Were Wang Yanjun’s Sea (SE) share sales under a Rule 10b5-1 plan?

Yes. The filing states that the shares were sold under a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Wang Yanjun on September 4, 2025. Such plans pre-schedule trades, making the timing more routine and less discretionary.

Sea CCO’s BVI entity sells 1,600 shares

Sea Ltd’s Chief Corporate Officer and General Counsel, Wang Yanjun, reported open-market sales of Class A ordinary shares executed by a BVI entity he controls.

Filing Impact

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Sea Ltd’s Chief Corporate Officer and General Counsel, Wang Yanjun, reported open-market sales of Class A ordinary shares executed by a BVI entity he controls. The Rule 10b5-1 trading plan was adopted on September 4, 2025.

Across April 28–29, 2026, the BVI entity sold 1,600 Class A shares at weighted-average prices ranging from about $81.93 to $86.72. After these transactions, it held 14,000 Class A shares indirectly, while a separate entry shows 1,222,842 Class A shares held directly as of April 28, 2026.

Insider Trade Summary 10b5-1

Net Seller: 1,600 shares

Net Sell 9 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($135K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	185	$82.48	$15K
Sale	Class A ordinary shares	522	$83.29	$43K
Sale	Class A ordinary shares	41	$84.42	$3K
Sale	Class A ordinary shares	43	$85.54	$4K
Sale	Class A ordinary shares	9	$86.00	$774.00
Sale	Class A ordinary shares	380	$85.04	$32K
Sale	Class A ordinary shares	220	$85.92	$19K
Sale	Class A ordinary shares	200	$86.71	$17K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 14,000 shares (Indirect, By BVI entity); Class A ordinary shares — 1,222,842 shares (Direct)

Footnotes (8)

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 4, 2025.
F2. Represents the weighted average price of shares sold at prices that ranged from $84.46 to $85.44. 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.
F3. Represents the weighted average price of shares sold at prices that ranged from $85.49 to $86.12.
F4. Represents the weighted average price of shares sold at prices that ranged from $86.70 to $86.72.
F5. Represents the weighted average price of shares sold at prices that ranged from $81.93 to $82.92.
F6. Represents the weighted average price of shares sold at prices that ranged from $82.95 to $83.93.
F7. Represents the weighted average price of shares sold at prices that ranged from $83.95 to $84.68.
F8. Represents the weighted average price of shares sold at prices that ranged from $85.03 to $85.89.

Key Figures

Shares sold: 1,600 shares Sale price range: $81.93–$86.72 per share Indirect holdings after sales: 14,000 shares +2 more

5 metrics

Shares sold 1,600 shares Net open-market sales on April 28–29, 2026

Sale price range $81.93–$86.72 per share Weighted-average price ranges from footnotes F4–F8, F5–F7, F2–F3

Indirect holdings after sales 14,000 shares Class A ordinary shares held by BVI entity after reported sales

Direct holdings as of April 28, 2026 1,222,842 shares Class A ordinary shares held directly in a holding entry

Largest single-trade price $86.71 per share Example transaction price on April 28, 2026

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..."

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""

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..."

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""

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 other

"a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person"

FAQ

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

What insider transaction did Sea (SE) disclose for Wang Yanjun?

Sea disclosed that a BVI entity controlled by CCO and GC Wang Yanjun sold 1,600 Class A ordinary shares in open-market transactions. These trades occurred over April 28–29, 2026, under a pre-arranged Rule 10b5-1 trading plan adopted in September 2025.

How many Sea (SE) shares were sold and at what prices?

The BVI entity associated with Wang Yanjun sold 1,600 Class A ordinary shares. Weighted-average sale prices ranged from about $81.93 to $86.72 per share, with specific trades reported at transaction prices such as $86.71, $85.92, $85.04, $84.42, $83.29 and $82.48.

How many Sea (SE) shares does Wang Yanjun still hold after these sales?

After the reported sales, the BVI entity held 14,000 Class A ordinary shares indirectly. A separate holding line shows 1,222,842 Class A ordinary shares held directly as of April 28, 2026, indicating a substantial remaining position alongside the indirect holdings.

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

All reported transactions involved Sea Ltd’s Class A ordinary shares. These non-derivative securities were sold in open-market transactions by a BVI entity associated with Wang Yanjun, rather than involving options, warrants, or other derivative instruments in this particular filing.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 04/30/2026 - 06:01 AM EDT

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)
04/28/2026

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)
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	04/28/2026		S		380⁽¹⁾	D	$85.04⁽²⁾	15,220	I	By BVI entity
Class A ordinary shares	04/28/2026		S		220⁽¹⁾	D	$85.92⁽³⁾	15,000	I	By BVI entity
Class A ordinary shares	04/28/2026		S		200⁽¹⁾	D	$86.71⁽⁴⁾	14,800	I	By BVI entity
Class A ordinary shares	04/29/2026		S		185⁽¹⁾	D	$82.48⁽⁵⁾	14,615	I	By BVI entity
Class A ordinary shares	04/29/2026		S		522⁽¹⁾	D	$83.29⁽⁶⁾	14,093	I	By BVI entity
Class A ordinary shares	04/29/2026		S		41⁽¹⁾	D	$84.42⁽⁷⁾	14,052	I	By BVI entity
Class A ordinary shares	04/29/2026		S		43⁽¹⁾	D	$85.54⁽⁸⁾	14,009	I	By BVI entity
Class A ordinary shares	04/29/2026		S		9⁽¹⁾	D	$86	14,000	I	By BVI entity
Class A ordinary shares								1,222,842	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 $84.46 to $85.44. 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 $85.49 to $86.12.

4. Represents the weighted average price of shares sold at prices that ranged from $86.70 to $86.72.

5. Represents the weighted average price of shares sold at prices that ranged from $81.93 to $82.92.

6. Represents the weighted average price of shares sold at prices that ranged from $82.95 to $83.93.

7. Represents the weighted average price of shares sold at prices that ranged from $83.95 to $84.68.

8. Represents the weighted average price of shares sold at prices that ranged from $85.03 to $85.89.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	04/30/2026
	** 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