Were Wang Yanjun’s Sea Ltd (SE) share sales pre-planned?

Yes. The filing states the shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Wang on September 4, 2025, indicating the sales were pre-arranged rather than discretionary market-timing decisions.

Sea (NYSE: SE) CCO’s BVI entity sells 1,600 shares under 10b5-1 plan

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd chief corporate officer and general counsel Wang Yanjun, through a BVI entity he controls, reported open-market sales of a total of 1,600 Class A ordinary shares on June 4 and 5, 2026. The shares were sold at prices in the high-$80s to low-$90s per share under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, the BVI entity held 3,600 Class A shares indirectly, while Wang also held 1,212,442 Class A shares directly.

Insider Trade Summary 10b5-1

Net Seller: 1,600 shares ($143,301)

Net Sell 9 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($143K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	500	$86.31	$43K
Sale	Class A ordinary shares	60	$87.45	$5K
Sale	Class A ordinary shares	156	$88.45	$14K
Sale	Class A ordinary shares	42	$89.37	$4K
Sale	Class A ordinary shares	42	$90.54	$4K
Sale	Class A ordinary shares	288	$91.42	$26K
Sale	Class A ordinary shares	492	$92.19	$45K
Sale	Class A ordinary shares	20	$92.93	$2K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 3,900 shares (Indirect, By BVI entity); Class A ordinary shares — 1,212,442 shares (Direct, null)

Footnotes (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 $90.74 to $91.73. 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 $91.75 to $92.70. Represents the weighted average price of shares sold at prices that ranged from $92.74 to $93.27. Represents the weighted average price of shares sold at prices that ranged from $86.08 to $87.05. Represents the weighted average price of shares sold at prices that ranged from $87.16 to $88.03. Represents the weighted average price of shares sold at prices that ranged from $88.10 to $89.06. Represents the weighted average price of shares sold at prices that ranged from $89.08 to $89.82. Represents the weighted average price of shares sold at prices that ranged from $90.36 to $90.72.

Key Figures

Shares sold: 1,600 shares Sample sale price: $92.93 per share Lowest reported sale price: $86.31 per share +3 more

6 metrics

Shares sold 1,600 shares Total Class A ordinary shares sold June 4–5, 2026

Sample sale price $92.93 per share Open-market sale price on June 4, 2026

Lowest reported sale price $86.31 per share Open-market sale price on June 5, 2026

Indirect holdings after trades 3,600 shares Class A ordinary shares held by BVI entity after June 5, 2026

Direct holdings 1,212,442 shares Class A ordinary shares held directly as of June 4, 2026

Net share change -1,600 shares Net result of reported insider buy/sell activity

Key Terms

Rule 10b5-1 trading plan, Class A ordinary shares, weighted average price, open-market sale, +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 controlled by the Reporting Person"

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 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 $90.74 to $91.73"

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.

BVI entity regulatory

"The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person"

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Form 4 Insider Transactions: What Each Field Means →

06/08/2026 - 06:13 AM

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)
06/04/2026

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	06/04/2026		S		288⁽¹⁾	D	$91.42⁽²⁾	4,912	I	By BVI entity
Class A ordinary shares	06/04/2026		S		492⁽¹⁾	D	$92.19⁽³⁾	4,420	I	By BVI entity
Class A ordinary shares	06/04/2026		S		20⁽¹⁾	D	$92.93⁽⁴⁾	4,400	I	By BVI entity
Class A ordinary shares	06/05/2026		S		500⁽¹⁾	D	$86.31⁽⁵⁾	3,900	I	By BVI entity
Class A ordinary shares	06/05/2026		S		60⁽¹⁾	D	$87.45⁽⁶⁾	3,840	I	By BVI entity
Class A ordinary shares	06/05/2026		S		156⁽¹⁾	D	$88.45⁽⁷⁾	3,684	I	By BVI entity
Class A ordinary shares	06/05/2026		S		42⁽¹⁾	D	$89.37⁽⁸⁾	3,642	I	By BVI entity
Class A ordinary shares	06/05/2026		S		42⁽¹⁾	D	$90.54⁽⁹⁾	3,600	I	By BVI entity
Class A ordinary shares								1,212,442	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 $90.74 to $91.73. 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 $91.75 to $92.70.

4. Represents the weighted average price of shares sold at prices that ranged from $92.74 to $93.27.

5. Represents the weighted average price of shares sold at prices that ranged from $86.08 to $87.05.

6. Represents the weighted average price of shares sold at prices that ranged from $87.16 to $88.03.

7. Represents the weighted average price of shares sold at prices that ranged from $88.10 to $89.06.

8. Represents the weighted average price of shares sold at prices that ranged from $89.08 to $89.82.

9. Represents the weighted average price of shares sold at prices that ranged from $90.36 to $90.72.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	06/08/2026
	** 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

FAQ

What insider trades did Sea Ltd (SE) report for Wang Yanjun?

Sea Ltd reported that a BVI entity controlled by CCO and GC Wang Yanjun sold a total of 1,600 Class A ordinary shares in open-market transactions on June 4 and 5, 2026, at prices in the high-$80s to low-$90s per share.

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

The BVI entity controlled by Wang sold 1,600 Sea Ltd Class A ordinary shares in multiple trades. Reported transaction prices include specific executions such as $92.93, $92.19, $91.42, $90.54, $89.37, $88.45, $87.45 and $86.31 per share, plus weighted-average ranges noted in footnotes.

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

After the reported trades, the BVI entity held 3,600 Class A ordinary shares indirectly. Separately, Wang held 1,212,442 Class A ordinary shares directly as of June 4, 2026, according to the holding entry included in the same Form 4 filing.

How significant are the recent Sea Ltd (SE) insider sales by the BVI entity?

The BVI entity’s sale of 1,600 Class A shares is small compared with Wang’s reported direct holding of 1,212,442 shares. The trades were also executed under a Rule 10b5-1 plan, which typically reflects a structured selling program rather than opportunistic market timing.

What type of Sea Ltd (SE) security did the insider transactions involve?

All reported transactions involved Sea Ltd Class A ordinary shares on a non-derivative basis. There were no derivative exercises or conversions disclosed, and the derivative position summary in the filing shows no remaining derivative securities associated with these trades.