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

Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Ye Gang on September 4, 2025. Such pre-arranged plans schedule trades in advance, helping separate trading decisions from day-to-day market moves.

Sea Ltd (NYSE: SE) COO-linked 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 open-market sales of a total of 20,000 Class A ordinary shares on May 21–22, 2026. The sales were executed by a BVI entity controlled by him under a pre-arranged Rule 10b5-1 trading plan adopted on September 4, 2025, at prices generally between $84.86 and $91.68 per share.

After these transactions, the filing shows Ye holding 22,206,405 Class A shares directly and 244,332 shares indirectly through the BVI entity, indicating a large remaining stake in Sea Ltd.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($1,750,820)

Net Sell 11 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.75M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	5,668	$86.53	$490K
Sale	Class A ordinary shares	469	$87.46	$41K
Sale	Class A ordinary shares	582	$88.69	$52K
Sale	Class A ordinary shares	2,069	$89.56	$185K
Sale	Class A ordinary shares	814	$90.61	$74K
Sale	Class A ordinary shares	398	$91.40	$36K
Sale	Class A ordinary shares	2,118	$85.41	$181K
Sale	Class A ordinary shares	248	$86.38	$21K
Sale	Class A ordinary shares	4,904	$87.58	$429K
Sale	Class A ordinary shares	2,730	$88.09	$240K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 244,332 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 $84.86 to $85.83. 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 $86.08 to $86.85. Represents the weighted average price of shares sold at prices that ranged from $86.87 to $87.85. Represents the weighted average price of shares sold at prices that ranged from $87.86 to $88.65. Represents the weighted average price of shares sold at prices that ranged from $86.08 to $87.07. Represents the weighted average price of shares sold at prices that ranged from $87.08 to $87.93. Represents the weighted average price of shares sold at prices that ranged from $88.15 to $89.03. Represents the weighted average price of shares sold at prices that ranged from $89.15 to $90.08. Represents the weighted average price of shares sold at prices that ranged from $90.09 to $91.00. Represents the weighted average price of shares sold at prices that ranged from $91.10 to $91.68.

Key Figures

Shares sold: 20,000 shares Sale price range: $84.86–$91.68 per share Direct holdings after trades: 22,206,405 shares +3 more

6 metrics

Shares sold 20,000 shares Class A ordinary shares sold May 21–22, 2026

Sale price range $84.86–$91.68 per share Weighted average price ranges from multiple sale tranches

Direct holdings after trades 22,206,405 shares Class A ordinary shares held directly following transactions

Indirect holdings after trades 244,332 shares Class A ordinary shares held via BVI entity after trades

Sell transactions count 10 transactions Open-market sale entries in the Form 4

Net share direction 20,000 net shares sold transactionSummary netBuySellShares and netBuySellDirection

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 by a BVI entity controlled by the Reporting Person"

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 from $84.86 to $85.83"

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, nature_of_ownership: By BVI entity"

open-market sale regulatory

"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 →

05/26/2026 - 06:07 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)
05/21/2026

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	05/21/2026		S		2,118⁽¹⁾	D	$85.41⁽²⁾	257,882	I	By BVI entity
Class A ordinary shares	05/21/2026		S		248⁽¹⁾	D	$86.38⁽³⁾	257,634	I	By BVI entity
Class A ordinary shares	05/21/2026		S		4,904⁽¹⁾	D	$87.58⁽⁴⁾	252,730	I	By BVI entity
Class A ordinary shares	05/21/2026		S		2,730⁽¹⁾	D	$88.09⁽⁵⁾	250,000	I	By BVI entity
Class A ordinary shares	05/22/2026		S		5,668⁽¹⁾	D	$86.53⁽⁶⁾	244,332	I	By BVI entity
Class A ordinary shares	05/22/2026		S		469⁽¹⁾	D	$87.46⁽⁷⁾	243,863	I	By BVI entity
Class A ordinary shares	05/22/2026		S		582⁽¹⁾	D	$88.69⁽⁸⁾	243,281	I	By BVI entity
Class A ordinary shares	05/22/2026		S		2,069⁽¹⁾	D	$89.56⁽⁹⁾	241,212	I	By BVI entity
Class A ordinary shares	05/22/2026		S		814⁽¹⁾	D	$90.61⁽¹⁰⁾	240,398	I	By BVI entity
Class A ordinary shares	05/22/2026		S		398⁽¹⁾	D	$91.4⁽¹¹⁾	240,000	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 $84.86 to $85.83. 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 $86.08 to $86.85.

4. Represents the weighted average price of shares sold at prices that ranged from $86.87 to $87.85.

5. Represents the weighted average price of shares sold at prices that ranged from $87.86 to $88.65.

6. Represents the weighted average price of shares sold at prices that ranged from $86.08 to $87.07.

7. Represents the weighted average price of shares sold at prices that ranged from $87.08 to $87.93.

8. Represents the weighted average price of shares sold at prices that ranged from $88.15 to $89.03.

9. Represents the weighted average price of shares sold at prices that ranged from $89.15 to $90.08.

10. Represents the weighted average price of shares sold at prices that ranged from $90.09 to $91.00.

11. Represents the weighted average price of shares sold at prices that ranged from $91.10 to $91.68.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	05/26/2026
	** 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 COO Ye Gang?

Sea Ltd reported that a BVI entity controlled by COO and director Ye Gang sold 20,000 Class A ordinary shares in open-market transactions. These trades occurred on May 21–22, 2026, and were disclosed in a Form 4 insider filing with detailed price ranges.

How many Sea Ltd (SE) shares did the BVI entity sell and at what prices?

The BVI entity associated with COO Ye Gang sold 20,000 Sea Ltd Class A ordinary shares. The filing shows individual trades with weighted average sale prices spanning approximately $84.86 to $91.68 per share across multiple transactions over May 21–22, 2026.

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

After the reported transactions, the Form 4 shows Ye Gang holding 22,206,405 Class A ordinary shares directly. It also reports an additional 244,332 Class A shares held indirectly through the BVI entity that executed the sales, indicating a substantial ongoing ownership position.

Are the Sea Ltd (SE) insider sales direct or indirect holdings of Ye Gang?

The sales involve indirect holdings. The Form 4 explains that a BVI entity, described as being controlled by Ye Gang, executed the open-market sales. Separate from this, the filing lists a large block of Class A ordinary shares held directly in Ye Gang’s own name.

What does the Form 4 say about Sea Ltd (SE) sale price details?

The Form 4 provides weighted average sale prices for each transaction and notes price ranges, such as $84.86 to $85.83 and up to $91.10 to $91.68. It also states the reporting person will supply exact share counts at each price upon request to regulators or shareholders.