Sea Ltd's Yanjun Wang exercises 300,000 options

Q: How many SE shares did the BVI entity controlled by Yanjun Wang sell, and at what prices?

The BVI entity controlled by Yanjun Wang sold 1,600 shares across four transactions on October 27 and October 28, 2026. On October 27, it sold 708 shares at a weighted-average price of $74.69 and 92 shares at $75.22; on October 28, it sold 524 shares at $74.47 and 276 shares at $75.12. The sales were under a Rule 10b5-1 trading plan adopted March 26, 2026.

Q: When do Yanjun Wang’s remaining SE options expire?

The 600,000 options reported after the October 27, 2026 exercise expire February 28, 2028. The options were granted February 28, 2018 and were fully exercisable.

The transactions combine a 300,000-share option exercise by Sea Ltd’s CCO and GC with sales under a trading plan by an entity he controls.

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Rhea-AI Filing Summary

Sea Ltd (SE) reported that a BVI entity controlled by its CCO and GC, Yanjun Wang, sold 1,600 Class A ordinary shares on October 27 and October 28, 2026, under a Rule 10b5-1 trading plan adopted March 26, 2026. Separately, Yanjun Wang exercised options for 300,000 shares at $15 per share on October 27; he directly held 1,333,642 Class A ordinary shares afterward. The reported option balance after exercise was 600,000, expiring February 28, 2028.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 6 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($120K)

Approx. gross sale proceeds $120K

Approx. exercise cost $4.50M

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares ^{F1, F4}	524	$74.47	$39K
Sale	Class A ordinary shares ^{F1, F5}	276	$75.12	$21K
In-the-Money Exercise	Share options (right to buy) ^F6	300,000	$0.00	$0.00
In-the-Money Exercise	Class A ordinary shares	300,000	$15.00	$4.50M
Sale	Class A ordinary shares ^{F1, F2}	708	$74.69	$53K
Sale	Class A ordinary shares ^{F1, F3}	92	$75.22	$7K

Holdings After Transaction: Share options (right to buy) — 600,000 contracts (Direct); Class A ordinary shares — 1,333,642 shares (Direct); Class A ordinary shares — 71,180 shares (Indirect, By BVI entity)

Footnotes (6)

F1. 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.
F2. Represents the weighted average price of shares sold at prices that ranged from $74.02 to $75.00. 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.
F3. Represents the weighted average price of shares sold at prices that ranged from $75.02 to $75.51.
F4. Represents the weighted average price of shares sold at prices that ranged from $73.87 to $74.85.
F5. Represents the weighted average price of shares sold at prices that ranged from $74.87 to $75.49.
F6. The share options were granted on February 28, 2018 and are fully exercisable.

Key Figures

Shares sold by controlled BVI entity: 1,600 shares October 27 sale transactions: 708 shares at $74.69 per share; 92 shares at $75.22 per share October 28 sale transactions: 524 shares at $74.47 per share; 276 shares at $75.12 per share +4 more

7 metrics

Shares sold by controlled BVI entity 1,600 shares October 27 and October 28, 2026

October 27 sale transactions 708 shares at $74.69 per share; 92 shares at $75.22 per share Weighted-average prices

October 28 sale transactions 524 shares at $74.47 per share; 276 shares at $75.12 per share Weighted-average prices

Options exercised 300,000 options October 27, 2026

Option exercise price $15 per share October 27, 2026 exercise

Direct Class A ordinary shares held after exercise 1,333,642 shares After the October 27, 2026 transaction

Options reported after exercise 600,000 options Expiration date: February 28, 2028

Key Terms

Rule 10b5-1 trading plan, weighted average price, fully exercisable, Share options (right to buy)

4 terms

Rule 10b5-1 trading plan regulatory

"sold pursuant to a Rule 10b5-1 trading plan"

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"

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.

fully exercisable financial

"are fully exercisable"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many SE shares did the BVI entity controlled by Yanjun Wang sell, and at what prices?

The BVI entity controlled by Yanjun Wang sold 1,600 shares across four transactions on October 27 and October 28, 2026. On October 27, it sold 708 shares at a weighted-average price of $74.69 and 92 shares at $75.22; on October 28, it sold 524 shares at $74.47 and 276 shares at $75.12. The sales were under a Rule 10b5-1 trading plan adopted March 26, 2026.

When do Yanjun Wang’s remaining SE options expire?

The 600,000 options reported after the October 27, 2026 exercise expire February 28, 2028. The options were granted February 28, 2018 and were fully exercisable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/29/2026 - 06:04 AM EDT Accepted by SEC EDGAR 10/29/2026 - 06:03 AM EDT

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^*

Wang Yanjun

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CCO and GC

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2026

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	10/27/2026		X		300,000	A	$15	1,333,642	D
Class A ordinary shares	10/27/2026		S		708⁽¹⁾	D	$74.69⁽²⁾	72,072	I	By BVI entity
Class A ordinary shares	10/27/2026		S		92⁽¹⁾	D	$75.22⁽³⁾	71,980	I	By BVI entity
Class A ordinary shares	10/28/2026		S		524⁽¹⁾	D	$74.47⁽⁴⁾	71,456	I	By BVI entity
Class A ordinary shares	10/28/2026		S		276⁽¹⁾	D	$75.12⁽⁵⁾	71,180	I	By BVI entity

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)
Share options (right to buy)	$15	10/27/2026		X			300,000	⁽⁶⁾	02/28/2028	Class A ordinary shares	300,000	$0	600,000	D

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 $74.02 to $75.00. 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 $75.02 to $75.51.

4. Represents the weighted average price of shares sold at prices that ranged from $73.87 to $74.85.

5. Represents the weighted average price of shares sold at prices that ranged from $74.87 to $75.49.

6. The share options were granted on February 28, 2018 and are fully exercisable.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	10/29/2026
	** 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