Sea Ltd (SE) CCO’s BVI entity sells 1,600 shares under 10b5-1 plan

Q: What insider transaction did Sea Ltd (SE) report from Wang Yanjun?

Sea Ltd reported that CCO and GC Wang Yanjun , through a controlled BVI entity, sold 1,600 Class A ordinary shares in open‑market transactions. These trades occurred on April 24 and 27, 2026 at weighted-average prices in the mid‑$80s per share.

Q: How many Sea Ltd (SE) shares does Wang Yanjun hold after the reported sales?

After the transactions, the BVI entity associated with Wang Yanjun held 15,600 Class A ordinary shares . Separately, his directly held position is disclosed as 1,222,842 Class A ordinary shares as of April 24, 2026 , giving a much larger remaining direct stake.

Q: Were the Sea Ltd (SE) insider sales made under a Rule 10b5-1 plan?

Yes. A footnote states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025 by a BVI entity controlled by the reporting person, indicating the sales followed a pre‑arranged, systematic plan.

Q: Are the Sea Ltd (SE) shares sold held directly by Wang Yanjun?

No. The Form 4 shows the sold Class A ordinary shares were held indirectly "By BVI entity" controlled by Wang Yanjun. His substantial direct holdings, over 1.22 million shares, are disclosed separately and were not part of these specific sale entries.

Q: What does the holding entry in the Sea Ltd (SE) Form 4 indicate?

The holding entry dated April 24, 2026 shows 1,222,842 Class A ordinary shares held directly by Wang Yanjun. It provides a snapshot of his direct ownership level, helping investors understand the scale of his remaining position relative to the reported indirect sales.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Sea Ltd chief compliance officer and general counsel Wang Yanjun reported open‑market sales of 1,600 Class A ordinary shares through a BVI entity he controls. The sales occurred on April 24 and 27, 2026 at prices around $84–$86 per share, under a pre‑arranged Rule 10b5‑1 trading plan.

After these indirect sales, the BVI entity’s holdings were 15,600 Class A ordinary shares, while Wang’s direct holdings were 1,222,842 Class A ordinary shares as of April 24, 2026. The trades represent a relatively small portion of the total position disclosed in this filing.

Insights

Small 10b5-1 sales by compliance chief appear routine and pre-planned.

The filing shows 1,600 Class A ordinary shares of Sea Ltd sold in the open market by a BVI entity controlled by chief compliance officer and general counsel Wang Yanjun. Prices ranged roughly from $83.10 to $86.41, based on weighted-average disclosures.

The key context is scale and structure. Wang’s directly held stake is disclosed as 1,222,842 Class A ordinary shares, and the BVI entity still holds 15,600 shares after the sales, indicating these are modest disposals relative to the overall position.

The footnotes state the trades were executed under a Rule 10b5-1 trading plan adopted by the BVI entity. Such pre-arranged plans are designed to systematize selling and reduce the significance of timing decisions, so this activity looks like routine liquidity management rather than a thesis-changing move.

Insider Trade Summary 10b5-1

Net Seller: 1,600 shares ($136,400)

Net Sell 6 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($136K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	32	$84.76	$3K
Sale	Class A ordinary shares	768	$85.97	$66K
Sale	Class A ordinary shares	144	$83.76	$12K
Sale	Class A ordinary shares	487	$84.56	$41K
Sale	Class A ordinary shares	169	$85.33	$14K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 16,368 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 $83.10 to $84.09. 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 $84.10 to $85.09. Represents the weighted average price of shares sold at prices that ranged from $85.10 to $85.78. Represents the weighted average price of shares sold at prices that ranged from $84.47 to $85.33. Represents the weighted average price of shares sold at prices that ranged from $85.56 to $86.41.

Key Figures

Shares sold: 1,600 shares Sale prices: $83.10–$86.41 per share Indirect holdings after sales: 15,600 shares +2 more

5 metrics

Shares sold 1,600 shares Net Class A ordinary shares sold in open market

Sale prices $83.10–$86.41 per share Weighted-average price ranges from footnotes

Indirect holdings after sales 15,600 shares Class A ordinary shares held by BVI entity

Direct holdings snapshot 1,222,842 shares Class A ordinary shares held directly as of Apr 24, 2026

Single largest sale line 768 shares at $85.97 Open-market sale on Apr 27, 2026 by BVI entity

Key Terms

Class A ordinary shares, Rule 10b5-1 trading plan, BVI entity, open-market sale, +1 more

5 terms

Class A ordinary shares financial

"The filing covers transactions in Class A ordinary shares of Sea Ltd."

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.

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.

BVI entity financial

"Nature of ownership for the sales is listed as "By BVI entity"."

open-market sale financial

"Each sale is described with the 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.

weighted average price financial

"Footnotes state the reported prices represent the weighted average price of shares sold."

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.

Form 4 Insider Transactions: What Each Field Means →

04/28/2026 - 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)
04/24/2026

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	04/24/2026		S		144⁽¹⁾	D	$83.76⁽²⁾	17,056	I	By BVI entity
Class A ordinary shares	04/24/2026		S		487⁽¹⁾	D	$84.56⁽³⁾	16,569	I	By BVI entity
Class A ordinary shares	04/24/2026		S		169⁽¹⁾	D	$85.33⁽⁴⁾	16,400	I	By BVI entity
Class A ordinary shares	04/27/2026		S		32⁽¹⁾	D	$84.76⁽⁵⁾	16,368	I	By BVI entity
Class A ordinary shares	04/27/2026		S		768⁽¹⁾	D	$85.97⁽⁶⁾	15,600	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 $83.10 to $84.09. 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 $84.10 to $85.09.

4. Represents the weighted average price of shares sold at prices that ranged from $85.10 to $85.78.

5. Represents the weighted average price of shares sold at prices that ranged from $84.47 to $85.33.

6. Represents the weighted average price of shares sold at prices that ranged from $85.56 to $86.41.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	04/28/2026
	** 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 from Wang Yanjun?

Sea Ltd reported that CCO and GC Wang Yanjun, through a controlled BVI entity, sold 1,600 Class A ordinary shares in open‑market transactions. These trades occurred on April 24 and 27, 2026 at weighted-average prices in the mid‑$80s per share.

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

The filing shows weighted-average sale prices around $84–$86 per share. Footnotes specify ranges from $83.10 to $86.41, with each line item reflecting an average price for multiple trades inside the stated ranges on the respective dates.

How many Sea Ltd (SE) shares does Wang Yanjun hold after the reported sales?

After the transactions, the BVI entity associated with Wang Yanjun held 15,600 Class A ordinary shares. Separately, his directly held position is disclosed as 1,222,842 Class A ordinary shares as of April 24, 2026, giving a much larger remaining direct stake.

Were the Sea Ltd (SE) insider sales made under a Rule 10b5-1 plan?

Yes. A footnote states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted on September 4, 2025 by a BVI entity controlled by the reporting person, indicating the sales followed a pre‑arranged, systematic plan.

Are the Sea Ltd (SE) shares sold held directly by Wang Yanjun?

No. The Form 4 shows the sold Class A ordinary shares were held indirectly "By BVI entity" controlled by Wang Yanjun. His substantial direct holdings, over 1.22 million shares, are disclosed separately and were not part of these specific sale entries.

What does the holding entry in the Sea Ltd (SE) Form 4 indicate?

The holding entry dated April 24, 2026 shows 1,222,842 Class A ordinary shares held directly by Wang Yanjun. It provides a snapshot of his direct ownership level, helping investors understand the scale of his remaining position relative to the reported indirect sales.