prices around the mid‑$80s per share under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, Chen continued to hold 9,075,774 Class A ordinary shares directly, indicating that the sales represent a minor portion of her overall ownership.

Insights

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

Chen Jingye, CPO of Shopee at Sea Ltd, oversaw the sale of 800 Class A ordinary shares on May 20, 2026 through a BVI entity. Sale prices ranged from about $85 to $87 per share.

The filing states these sales were made under a Rule 10b5-1 trading plan adopted by the BVI entity, which means the trades were pre-scheduled rather than timed discretionarily. Chen still holds 9,075,774 shares directly, so the reported sales are small relative to her total stake.

Because the transaction size is modest and executed under a trading plan, it looks like routine portfolio management. Future company filings may provide additional context if Chen’s aggregate trading activity or role changes from this baseline.

Insider Trade Summary 10b5-1

Net Seller: 800 shares ($69,078)

Net Sell 4 txns

Insider Chen Jingye

Role CPO, Shopee

Sold 800 shs ($69K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	155	$85.42	$13K
Sale	Class A ordinary shares	618	$86.55	$53K
Sale	Class A ordinary shares	27	$87.03	$2K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 205,445 shares (Indirect, By BVI entity); Class A ordinary shares — 9,075,774 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 August 28, 2025. Represents the weighted average price of shares sold at prices that ranged from $84.96 to $85.95. 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 $85.98 to $86.95. Represents the weighted average price of shares sold at prices that ranged from $86.96 to $87.10.

Key Figures

Shares sold: 800 shares Sale price 1: $87.03/share Sale price 2: $86.55/share +3 more

6 metrics

Shares sold 800 shares Total Class A ordinary shares sold on May 20, 2026

Sale price 1 $87.03/share One reported sale price for Class A shares

Sale price 2 $86.55/share One reported sale price for Class A shares

Sale price 3 $85.42/share One reported sale price for Class A shares

Direct holdings after transaction 9,075,774 shares Class A ordinary shares held directly after May 20, 2026

Net shares sold 800 shares Net buy/sell direction reported as net-sell

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

"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.

BVI entity financial

"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 $84.96 to $85.95"

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 →

05/21/2026 - 06:04 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^*

Chen Jingye

(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)
	CPO, Shopee

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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	05/20/2026		S		155⁽¹⁾	D	$85.42⁽²⁾	205,445	I	By BVI entity
Class A ordinary shares	05/20/2026		S		618⁽¹⁾	D	$86.55⁽³⁾	204,827	I	By BVI entity
Class A ordinary shares	05/20/2026		S		27⁽¹⁾	D	$87.03⁽⁴⁾	204,800	I	By BVI entity
Class A ordinary shares								9,075,774	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 August 28, 2025.

2. Represents the weighted average price of shares sold at prices that ranged from $84.96 to $85.95. 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 $85.98 to $86.95.

4. Represents the weighted average price of shares sold at prices that ranged from $86.96 to $87.10.

	/s/ Mark Tang, attorney-in-fact for Jingye Chen	05/21/2026
	** 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) report for Chen Jingye?

Sea Ltd reported that Shopee CPO Chen Jingye oversaw the sale of 800 Class A ordinary shares on May 20, 2026. The trades were executed by a BVI entity associated with her and disclosed in a Form 4 insider filing.

How many Sea Ltd (SE) shares did Chen Jingye sell and at what prices?

A BVI entity associated with Chen Jingye sold 800 Sea Ltd Class A ordinary shares. The reported weighted-average sale prices were around $85.42, $86.55, and $87.03 per share across three open-market transactions on May 20, 2026.

How many Sea Ltd (SE) shares does Chen Jingye hold after this Form 4?

After the reported transactions, Chen Jingye holds 9,075,774 Sea Ltd Class A ordinary shares directly. This large remaining position shows the 800 shares sold via the BVI entity are a small fraction of her overall direct holdings.

Why are Chen Jingye’s Sea Ltd (SE) shares held through a BVI entity noted as indirect?

The Form 4 marks those positions as indirect with ownership described as “By BVI entity.” This means the BVI entity, controlled by Chen Jingye, is the legal holder of those shares, and its trades are attributed to her for reporting purposes.