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

Yes. The Form 4 states the shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Ye Gang. Such plans are pre-arranged, meaning the trades were scheduled in advance rather than decided at the time of execution.

Sea Ltd (NYSE: SE) COO-linked BVI entity sells 20,000 Class A shares

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd’s COO Ye Gang reported indirect open-market sales of 20,000 Class A ordinary shares linked to a BVI entity he controls. The BVI entity sold 10,000 shares on April 6, 2026 at a weighted average price of $82.68 per share, and 8,500 and 1,500 shares on April 7, 2026 at weighted average prices of $81.27 and $82.07 per share.

These sales were made under a pre-arranged Rule 10b5-1 trading plan, indicating they were scheduled in advance. After these transactions, the filing shows 380,000 Class A shares held indirectly through the BVI entity and 22,396,405 Class A shares held directly.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($1,640,700)

Net Sell 4 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.64M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	8,500	$81.27	$691K
Sale	Class A ordinary shares	1,500	$82.07	$123K
Sale	Class A ordinary shares	10,000	$82.68	$827K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 381,500 shares (Indirect, By BVI entity); Class A ordinary shares — 22,396,405 shares (Direct)

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 $82.35 to $83.31. 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 $80.95 to $81.82. Represents the weighted average price of shares sold at prices that ranged from $82.01 to $82.24.

Key Figures

Shares sold April 6, 2026: 10,000 shares at $82.68 Shares sold April 7, 2026 (block 1): 8,500 shares at $81.27 Shares sold April 7, 2026 (block 2): 1,500 shares at $82.07 +3 more

6 metrics

Shares sold April 6, 2026 10,000 shares at $82.68 Indirect open-market sale by BVI entity

Shares sold April 7, 2026 (block 1) 8,500 shares at $81.27 Indirect open-market sale by BVI entity

Shares sold April 7, 2026 (block 2) 1,500 shares at $82.07 Indirect open-market sale by BVI entity

Total shares sold 20,000 shares Net-sell across reported transactions

Indirect holdings after trades 380,000 shares Class A ordinary shares held via BVI entity

Direct holdings after trades 22,396,405 shares Class A ordinary shares held directly

Key Terms

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

4 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.

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.

Class A ordinary shares financial

"security_title: Class A ordinary shares"

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

"adopted by a BVI entity controlled by the Reporting Person"

Form 4 Insider Transactions: What Each Field Means →

04/08/2026 - 06:03 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^*

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)
04/06/2026

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	04/06/2026		S		10,000⁽¹⁾	D	$82.68⁽²⁾	390,000	I	By BVI entity
Class A ordinary shares	04/07/2026		S		8,500⁽¹⁾	D	$81.27⁽³⁾	381,500	I	By BVI entity
Class A ordinary shares	04/07/2026		S		1,500⁽¹⁾	D	$82.07⁽⁴⁾	380,000	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 $82.35 to $83.31. 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 $80.95 to $81.82.

4. Represents the weighted average price of shares sold at prices that ranged from $82.01 to $82.24.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	04/08/2026
	** 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 transaction did Sea Ltd (SE) report for Ye Gang?

Sea Ltd reported that a BVI entity controlled by COO Ye Gang sold 20,000 Class A ordinary shares. These were indirect open-market sales, spread across April 6–7, 2026, and disclosed in a Form 4 insider trading report filed with regulators.

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

The filing shows weighted average sale prices of $82.68, $81.27, and $82.07 per Class A share. Footnotes note these are averages across price ranges, and detailed breakdowns by exact price level are available on request from the reporting person.

How many Sea Ltd (SE) shares does Ye Gang hold after these transactions?

After the reported trades, the filing lists 380,000 Class A ordinary shares held indirectly through a BVI entity and 22,396,405 Class A ordinary shares held directly. This context shows the 20,000 shares sold represent a relatively small portion of the reported holdings.

Are the Sea Ltd (SE) insider sales direct or indirect holdings of Ye Gang?

The 20,000 Class A shares sold were held indirectly through a BVI entity, as indicated by the indirect ownership code and footnotes. The Form 4 separately shows a much larger block of 22,396,405 Class A ordinary shares held directly in Ye Gang’s name.