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Sea Ltd (NYSE: SE) CCO-linked BVI entity sells 1,600 Class A shares under 10b5-1 plan

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

Rhea-AI Filing Summary

Sea Ltd chief corporate officer and general counsel Wang Yanjun reported small open-market sales of Class A ordinary shares through a BVI entity he controls. The entity sold a total of 1,600 shares on May 14–15, 2026 at prices ranging from about $87.52 to $92.59 per share under a pre-arranged Rule 10b5-1 trading plan. After these sales, the filing shows indirect holdings of 14,800 shares and direct ownership of 1,212,442 shares.

Positive

  • None.

Negative

  • None.
Insider Wang Yanjun
Role CCO and GC
Sold 1,600 shs ($142K)
Type Security Shares Price Value
Sale Class A ordinary shares 593 $88.25 $52K
Sale Class A ordinary shares 174 $89.43 $16K
Sale Class A ordinary shares 33 $90.00 $3K
Sale Class A ordinary shares 300 $88.07 $26K
Sale Class A ordinary shares 213 $89.05 $19K
Sale Class A ordinary shares 236 $89.99 $21K
Sale Class A ordinary shares 17 $90.60 $2K
Sale Class A ordinary shares 21 $92.35 $2K
Sale Class A ordinary shares 13 $92.59 $1K
holding Class A ordinary shares -- -- --
Holdings After Transaction: Class A ordinary shares — 15,007 shares (Indirect, By BVI entity); Class A ordinary shares — 1,212,442 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 September 4, 2025. Represents the weighted average price of shares sold at prices that ranged from $87.52 to $88.51. 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 $88.52 to $89.51. Represents the weighted average price of shares sold at prices that ranged from $89.52 to $90.52. Represents the weighted average price of shares sold at prices that ranged from $90.54 to $90.64. Represents the weighted average price of shares sold at prices that ranged from $87.92 to $88.91. Represents the weighted average price of shares sold at prices that ranged from $88.93 to $89.89. Represents the weighted average price of shares sold at prices that ranged from $89.92 to $90.10.
Shares sold 1,600 shares Net open-market sales on May 14–15, 2026
Sale price (example) $90.00/share One May 15, 2026 open-market sale
Price range $87.52–$92.59 Weighted average price ranges disclosed in footnotes
Direct holdings 1,212,442 shares Direct Class A ordinary shares as of May 14, 2026
Indirect holdings 14,800 shares Indirect Class A ordinary shares after May 15, 2026 sales
Net buy/sell direction Net sell of 1,600 shares Form 4 transaction summary
Rule 10b5-1 trading plan financial
"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" for each reported 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.
weighted average price financial
"Represents the weighted average price of shares sold at prices that ranged from $87.52 to $88.51"
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" indicating indirect ownership"
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)
SINGAPORESINGAPORE138522
(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)
05/14/2026		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 shares05/14/2026S300(1)D$88.07(2)16,100IBy BVI entity
Class A ordinary shares05/14/2026S213(1)D$89.05(3)15,887IBy BVI entity
Class A ordinary shares05/14/2026S236(1)D$89.99(4)15,651IBy BVI entity
Class A ordinary shares05/14/2026S17(1)D$90.6(5)15,634IBy BVI entity
Class A ordinary shares05/14/2026S21(1)D$92.3515,613IBy BVI entity
Class A ordinary shares05/14/2026S13(1)D$92.5915,600IBy BVI entity
Class A ordinary shares05/15/2026S593(1)D$88.25(6)15,007IBy BVI entity
Class A ordinary shares05/15/2026S174(1)D$89.43(7)14,833IBy BVI entity
Class A ordinary shares05/15/2026S33(1)D$90(8)14,800IBy BVI entity
Class A ordinary shares1,212,442D
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 September 4, 2025.
2. Represents the weighted average price of shares sold at prices that ranged from $87.52 to $88.51. 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 $88.52 to $89.51.
4. Represents the weighted average price of shares sold at prices that ranged from $89.52 to $90.52.
5. Represents the weighted average price of shares sold at prices that ranged from $90.54 to $90.64.
6. Represents the weighted average price of shares sold at prices that ranged from $87.92 to $88.91.
7. Represents the weighted average price of shares sold at prices that ranged from $88.93 to $89.89.
8. Represents the weighted average price of shares sold at prices that ranged from $89.92 to $90.10.
/s/ Emily Tan, attorney-in-fact for Yanjun Wang05/18/2026
** 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) disclose for Wang Yanjun?

Sea Ltd disclosed that a BVI entity controlled by CCO and GC Wang Yanjun sold 1,600 Class A ordinary shares. The transactions were reported as open-market sales across May 14–15, 2026, at various prices around the high $80s to low $90s per share.

At what prices were Sea Ltd (SE) shares sold in this Form 4?

The reported sales of Sea Ltd Class A ordinary shares occurred at prices ranging from $87.52 to $92.59. Individual line items show specific prices such as $88.25, $89.43 and $92.59, with several trades summarized using weighted average price disclosures.

How many Sea Ltd (SE) shares did the insider-associated entity sell?

The BVI entity associated with Wang Yanjun sold a total of 1,600 Class A ordinary shares of Sea Ltd. The Form 4 transaction summary aggregates nine sale entries to this amount, reflecting a net-sell position of 1,600 shares across the two trading days reported.

Were the Sea Ltd (SE) insider sales under a Rule 10b5-1 plan?

Yes. A footnote states the shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the reporting person on September 4, 2025. Such plans pre-schedule trades, suggesting the timing was predetermined rather than discretionary.

What are Wang Yanjun’s holdings in Sea Ltd (SE) after these transactions?

After the reported trades, the filing shows direct ownership of 1,212,442 Class A ordinary shares as of May 14, 2026. It also shows indirect ownership of 14,800 shares held through a BVI entity, reflecting the position following the May 15, 2026 sales.

How significant are these Sea Ltd (SE) insider sales relative to holdings?

The reported 1,600-share sale is small compared with the reported holdings. The filing shows 1,212,442 shares held directly plus 14,800 shares held indirectly after the sales, indicating that only a minor portion of the overall reported position was transacted in this period.