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[Form 4] Sea Ltd Insider Trading Activity

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 indirect open-market sales of 2,000 Class A ordinary shares of Sea. The trades were executed on June 25–26, 2026 by a BVI entity controlled by him under a Rule 10b5-1 trading plan adopted on March 26, 2026.

The shares were sold in multiple small blocks at prices generally in the high $80s to low $90s per share, with reported weighted average prices such as $91.23, $90.49, and $89.78. Following these sales, the filing shows 49,200 shares held indirectly and 1,162,442 shares held directly, indicating that only a small portion of his overall position was sold in these pre-planned transactions.

Positive

  • None.

Negative

  • None.

Insights

Pre-planned, small-scale insider sales via a Rule 10b5-1 plan look routine.

Sea Ltd executive Wang Yanjun disclosed that a BVI entity he controls sold 2,000 Class A shares in open-market trades. All sales occurred on June 25–26, 2026 under a Rule 10b5-1 trading plan adopted on March 26, 2026, indicating the timing was pre-arranged.

Sale prices ranged from about $86.12 to $92.09 per share, with weighted-average prices such as $91.23 and $90.49. After these trades, reported holdings remain large at 1,162,442 shares directly and 49,200 shares indirectly. Given the small size relative to his overall stake and the 10b5-1 structure, this looks like routine portfolio diversification rather than a thesis-changing move.

Insider Wang Yanjun
Role CCO and GC
Sold 2,000 shs ($180K)
Type Security Shares Price Value
Sale Class A ordinary shares 9 $86.34 $777.06
Sale Class A ordinary shares 126 $87.82 $11K
Sale Class A ordinary shares 54 $88.41 $5K
Sale Class A ordinary shares 487 $89.78 $44K
Sale Class A ordinary shares 318 $90.49 $29K
Sale Class A ordinary shares 6 $91.23 $547.38
Sale Class A ordinary shares 72 $88.50 $6K
Sale Class A ordinary shares 371 $89.49 $33K
Sale Class A ordinary shares 289 $90.53 $26K
Sale Class A ordinary shares 268 $91.37 $24K
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 50,191 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 $88.12 to $88.83. 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 $89.17 to $90.08. Represents the weighted average price of shares sold at prices that ranged from $90.14 to $91.11. Represents the weighted average price of shares sold at prices that ranged from $91.14 to $92.09. Represents the weighted average price of shares sold at prices that ranged from $86.12 to $86.77. Represents the weighted average price of shares sold at prices that ranged from $87.29 to $88.11. Represents the weighted average price of shares sold at prices that ranged from $88.15 to $88.88. Represents the weighted average price of shares sold at prices that ranged from $89.16 to $90.11. Represents the weighted average price of shares sold at prices that ranged from $90.13 to $90.93. Represents the weighted average price of shares sold at prices that ranged from $91.19 to $91.27.
Shares sold 2,000 shares Net open-market sales on June 25–26, 2026
Sale price range $86.12–$92.09 per share Price ranges from transaction footnotes
Post-sale indirect holdings 49,200 shares Indirect Class A shares held via BVI entity
Direct holdings 1,162,442 shares Direct Class A shares as of June 25, 2026
Example sale price $91.23 per share One reported weighted-average sale price on June 26, 2026
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.
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.
indirect ownership financial
"direct_or_indirect": "I", "nature_of_ownership": "By BVI entity""
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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)
06/25/2026		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 shares06/25/2026S72(1)D$88.5(2)51,128IBy BVI entity
Class A ordinary shares06/25/2026S371(1)D$89.49(3)50,757IBy BVI entity
Class A ordinary shares06/25/2026S289(1)D$90.53(4)50,468IBy BVI entity
Class A ordinary shares06/25/2026S268(1)D$91.37(5)50,200IBy BVI entity
Class A ordinary shares06/26/2026S9(1)D$86.34(6)50,191IBy BVI entity
Class A ordinary shares06/26/2026S126(1)D$87.82(7)50,065IBy BVI entity
Class A ordinary shares06/26/2026S54(1)D$88.41(8)50,011IBy BVI entity
Class A ordinary shares06/26/2026S487(1)D$89.78(9)49,524IBy BVI entity
Class A ordinary shares06/26/2026S318(1)D$90.49(10)49,206IBy BVI entity
Class A ordinary shares06/26/2026S6(1)D$91.23(11)49,200IBy 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 $88.12 to $88.83. 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 $89.17 to $90.08.
4. Represents the weighted average price of shares sold at prices that ranged from $90.14 to $91.11.
5. Represents the weighted average price of shares sold at prices that ranged from $91.14 to $92.09.
6. Represents the weighted average price of shares sold at prices that ranged from $86.12 to $86.77.
7. Represents the weighted average price of shares sold at prices that ranged from $87.29 to $88.11.
8. Represents the weighted average price of shares sold at prices that ranged from $88.15 to $88.88.
9. Represents the weighted average price of shares sold at prices that ranged from $89.16 to $90.11.
10. Represents the weighted average price of shares sold at prices that ranged from $90.13 to $90.93.
11. Represents the weighted average price of shares sold at prices that ranged from $91.19 to $91.27.
/s/ Emily Tan, attorney-in-fact for Yanjun Wang06/29/2026
** 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