Were Ye Gang’s Sea Ltd (SE) share sales pre-planned under Rule 10b5-1?

Yes. The filing states that the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Ye Gang on September 4, 2025. Such plans schedule trades in advance to standardize execution.

Sea Ltd (SE) COO-linked BVI entity sells 20,000 shares under Rule 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd COO Ye Gang, through a BVI entity he controls, reported open-market sales of 20,000 Class A ordinary shares of Sea Ltd over two days. The sales, executed at prices in the low-to-mid $90s per share, were made under a pre-arranged Rule 10b5-1 trading plan.

After these transactions, the filing shows indirect holdings of several hundred thousand Class A shares through the BVI entity, along with a much larger direct holding of over 21 million Class A shares. The activity reflects a relatively small net reduction compared with his overall reported position.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares ($1,864,998)

Net Sell 10 txns

Insider Ye Gang

Role COO

Sold 20,000 shs ($1.86M)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	3,006	$91.66	$276K
Sale	Class A ordinary shares	794	$92.34	$73K
Sale	Class A ordinary shares	400	$93.93	$38K
Sale	Class A ordinary shares	2,300	$94.54	$217K
Sale	Class A ordinary shares	3,500	$95.66	$335K
Sale	Class A ordinary shares	5,900	$91.93	$542K
Sale	Class A ordinary shares	1,400	$92.97	$130K
Sale	Class A ordinary shares	2,600	$93.97	$244K
Sale	Class A ordinary shares	100	$94.59	$9K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 566,994 shares (Indirect, By BVI entity); Class A ordinary shares — 21,636,405 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 $91.47 to $92.32. 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 $92.60 to $93.40. Represents the weighted average price of shares sold at prices that ranged from $93.53 to $94.40. Represents the weighted average price of shares sold at prices that ranged from $94.58 to $94.59. Represents the weighted average price of shares sold at prices that ranged from $91.10 to $92.09. Represents the weighted average price of shares sold at prices that ranged from $92.14 to $92.59. Represents the weighted average price of shares sold at prices that ranged from $93.78 to $94.06. Represents the weighted average price of shares sold at prices that ranged from $94.18 to $95.05. Represents the weighted average price of shares sold at prices that ranged from $95.14 to $96.01.

Key Figures

Shares sold: 20,000 shares Sample sale price: $95.66 per share Price range (sales): $91.47–$96.01 +3 more

6 metrics

Shares sold 20,000 shares Total Class A ordinary shares sold in open-market transactions

Sample sale price $95.66 per share Price for a 3,500-share sale on June 30, 2026

Price range (sales) $91.47–$96.01 Weighted average price ranges disclosed for multiple trades

Indirect shares after trades 566,994 shares Approximate indirect Class A shares reported following the final sale

Direct holdings 21,636,405 shares Directly held Class A ordinary shares as of June 29, 2026

Net share direction Net sell of 20,000 shares Form 4 transaction summary for this reporting period

Key Terms

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

BVI entity other

"adopted by a BVI entity controlled by the Reporting Person on September 4, 2025."

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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 06:06 AM Accepted by SEC EDGAR 07/01/2026 - 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^*

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)
06/29/2026

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	06/29/2026		S		5,900⁽¹⁾	D	$91.93⁽²⁾	574,100	I	By BVI entity
Class A ordinary shares	06/29/2026		S		1,400⁽¹⁾	D	$92.97⁽³⁾	572,700	I	By BVI entity
Class A ordinary shares	06/29/2026		S		2,600⁽¹⁾	D	$93.97⁽⁴⁾	570,100	I	By BVI entity
Class A ordinary shares	06/29/2026		S		100⁽¹⁾	D	$94.59⁽⁵⁾	570,000	I	By BVI entity
Class A ordinary shares	06/30/2026		S		3,006⁽¹⁾	D	$91.66⁽⁶⁾	566,994	I	By BVI entity
Class A ordinary shares	06/30/2026		S		794⁽¹⁾	D	$92.34⁽⁷⁾	566,200	I	By BVI entity
Class A ordinary shares	06/30/2026		S		400⁽¹⁾	D	$93.93⁽⁸⁾	565,800	I	By BVI entity
Class A ordinary shares	06/30/2026		S		2,300⁽¹⁾	D	$94.54⁽⁹⁾	563,500	I	By BVI entity
Class A ordinary shares	06/30/2026		S		3,500⁽¹⁾	D	$95.66⁽¹⁰⁾	560,000	I	By BVI entity
Class A ordinary shares								21,636,405	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 $91.47 to $92.32. 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 $92.60 to $93.40.

4. Represents the weighted average price of shares sold at prices that ranged from $93.53 to $94.40.

5. Represents the weighted average price of shares sold at prices that ranged from $94.58 to $94.59.

6. Represents the weighted average price of shares sold at prices that ranged from $91.10 to $92.09.

7. Represents the weighted average price of shares sold at prices that ranged from $92.14 to $92.59.

8. Represents the weighted average price of shares sold at prices that ranged from $93.78 to $94.06.

9. Represents the weighted average price of shares sold at prices that ranged from $94.18 to $95.05.

10. Represents the weighted average price of shares sold at prices that ranged from $95.14 to $96.01.

	/s/ Mark Tang, attorney-in-fact for Gang Ye	07/01/2026
	** 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 activity did Sea Ltd (SE) report for COO Ye Gang?

Sea Ltd reported that a BVI entity controlled by COO Ye Gang sold 20,000 Class A ordinary shares in open-market transactions. These sales were disclosed in a Form 4 and executed under a pre-arranged Rule 10b5-1 trading plan.

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

The BVI entity associated with COO Ye Gang sold 20,000 Sea Ltd Class A ordinary shares. Individual trades occurred around the low-to-mid $90s per share, with weighted average prices reported across ranges from about $91.47 up to $96.01.

Does the Form 4 show direct and indirect Sea Ltd (SE) holdings for Ye Gang?

Yes. The Form 4 reports a large direct holding of 21,636,405 Class A ordinary shares, plus additional indirect holdings of several hundred thousand shares through a BVI entity. The 20,000 shares sold came from the indirectly held position.

How significant are the 20,000 Sea Ltd (SE) shares sold relative to Ye Gang’s holdings?

The 20,000 shares sold represent a small portion of Ye Gang’s reported ownership. He continues to hold over 21.6 million shares directly and several hundred thousand shares indirectly, so the transactions are minor relative to his overall position.