Sea Garena chief sells 2,000 shares at ~$120

Rhea-AI Filing Summary

Sea Ltd (SE) reported that Zhao Feng, President of Garena, had an affiliated BVI entity sell 2,000 Class A ordinary shares on August 17, 2026 in an open-market or private transaction at a weighted average price of $120.16 per share, with individual sale prices ranging from $120.15 to $120.26. The sale was made pursuant to a Rule 10b5-1 trading plan adopted by this BVI entity on December 26, 2025. Following this transaction, the BVI entity associated with Zhao Feng held 140,000 Class A shares indirectly, and Zhao Feng also reported 1,690,128 Class A shares held directly.

Insider Trade Summary 10b5-1

Net Seller: 2,000 shares

Net Sell 2 txns

Insider Zhao Feng

Role President of Garena

Sold 2,000 shs ($240K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares F1, F2	2,000	$120.16	$240K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 140,000 shares (Indirect, By BVI entity); Class A ordinary shares — 1,690,128 shares (Direct)

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 December 26, 2025.
2. F2. Represents the weighted average price of shares sold at prices that ranged from $120.15 to $120.26. 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: 2,000 Class A ordinary shares Weighted average sale price: $120.16 per share Sale price range: $120.15 to $120.26 +4 more

7 metrics

Shares sold 2,000 Class A ordinary shares Sold on August 17, 2026 by a BVI entity controlled by Zhao Feng

Weighted average sale price $120.16 per share Weighted average price for shares sold in the August 17, 2026 transaction

Sale price range $120.15 to $120.26 Price range of individual trades included in the reported weighted average

Indirect holdings after transaction 140,000 Class A ordinary shares Indirectly held through a BVI entity following the August 17, 2026 sale

Direct holdings after transaction 1,690,128 Class A ordinary shares Directly held by Zhao Feng as of the reporting date

Rule 10b5-1 plan adoption date December 26, 2025 Adoption date of the BVI entity’s Rule 10b5-1 trading plan used for this sale

Net shares sold in filing 2,000 shares Net sell volume across reported non-derivative transactions

Key Terms

Rule 10b5-1 trading plan, weighted average price, BVI entity, indirect ownership

4 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.

weighted average price financial

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

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.

BVI entity financial

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

indirect ownership financial

"direct_or_indirect": "I","nature_of_ownership": "By BVI entity"

FAQ

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

What insider transaction did Zhao Feng report for Sea Ltd (SE)?

Zhao Feng reported that a BVI entity he controls sold 2,000 Class A ordinary shares of Sea Ltd on August 17, 2026. The transaction was reported as a sale in an open-market or private transaction under a pre-established trading plan.

At what price were the Sea Ltd (SE) shares sold in Zhao Feng’s recent Form 4?

The reported sale used a weighted average price of $120.16 per share, with actual sale prices ranging from $120.15 to $120.26. Zhao Feng undertook to provide detailed per-trade pricing information to the SEC, the issuer, or any security holder upon request.

How many Sea Ltd (SE) shares does Zhao Feng hold after this reported sale?

After the transaction, Zhao Feng reported 140,000 Class A shares held indirectly through a BVI entity and 1,690,128 Class A shares held directly. These figures reflect holdings following the August 17, 2026 sale of 2,000 shares by the BVI entity.

Was Zhao Feng’s Sea Ltd (SE) share sale under a Rule 10b5-1 plan?

Yes. The filing states the 2,000-share sale was made pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Zhao Feng on December 26, 2025. Such plans prearrange trades according to preset instructions.

Were the sold Sea Ltd (SE) shares held directly by Zhao Feng?

No. The 2,000 shares were sold by a BVI entity controlled by Zhao Feng and are reported as indirect ownership. The Form 4 separately shows Zhao Feng’s direct holding of 1,690,128 Class A ordinary shares after the transaction.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 08/19/2026 - 06:08 AM EDT Accepted by SEC EDGAR 08/19/2026 - 06:08 AM EDT 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^*

Zhao Feng

(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)
	President of Garena

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/17/2026

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	08/17/2026		S		2,000(1)	D	$120.16(2)	140,000	I	By BVI entity
Class A ordinary shares								1,690,128	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)
				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 December 26, 2025.

2. Represents the weighted average price of shares sold at prices that ranged from $120.15 to $120.26. 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.

	/s/ Emily Tan, attorney-in-fact for Feng Zhao	08/19/2026
	** 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)