Sea CEO Li sells 5,164 shares at $120.43

Rhea-AI Filing Summary

Sea Ltd (SE) director and CEO Li Xiaodong, through a BVI entity he controls, reported selling 5,164 Class A ordinary shares on 2026-08-28 at a weighted average price of $120.43 per share under a Rule 10b5-1 trading plan. Following this indirectly held sale, he reported 1,227,828 Class A shares indirectly owned.

Insider Trade Summary 10b5-1

Net Seller: 5,164 shares

Net Sell 1 txn

Insider Li Xiaodong

Role Chairman and CEO

Sold 5,164 shs ($622K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares F1, F2	5,164	$120.43	$622K

Holdings After Transaction: Class A ordinary shares — 1,227,828 shares (Indirect, By BVI entity)

Footnotes (2)

1. 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 10, 2025.
2. F2. Represents the weighted average price of shares sold at prices that ranged from $120.02 to $120.77. 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.

Key Figures

Shares sold: 5,164 Class A ordinary shares Weighted average sale price: $120.43 per share Shares owned after transaction: 1,227,828 Class A ordinary shares +2 more

5 metrics

Shares sold 5,164 Class A ordinary shares Non-derivative sale on 2026-08-28 by BVI entity controlled by Li Xiaodong

Weighted average sale price $120.43 per share Prices for the 2026-08-28 sale ranged from $120.02 to $120.77

Shares owned after transaction 1,227,828 Class A ordinary shares Indirect ownership reported following the 5,164-share sale

Rule 10b5-1 plan adoption date September 10, 2025 Trading plan adopted by BVI entity controlled by the reporting person

Price range for shares sold $120.02 to $120.77 per share Range of prices for the shares included in the weighted average

Key Terms

Rule 10b5-1 trading plan, beneficially own, pecuniary interest, 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"

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.

beneficially own regulatory

"securities that the Reporting Person may be deemed to beneficially own"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

pecuniary interest financial

"does not include Class A ordinary shares over which the Reporting Person has no pecuniary interest"

weighted average price financial

"Represents the weighted average price of shares sold at prices that ranged"

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.

indirect ownership financial

"total_shares_following_transaction ... direct_or_indirect: "I""

FAQ

What did Sea Ltd (SE) insider Li Xiaodong report in this Form 4?

He reported that a BVI entity he controls sold 5,164 Class A ordinary shares of Sea Ltd on 2026-08-28 at a weighted average price of $120.43 per share, and that his indirect holdings after the sale were 1,227,828 shares.

At what price were the Sea Ltd (SE) shares sold in this transaction?

The filing reports a weighted average price of $120.43 per share, with individual sale prices ranging from $120.02 to $120.77. The insider undertook to provide full information on the shares sold at each separate price upon request.

How many Sea Ltd (SE) shares does Li Xiaodong hold after this reported sale?

After the reported transaction, Li Xiaodong reported 1,227,828 Class A ordinary shares of Sea Ltd held indirectly by a BVI entity he controls. This figure reflects holdings following the 5,164-share sale on 2026-08-28.

Was the Sea Ltd (SE) insider sale made under a Rule 10b5-1 trading plan?

Yes. The shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Li Xiaodong on September 10, 2025, as disclosed in the transaction footnote and affirmed by the filing’s Rule 10b5-1 checkbox.

Are the reported Sea Ltd (SE) shares held directly by Li Xiaodong?

No. The Form 4 states the Class A ordinary shares are held indirectly, with ownership described as “By BVI entity.” The report covers only securities he may be deemed to beneficially own, based on Rule 16a-1.

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Available on EDGAR 09/01/2026 - 06:08 AM Accepted by SEC EDGAR 09/01/2026 - 06:03 AM Learn about SEC filing dates

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).

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^*

Li Xiaodong

(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)
	Chairman and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A ordinary shares	08/28/2026		S		5,164(1)	D	$120.43(2)	1,227,828	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount 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 September 10, 2025.

2. Represents the weighted average price of shares sold at prices that ranged from $120.02 to $120.77. 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.

Remarks:

This Report includes only the securities that the Reporting Person may be deemed to beneficially own in accordance with Rule 16a-1. This report does not include Class A ordinary shares over which the Reporting Person has no pecuniary interest but has voting power due to irrevocable voting proxies from the respective owners of such shares (including certain directors and employees of the Issuer, certain affiliates of employees of the Issuer, and Garena ESOP Program (PTC) Limited).

	/s/ Mark Tang, attorney-in-fact for Xiaodong Li	09/01/2026
	** 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)