Were Ye Gang’s Sea Ltd (SE) share sales pre-planned under Rule 10b5-1?

Yes. A footnote explains the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the BVI entity controlled by Ye Gang on September 4, 2025. Such plans allow pre-scheduled trades to occur regardless of later market conditions.

Sea Ltd (SE) COO Ye Gang’s BVI entity sells 20,000 shares under 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd director and COO Ye Gang reported indirect open-market sales of 20,000 Class A ordinary shares in late April 2026 through a BVI entity he controls. The trades, executed on April 24 and April 27, 2026, were made under a Rule 10b5-1 trading plan adopted on September 4, 2025.

Sale prices were reported as weighted averages within ranges from $83.08 up to $86.42 per share. After these sales, the BVI entity’s indirect holdings stood at 240,000 shares, while Ye Gang also held 22,396,405 shares directly, indicating the transactions represent a small portion of his overall position.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($1,704,885)

Net Sell 6 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.70M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	420	$84.76	$36K
Sale	Class A ordinary shares	9,580	$85.97	$824K
Sale	Class A ordinary shares	1,781	$83.71	$149K
Sale	Class A ordinary shares	5,967	$84.55	$505K
Sale	Class A ordinary shares	2,252	$85.30	$192K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 249,580 shares (Indirect, By BVI entity); Class A ordinary shares — 22,396,405 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 $83.08 to $84.07. 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 $84.08 to $85.07. Represents the weighted average price of shares sold at prices that ranged from $85.08 to $85.78. Represents the weighted average price of shares sold at prices that ranged from $84.47 to $85.33. Represents the weighted average price of shares sold at prices that ranged from $85.56 to $86.42.

Key Figures

Shares sold: 20,000 shares Example sale price: $85.97 per share Price range (lowest): $83.08 per share +3 more

6 metrics

Shares sold 20,000 shares Open-market sales in April 2026 by BVI entity

Example sale price $85.97 per share Class A ordinary share sale on April 27, 2026

Price range (lowest) $83.08 per share Lower end of weighted-average sale range noted in footnote

Price range (highest) $86.42 per share Upper end of weighted-average sale range noted in footnote

Indirect holdings after sales 240,000 shares Class A ordinary shares held by BVI entity after transactions

Direct holdings 22,396,405 shares Class A ordinary shares held directly as of April 24, 2026

Key Terms

Rule 10b5-1 trading plan, weighted average price, Class A ordinary shares, indirect ownership, +1 more

5 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.

indirect ownership financial

""direct_or_indirect": "I", "ownership_type": "indirect""

BVI entity other

""nature_of_ownership": "By BVI entity""

Form 4 Insider Transactions: What Each Field Means →

04/28/2026 - 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)
04/24/2026

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	04/24/2026		S		1,781⁽¹⁾	D	$83.71⁽²⁾	258,219	I	By BVI entity
Class A ordinary shares	04/24/2026		S		5,967⁽¹⁾	D	$84.55⁽³⁾	252,252	I	By BVI entity
Class A ordinary shares	04/24/2026		S		2,252⁽¹⁾	D	$85.3⁽⁴⁾	250,000	I	By BVI entity
Class A ordinary shares	04/27/2026		S		420⁽¹⁾	D	$84.76⁽⁵⁾	249,580	I	By BVI entity
Class A ordinary shares	04/27/2026		S		9,580⁽¹⁾	D	$85.97⁽⁶⁾	240,000	I	By BVI entity
Class A ordinary shares								22,396,405	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 $83.08 to $84.07. 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 $84.08 to $85.07.

4. Represents the weighted average price of shares sold at prices that ranged from $85.08 to $85.78.

5. Represents the weighted average price of shares sold at prices that ranged from $84.47 to $85.33.

6. Represents the weighted average price of shares sold at prices that ranged from $85.56 to $86.42.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	04/28/2026
	** 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 transactions did Sea Ltd (SE) report for Ye Gang?

Sea Ltd reported that COO and director Ye Gang’s BVI entity sold 20,000 Class A ordinary shares in open-market transactions. The trades occurred on April 24 and April 27, 2026, under a pre-established Rule 10b5-1 trading plan adopted in September 2025.

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

The filing shows weighted average sale prices within ranges between $83.08 and $86.42 per share. Individual lines report example prices near $83.71, $84.55, $84.76, $85.30, and $85.97, reflecting multiple open-market trades executed across two trading days.

How many Sea Ltd (SE) shares did Ye Gang sell and how many does he still hold?

The BVI entity associated with Ye Gang sold a total of 20,000 Class A ordinary shares. Following the transactions, it held 240,000 shares indirectly, while Ye Gang also had a separate direct holding of 22,396,405 Class A ordinary shares as reflected in the filing.

Are the Sea Ltd (SE) sales attributed directly to Ye Gang or to an entity?

The transactions are reported as indirect ownership, with shares held and sold “By BVI entity” controlled by Ye Gang. This means the BVI entity executed the open-market sales, while the Form 4 attributes indirect beneficial ownership to the reporting person.