Were Wang Yanjun’s Sea (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 Yanjun. Such plans are pre-arranged trading programs, designed to execute transactions automatically regardless of subsequent market conditions.

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

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd’s chief corporate officer and general counsel, Wang Yanjun, reported open-market sales of a total of 1,600 Class A ordinary shares by a BVI entity he controls. The trades occurred on April 30 and May 1 at weighted average prices of about $83–$86 per share under a pre-arranged Rule 10b5-1 trading plan.

After these sales, the BVI entity held 12,400 Class A shares indirectly, while Wang also held 1,222,842 Class A shares directly as of April 30. The transactions represent a small portion of his overall reported holdings.

Insider Trade Summary 10b5-1

Net Seller: 1,600 shares ($136,219)

Net Sell 5 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($136K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	800	$86.13	$69K
Sale	Class A ordinary shares	257	$83.01	$21K
Sale	Class A ordinary shares	224	$84.24	$19K
Sale	Class A ordinary shares	319	$84.99	$27K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 12,400 shares (Indirect, By BVI entity); Class A ordinary shares — 1,222,842 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 $82.53 to $83.52. 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 $83.54 to $84.52. Represents the weighted average price of shares sold at prices that ranged from $84.53 to $85.50. Represents the weighted average price of shares sold at prices that ranged from $85.68 to $86.52.

Key Figures

Shares sold: 1,600 shares Sale price 1: $83.01 per share Sale price 2: $84.24 per share +4 more

7 metrics

Shares sold 1,600 shares Total Class A ordinary shares sold in open-market transactions

Sale price 1 $83.01 per share Weighted average price for one sale tranche on April 30

Sale price 2 $84.24 per share Weighted average price for a second sale tranche on April 30

Sale price 3 $84.99 per share Weighted average price for a third sale tranche on April 30

Sale price 4 $86.13 per share Weighted average price for sale on May 1

Indirect holdings after trades 12,400 shares Class A ordinary shares held by BVI entity after sales

Direct holdings 1,222,842 shares Class A ordinary shares held directly by Wang as of April 30

Key Terms

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

Class A ordinary shares financial

"security_title: "Class A ordinary shares" in multiple transaction entries"

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 $82.53 to $83.52."

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 regulatory

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

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 06:01 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)
04/30/2026

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	04/30/2026		S		257⁽¹⁾	D	$83.01⁽²⁾	13,743	I	By BVI entity
Class A ordinary shares	04/30/2026		S		224⁽¹⁾	D	$84.24⁽³⁾	13,519	I	By BVI entity
Class A ordinary shares	04/30/2026		S		319⁽¹⁾	D	$84.99⁽⁴⁾	13,200	I	By BVI entity
Class A ordinary shares	05/01/2026		S		800⁽¹⁾	D	$86.13⁽⁵⁾	12,400	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 $82.53 to $83.52. 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 $83.54 to $84.52.

4. Represents the weighted average price of shares sold at prices that ranged from $84.53 to $85.50.

5. Represents the weighted average price of shares sold at prices that ranged from $85.68 to $86.52.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	05/04/2026
	** 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 (SE) report for Wang Yanjun?

Sea reported that a BVI entity controlled by CCO and GC Wang Yanjun sold 1,600 Class A ordinary shares in open-market transactions. These sales were executed on April 30 and May 1 at weighted average prices between roughly $83 and $86 per share.

At what prices were the 1,600 Sea (SE) shares sold?

The filing lists weighted average sale prices of $83.01, $84.24, $84.99 and $86.13 per share for the four trades. Footnotes explain each figure reflects a weighted average within disclosed price ranges, and detailed per-price breakdowns are available on request.

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

After the reported sales, the BVI entity controlled by Wang held 12,400 Class A ordinary shares indirectly. Separately, Wang held 1,222,842 Class A ordinary shares directly as of April 30, indicating the reported transactions affected only a small fraction of his disclosed holdings.

Does the Sea (SE) Form 4 involve any derivative securities?

No. All reported transactions involve Class A ordinary shares as non-derivative securities. The derivativeSummary section in the data is empty, indicating there were no option exercises, warrant conversions, or other derivative-related transactions disclosed in this Form 4 filing.