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

Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025 by a BVI entity controlled by Ye Gang. Such pre-arranged plans automate trading according to preset instructions rather than discretionary timing decisions.

Sea COO-linked entity sells 20K shares

Sea Ltd director and COO Ye Gang reported indirect open-market sales of 20,000 Class A ordinary shares over April 20–21 through a BVI entity he controls, under a Rule 10b5-1 trading plan adopted on September 4, 2025.

Filing Impact

(Very High)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

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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 over April 20–21 through a BVI entity he controls, under a Rule 10b5-1 trading plan adopted on September 4, 2025. Sale prices ranged from about $87.69 to $90.65 per share, with weighted average prices disclosed for each trade range. After these sales, the BVI entity held 280,000 shares indirectly, while a separate holding entry shows 22,396,405 Class A ordinary shares held directly as of April 20.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares

Net Sell 6 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.78M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	3,631	$87.69	$318K
Sale	Class A ordinary shares	4,317	$88.56	$382K
Sale	Class A ordinary shares	2,052	$89.33	$183K
Sale	Class A ordinary shares	7,185	$89.39	$642K
Sale	Class A ordinary shares	2,815	$90.00	$253K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 280,000 shares (Indirect, By BVI entity); Class A ordinary shares — 22,396,405 shares (Direct)

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 September 4, 2025.
F2. Represents the weighted average price of shares sold at prices that ranged from $88.69 to $89.686. 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 $89.69 to $90.65.
F4. Represents the weighted average price of shares sold at prices that ranged from $87.08 to $88.07.
F5. Represents the weighted average price of shares sold at prices that ranged from $88.08 to $89.07.
F6. Represents the weighted average price of shares sold at prices that ranged from $89.09 to $89.79.

Key Figures

Shares sold: 20,000 shares Sale prices: $87.69–$90.65 per share Indirect holdings after trades: 280,000 shares +3 more

6 metrics

Shares sold 20,000 shares Indirect open-market sales on April 20–21, 2026

Sale prices $87.69–$90.65 per share Weighted-average price ranges for reported trades

Indirect holdings after trades 280,000 shares Class A ordinary shares held by BVI entity after sales

Direct holdings entry 22,396,405 shares Class A ordinary shares held directly as of April 20, 2026

Single-day sale example 7,185 shares at $89.39 Indirect open-market sale on April 20, 2026

Another sale example 4,317 shares at $88.56 Indirect open-market sale on April 21, 2026

Key Terms

Rule 10b5-1 trading plan, Class A ordinary shares, BVI entity, weighted average price, +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"

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"

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.

BVI entity financial

"a BVI entity controlled by the Reporting Person and nature_of_ownership "By BVI entity""

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" for each non-derivative transaction"

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.

FAQ

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

What insider transactions did Sea Ltd (SE) report for Ye Gang in this Form 4?

Ye Gang reported indirect open-market sales of 20,000 Sea Ltd Class A ordinary shares through a BVI entity he controls. These sales occurred on April 20 and April 21 at weighted average prices between $87.69 and $90.65 per share, under a pre-adopted trading plan.

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

The BVI entity associated with Ye Gang sold a total of 20,000 Class A ordinary shares. Reported weighted average sale prices per share were $90.00, $89.39, $89.33, $88.56 and $87.69, with underlying individual trades occurring within stated ranges between $87.08 and $90.65.

What are Ye Gang’s Sea Ltd (SE) holdings after these reported transactions?

Following the reported sales, the BVI entity held 280,000 Class A ordinary shares indirectly for Ye Gang. A separate holding entry shows 22,396,405 Class A ordinary shares held directly as of April 20, providing context for the scale of the 20,000-share indirect disposition.

How large are the reported Sea Ltd (SE) sales relative to Ye Gang’s overall position?

The reported transactions cover 20,000 Class A ordinary shares sold indirectly through a BVI entity, compared with 280,000 Class A shares remaining at that entity and 22,396,405 shares shown as a direct holding. This indicates the disclosed sales represent a relatively small portion of visible holdings.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 04/22/2026 - 06:04 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^*

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)
04/20/2026

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	04/20/2026		S		7,185⁽¹⁾	D	$89.39⁽²⁾	292,815	I	By BVI entity
Class A ordinary shares	04/20/2026		S		2,815⁽¹⁾	D	$90⁽³⁾	290,000	I	By BVI entity
Class A ordinary shares	04/21/2026		S		3,631⁽¹⁾	D	$87.69⁽⁴⁾	286,369	I	By BVI entity
Class A ordinary shares	04/21/2026		S		4,317⁽¹⁾	D	$88.56⁽⁵⁾	282,052	I	By BVI entity
Class A ordinary shares	04/21/2026		S		2,052⁽¹⁾	D	$89.33⁽⁶⁾	280,000	I	By BVI entity
Class A ordinary shares								22,396,405	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 $88.69 to $89.686. 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 $89.69 to $90.65.

4. Represents the weighted average price of shares sold at prices that ranged from $87.08 to $88.07.

5. Represents the weighted average price of shares sold at prices that ranged from $88.08 to $89.07.

6. Represents the weighted average price of shares sold at prices that ranged from $89.09 to $89.79.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	04/22/2026
	** 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