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Sea Ltd (NYSE: SE) CCO’s BVI entity sells 2,000 Class A shares under 10b5-1 plan

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Sea Ltd’s Chief Corporate Officer and General Counsel, Wang Yanjun, reported a series of open-market sales of Class A ordinary shares carried out by a BVI entity he controls. Over June 29–30, 2026, that BVI entity sold a total of 2,000 Class A ordinary shares at prices ranging from about $90.41 to $95.65 per share. The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by the BVI entity on March 26, 2026, indicating they were pre-arranged rather than discretionary trades. A separate entry shows 1,162,442 Class A ordinary shares held directly as of June 29, 2026, providing context for the size of these indirect sales.

Positive

  • None.

Negative

  • None.

Insights

Pre-planned small insider sales via a controlled BVI entity.

Sea Ltd’s CCO and GC, Wang Yanjun, reported that a BVI entity he controls sold 2,000 Class A ordinary shares of the company in open-market transactions on June 29–30, 2026. Reported prices ranged roughly from $90.41 to $95.65 per share.

The filing states these transactions were made under a Rule 10b5-1 trading plan adopted on March 26, 2026. Such plans are established in advance and automate trading, which generally makes the timing of the sales less informative about the insider’s current view of the stock.

A separate holding line shows 1,162,442 Class A ordinary shares held directly as of June 29, 2026, indicating these indirect sales represent a small portion of the overall reported equity exposure. There are no derivative holdings listed in this filing, so the visible position is entirely in common equity.

Insider Wang Yanjun
Role CCO and GC
Sold 2,000 shs ($185K)
Type Security Shares Price Value
Sale Class A ordinary shares 233 $90.41 $21K
Sale Class A ordinary shares 331 $91.76 $30K
Sale Class A ordinary shares 27 $92.55 $2K
Sale Class A ordinary shares 52 $94.00 $5K
Sale Class A ordinary shares 180 $94.66 $17K
Sale Class A ordinary shares 177 $95.65 $17K
Sale Class A ordinary shares 368 $91.98 $34K
Sale Class A ordinary shares 404 $92.40 $37K
Sale Class A ordinary shares 203 $93.83 $19K
Sale Class A ordinary shares 25 $94.48 $2K
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 47,967 shares (Indirect, By BVI entity); Class A ordinary shares — 1,162,442 shares (Direct, null)
Footnotes (1)
  1. The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person on March 26, 2026. Represents the weighted average price of shares sold at prices that ranged from $91.28 to $92.24. 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 $92.28 to $93.24. Represents the weighted average price of shares sold at prices that ranged from $93.28 to $94.25. Represents the weighted average price of shares sold at prices that ranged from $94.29 to $94.84. Represents the weighted average price of shares sold at prices that ranged from $90.30 to $91.28. Represents the weighted average price of shares sold at prices that ranged from $91.34 to $92.25. Represents the weighted average price of shares sold at prices that ranged from $92.30 to $92.86. Represents the weighted average price of shares sold at prices that ranged from $93.47 to $94.298. Represents the weighted average price of shares sold at prices that ranged from $94.30 to $95.29. Represents the weighted average price of shares sold at prices that ranged from $95.33 to $96.03.
Shares sold 2,000 Class A ordinary shares Open-market sales on June 29–30, 2026
Sale price range $90.41–$95.65 per share Individual reported transaction prices
Direct holdings 1,162,442 Class A ordinary shares Held directly as of June 29, 2026
Trading plan adoption date March 26, 2026 Rule 10b5-1 plan for BVI entity
Sell transactions count 10 sale transactions Non-derivative sales summarized in Form 4
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" in each non-derivative transaction entry"
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.
weighted average price financial
"Represents the weighted average price of shares sold at prices that ranged from $91.28 to $92.24."
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" with code S for non-derivative transactions"
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
"direct_or_indirect: "I" and nature_of_ownership: "By BVI entity" for the sales"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
X
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*
Wang Yanjun
(Last)(First)(Middle)
C/O 1 FUSIONOPOLIS PLACE,
#17-10, GALAXIS
(Street)
SINGAPORE138522
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
CCO and GC
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A ordinary shares06/29/2026S368(1)D$91.98(2)48,832IBy BVI entity
Class A ordinary shares06/29/2026S404(1)D$92.4(3)48,428IBy BVI entity
Class A ordinary shares06/29/2026S203(1)D$93.83(4)48,225IBy BVI entity
Class A ordinary shares06/29/2026S25(1)D$94.48(5)48,200IBy BVI entity
Class A ordinary shares06/30/2026S233(1)D$90.41(6)47,967IBy BVI entity
Class A ordinary shares06/30/2026S331(1)D$91.76(7)47,636IBy BVI entity
Class A ordinary shares06/30/2026S27(1)D$92.55(8)47,609IBy BVI entity
Class A ordinary shares06/30/2026S52(1)D$94(9)47,557IBy BVI entity
Class A ordinary shares06/30/2026S180(1)D$94.66(10)47,377IBy BVI entity
Class A ordinary shares06/30/2026S177(1)D$95.65(11)47,200IBy BVI entity
Class A ordinary shares1,162,442D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
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 March 26, 2026.
2. Represents the weighted average price of shares sold at prices that ranged from $91.28 to $92.24. 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 $92.28 to $93.24.
4. Represents the weighted average price of shares sold at prices that ranged from $93.28 to $94.25.
5. Represents the weighted average price of shares sold at prices that ranged from $94.29 to $94.84.
6. Represents the weighted average price of shares sold at prices that ranged from $90.30 to $91.28.
7. Represents the weighted average price of shares sold at prices that ranged from $91.34 to $92.25.
8. Represents the weighted average price of shares sold at prices that ranged from $92.30 to $92.86.
9. Represents the weighted average price of shares sold at prices that ranged from $93.47 to $94.298.
10. Represents the weighted average price of shares sold at prices that ranged from $94.30 to $95.29.
11. Represents the weighted average price of shares sold at prices that ranged from $95.33 to $96.03.
/s/ Emily Tan, attorney-in-fact for Yanjun Wang07/01/2026
** Signature of Reporting PersonDate
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 Wang Yanjun?

Sea Ltd reported that a BVI entity controlled by CCO and GC Wang Yanjun sold 2,000 Class A ordinary shares in open-market transactions on June 29–30, 2026, according to a Form 4 insider filing.

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

The filing shows sales totaling 2,000 Class A ordinary shares. Individual transactions occurred at prices from about $90.41 to $95.65 per share, with several trades grouped and reported using weighted average prices across specified price ranges.

Were the Sea Ltd (SE) insider sales by Wang Yanjun pre-planned?

Yes. The footnotes state the shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Wang Yanjun on March 26, 2026, meaning the trades were scheduled in advance rather than made on a discretionary basis.

Who actually held the Sea Ltd (SE) shares sold in this Form 4?

The sold shares were held indirectly through a BVI entity described in the filing as being controlled by Wang Yanjun. The transactions are reported as indirect ownership, with the nature of ownership noted as “By BVI entity.”

How many Sea Ltd (SE) shares does Wang Yanjun hold directly after these trades?

A holding entry in the Form 4 shows 1,162,442 Class A ordinary shares held directly as of June 29, 2026. This provides context that the 2,000 shares sold indirectly represent a relatively small portion of the total reported holdings.

Does the Sea Ltd (SE) Form 4 show any option exercises or derivatives for Wang Yanjun?

No. The derivative section of the filing is empty, and the transaction summary reports zero derivative exercises or derivative transactions. All reported activity relates to non-derivative Class A ordinary shares.