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

Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025 by the BVI entity controlled by Ye Gang, indicating the trades were scheduled in advance rather than timed discretionarily.

Sea Ltd (NYSE: SE) COO-linked BVI entity sells 20,000 Class A shares

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 executed by a BVI entity he controls. The trades occurred on June 8–9, 2026 at weighted average prices generally in the mid-$80s per share, according to multiple price-range footnotes.

The filing notes these sales were made under a pre-arranged Rule 10b5-1 trading plan adopted by the BVI entity on September 4, 2025, indicating the timing was set in advance. After these transactions, Ye Gang continues to hold 22,206,405 Class A ordinary shares directly and 130,000 Class A ordinary shares indirectly through the BVI entity.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($1,683,583)

Net Sell 8 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.68M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	2,393	$82.90	$198K
Sale	Class A ordinary shares	2,954	$83.76	$247K
Sale	Class A ordinary shares	4,310	$84.73	$365K
Sale	Class A ordinary shares	343	$85.46	$29K
Sale	Class A ordinary shares	7,385	$84.17	$622K
Sale	Class A ordinary shares	2,515	$84.74	$213K
Sale	Class A ordinary shares	100	$85.61	$9K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 137,607 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 $83.56 to $84.55. 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 $84.56 to $85.07. Represents the weighted average price of shares sold at prices that ranged from $82.36 to $83.35. Represents the weighted average price of shares sold at prices that ranged from $83.36 to $84.35. Represents the weighted average price of shares sold at prices that ranged from $84.36 to $85.35. Represents the weighted average price of shares sold at prices that ranged from $85.39 to $85.50.

Key Figures

Shares sold: 20,000 shares Price range footnote F2: $83.56–$84.55 Price range footnote F3: $84.56–$85.07 +3 more

6 metrics

Shares sold 20,000 shares Net Class A ordinary shares sold in Form 4

Price range footnote F2 $83.56–$84.55 Weighted average sale price range cited in footnote

Price range footnote F3 $84.56–$85.07 Weighted average sale price range cited in footnote

Direct holdings 22,206,405 shares Direct Class A ordinary share holdings as of June 8, 2026

Indirect holdings 130,000 shares Indirect Class A ordinary shares held via BVI entity after trades

Trades under plan date September 4, 2025 Adoption date of Rule 10b5-1 trading plan

Key Terms

Class A ordinary shares, Rule 10b5-1 trading plan, open-market sale, indirect ownership, +1 more

5 terms

Class A ordinary shares financial

"Sea Ltd Class A ordinary shares were the security traded in these transactions"

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.

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.

open-market sale financial

"Each transaction is described as an open-market sale of non-derivative Class A ordinary shares"

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.

indirect ownership financial

"The filing classifies the trades as indirect ownership with nature of ownership “By BVI entity”"

weighted average price financial

"Footnotes state that figures represent the weighted average price of shares sold in specified ranges"

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.

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Form 4 Insider Transactions: What Each Field Means →

06/10/2026 - 06:14 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)
06/08/2026

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	06/08/2026		S		7,385⁽¹⁾	D	$84.17⁽²⁾	142,615	I	By BVI entity
Class A ordinary shares	06/08/2026		S		2,515⁽¹⁾	D	$84.74⁽³⁾	140,100	I	By BVI entity
Class A ordinary shares	06/08/2026		S		100⁽¹⁾	D	$85.61	140,000	I	By BVI entity
Class A ordinary shares	06/09/2026		S		2,393⁽¹⁾	D	$82.9⁽⁴⁾	137,607	I	By BVI entity
Class A ordinary shares	06/09/2026		S		2,954⁽¹⁾	D	$83.76⁽⁵⁾	134,653	I	By BVI entity
Class A ordinary shares	06/09/2026		S		4,310⁽¹⁾	D	$84.73⁽⁶⁾	130,343	I	By BVI entity
Class A ordinary shares	06/09/2026		S		343⁽¹⁾	D	$85.46⁽⁷⁾	130,000	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 $83.56 to $84.55. 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 $84.56 to $85.07.

4. Represents the weighted average price of shares sold at prices that ranged from $82.36 to $83.35.

5. Represents the weighted average price of shares sold at prices that ranged from $83.36 to $84.35.

6. Represents the weighted average price of shares sold at prices that ranged from $84.36 to $85.35.

7. Represents the weighted average price of shares sold at prices that ranged from $85.39 to $85.50.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	06/10/2026
	** 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 Ye Gang?

Sea Ltd disclosed that a BVI entity controlled by COO and director Ye Gang sold 20,000 Class A ordinary shares. These were indirect, open-market sales executed over two days under a pre-arranged Rule 10b5-1 trading plan.

How many Sea Ltd (SE) shares were sold and at what prices?

The filing reports net sales of 20,000 Class A ordinary shares. Individual trades reference weighted average prices in ranges roughly between $82.36 and $85.50 per share, as detailed in several price-range footnotes within the disclosure.

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

After the reported transactions, Ye Gang holds 22,206,405 Class A ordinary shares directly. He also holds 130,000 Class A ordinary shares indirectly through the BVI entity, according to the post-transaction ownership figures in the Form 4.

Are the Sea Ltd (SE) shares sold held directly by Ye Gang or through an entity?

The sold shares are held indirectly through a BVI entity. The Form 4 notes the nature of ownership as “By BVI entity,” meaning the trades are attributed to that entity, which is controlled by Ye Gang, rather than to his direct personal holdings.

What does the holding entry in Ye Gang’s Sea Ltd (SE) Form 4 represent?

The holding entry shows 22,206,405 Class A ordinary shares with direct ownership as of June 8, 2026. This line reflects Ye Gang’s direct position and is separate from the smaller indirect position held and traded through the BVI entity.