Sea Ltd (NYSE: SE) COO’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 chief operating officer Ye Gang, through a BVI entity he controls, reported open‑market sales of 20,000 Class A ordinary shares on April 22–23, 2026. The trades, executed at prices in the mid‑$80s per share, were made under a Rule 10b5‑1 trading plan adopted on September 4, 2025.

After these transactions, the BVI entity held 260,000 Class A ordinary shares indirectly, while Ye Gang also held 22,396,405 Class A ordinary shares directly.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($1,694,424)

Net Sell 8 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.69M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	3,277	$82.86	$272K
Sale	Class A ordinary shares	5,619	$83.61	$470K
Sale	Class A ordinary shares	1,104	$84.42	$93K
Sale	Class A ordinary shares	1,617	$84.96	$137K
Sale	Class A ordinary shares	5,552	$85.94	$477K
Sale	Class A ordinary shares	2,790	$86.66	$242K
Sale	Class A ordinary shares	41	$87.48	$4K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 266,723 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 $84.36 to $85.355. 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 $85.36 to $86.35. Represents the weighted average price of shares sold at prices that ranged from $86.37 to $87.21. Represents the weighted average price of shares sold at prices that ranged from $87.37 to $87.72. Represents the weighted average price of shares sold at prices that ranged from $82.20 to $83.19. Represents the weighted average price of shares sold at prices that ranged from $83.20 to $84.18. Represents the weighted average price of shares sold at prices that ranged from $84.20 to $84.78.

Key Figures

Shares sold: 20,000 shares Example sale price: $84.42 per share Example sale price: $87.48 per share +3 more

6 metrics

Shares sold 20,000 shares Net open-market sales on April 22–23, 2026

Example sale price $84.42 per share One of the reported open-market sale prices

Example sale price $87.48 per share Additional reported open-market sale price

Indirect holdings after sales 260,000 shares Class A ordinary shares held by BVI entity

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

Rule 10b5-1 plan adoption date September 4, 2025 Date BVI entity adopted trading plan

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

"nature_of_ownership": "By BVI entity""

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.

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 →

04/24/2026 - 06:02 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)
04/22/2026

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	04/22/2026		S		1,617⁽¹⁾	D	$84.96⁽²⁾	278,383	I	By BVI entity
Class A ordinary shares	04/22/2026		S		5,552⁽¹⁾	D	$85.94⁽³⁾	272,831	I	By BVI entity
Class A ordinary shares	04/22/2026		S		2,790⁽¹⁾	D	$86.66⁽⁴⁾	270,041	I	By BVI entity
Class A ordinary shares	04/22/2026		S		41⁽¹⁾	D	$87.48⁽⁵⁾	270,000	I	By BVI entity
Class A ordinary shares	04/23/2026		S		3,277⁽¹⁾	D	$82.86⁽⁶⁾	266,723	I	By BVI entity
Class A ordinary shares	04/23/2026		S		5,619⁽¹⁾	D	$83.61⁽⁷⁾	261,104	I	By BVI entity
Class A ordinary shares	04/23/2026		S		1,104⁽¹⁾	D	$84.42⁽⁸⁾	260,000	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 $84.36 to $85.355. 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 $85.36 to $86.35.

4. Represents the weighted average price of shares sold at prices that ranged from $86.37 to $87.21.

5. Represents the weighted average price of shares sold at prices that ranged from $87.37 to $87.72.

6. Represents the weighted average price of shares sold at prices that ranged from $82.20 to $83.19.

7. Represents the weighted average price of shares sold at prices that ranged from $83.20 to $84.18.

8. Represents the weighted average price of shares sold at prices that ranged from $84.20 to $84.78.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	04/24/2026
	** 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 activity did Sea Ltd (SE) report for COO Ye Gang?

Sea Ltd reported that COO Ye Gang, through a controlled BVI entity, sold 20,000 Class A ordinary shares in open‑market transactions. These trades occurred on April 22–23, 2026 and were executed under a pre‑arranged Rule 10b5‑1 trading plan adopted in September 2025.

How many Sea Ltd (SE) shares were sold in this Form 4 filing?

The filing shows open‑market sales totaling 20,000 Class A ordinary shares. These sales were broken into several transactions across April 22–23, 2026, with each line item reflecting a specific share amount and weighted average price within defined intraday trading ranges disclosed in the footnotes.

At what prices were Sea Ltd (SE) shares sold in the reported transactions?

The reported sales occurred at weighted average prices generally in the $82–$88 range per share. Individual transactions list example prices such as $84.42, $83.61, $82.86, $87.48, $86.66, $85.94 and $84.96, with footnotes describing the precise price ranges.

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

Yes. The filing states the shares were sold pursuant to a Rule 10b5‑1 trading plan adopted on September 4, 2025 by a BVI entity controlled by the reporting person. Such pre‑arranged plans schedule trades in advance, reducing the role of day‑to‑day discretion in transaction timing.

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

After the reported sales, the BVI entity associated with Ye Gang held 260,000 Class A ordinary shares indirectly. Separately, Ye Gang held 22,396,405 Class A ordinary shares directly as of April 22, 2026, according to the holdings line included in the Form 4 filing.

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

The reported sales were made through a BVI entity described as being controlled by Ye Gang. The Form 4 classifies these positions as indirect ownership, noting “By BVI entity” for the sold shares, while also disclosing a large block of Class A ordinary shares held directly by the reporting person.