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

Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by Yanjun Wang on September 4, 2025. Such plans are pre-arranged trading programs designed to systematically execute transactions over time.

Sea CCO sells 1,600 shares under 10b5-1 plan

Q: What insider transactions did Sea Ltd (SE) report for Yanjun Wang?

Sea Ltd reported that CCO and GC Yanjun Wang, via a BVI entity he controls, sold 1,600 Class A ordinary shares in six open-market trades. These trades occurred on April 22–23, 2026 and were executed under a pre-arranged Rule 10b5-1 trading plan.

Q: How many Sea Ltd (SE) shares did Yanjun Wang sell and at what prices?

Wang’s controlled BVI entity sold 1,600 Class A ordinary shares in total. The reported transaction prices were $86.68, $85.98, $85.02, $84.43, $83.60 and $82.85 per share across six open-market sales over two consecutive trading days.

Q: How many Sea Ltd (SE) shares does Yanjun Wang hold after these transactions?

After the reported trades, the filing shows 17,200 shares held indirectly through the BVI entity. A separate holding line also shows 1,222,842 Class A ordinary shares held directly as of the reported date, indicating Wang continues to have a substantial overall share position.

Q: What is the nature of Yanjun Wang’s ownership in the sold Sea Ltd (SE) shares?

The sold shares were held indirectly through a BVI entity, as indicated by the "I" ownership code and the description "By BVI entity." This means the entity executed the trades, while Wang’s interest is through his control of that entity.

Sea Ltd’s Chief Corporate Officer and General Counsel Yanjun Wang, through a BVI entity he controls, executed open-market sales of 1,600 Class A ordinary shares over April 22–23, 2026 under a pre-arranged Rule 10b5-1 trading plan.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Sea Ltd’s Chief Corporate Officer and General Counsel Yanjun Wang, through a BVI entity he controls, executed open-market sales of 1,600 Class A ordinary shares over April 22–23, 2026 under a pre-arranged Rule 10b5-1 trading plan.

The shares were sold in six trades at prices of $86.68, $85.98, $85.02, $84.43, $83.60 and $82.85 per share. After these transactions, Wang’s indirect holdings via the BVI entity were 17,200 shares, while a separate direct holding entry shows 1,222,842 shares held directly as of the reported date.

Insider Trade Summary 10b5-1

Net Seller: 1,600 shares

Net Sell 7 txns

Insider Wang Yanjun

Role CCO and GC

Sold 1,600 shs ($136K)

Type	Security	Shares	Price	Value
Sale	Class A ordinary shares	257	$82.85	$21K
Sale	Class A ordinary shares	454	$83.60	$38K
Sale	Class A ordinary shares	89	$84.43	$8K
Sale	Class A ordinary shares	135	$85.02	$11K
Sale	Class A ordinary shares	442	$85.98	$38K
Sale	Class A ordinary shares	223	$86.68	$19K
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Class A ordinary shares — 17,200 shares (Indirect, By BVI entity); Class A ordinary shares — 1,222,842 shares (Direct)

Footnotes (7)

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 $84.40 to $85.39. 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 $85.40 to $86.39.
F4. Represents the weighted average price of shares sold at prices that ranged from $86.40 to $87.26.
F5. Represents the weighted average price of shares sold at prices that ranged from $82.20 to $83.19.
F6. Represents the weighted average price of shares sold at prices that ranged from $83.22 to $84.18.
F7. Represents the weighted average price of shares sold at prices that ranged from $84.20 to $84.78.

Key Figures

Shares sold: 1,600 shares Sale prices: $86.68, $85.98, $85.02, $84.43, $83.60, $82.85/share Indirect holdings after trades: 17,200 shares +3 more

6 metrics

Shares sold 1,600 shares Total Class A ordinary shares sold April 22–23, 2026

Sale prices $86.68, $85.98, $85.02, $84.43, $83.60, $82.85/share Per-share prices for six open-market sales

Indirect holdings after trades 17,200 shares Class A ordinary shares held via BVI entity following transactions

Direct holdings 1,222,842 shares Class A ordinary shares held directly as of April 22, 2026

Net share change -1,600 shares Net sell volume across all reported transactions

Rule 10b5-1 plan date September 4, 2025 Adoption date of trading plan by controlled BVI entity

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 in each reported transaction"

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 $84.40 to $85.39"

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 for each S-coded transaction"

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.

indirect ownership financial

"ownership_type: indirect and nature_of_ownership: By BVI entity"

FAQ

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

What insider transactions did Sea Ltd (SE) report for Yanjun Wang?

Sea Ltd reported that CCO and GC Yanjun Wang, via a BVI entity he controls, sold 1,600 Class A ordinary shares in six open-market trades. These trades occurred on April 22–23, 2026 and were executed under a pre-arranged Rule 10b5-1 trading plan.

How many Sea Ltd (SE) shares did Yanjun Wang sell and at what prices?

Wang’s controlled BVI entity sold 1,600 Class A ordinary shares in total. The reported transaction prices were $86.68, $85.98, $85.02, $84.43, $83.60 and $82.85 per share across six open-market sales over two consecutive trading days.

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

After the reported trades, the filing shows 17,200 shares held indirectly through the BVI entity. A separate holding line also shows 1,222,842 Class A ordinary shares held directly as of the reported date, indicating Wang continues to have a substantial overall share position.

What is the nature of Yanjun Wang’s ownership in the sold Sea Ltd (SE) shares?

The sold shares were held indirectly through a BVI entity, as indicated by the "I" ownership code and the description "By BVI entity." This means the entity executed the trades, while Wang’s interest is through his control of that entity.

Did the Sea Ltd (SE) filing provide price ranges or weighted averages for the sales?

Yes. Footnotes explain that the reported prices for several trades are weighted average prices for shares sold within specific ranges, and the reporting person undertakes to provide detailed breakdowns of shares sold at each separate price within those ranges upon request.

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 04/24/2026 - 06:02 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)
04/22/2026

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	04/22/2026		S		135⁽¹⁾	D	$85.02⁽²⁾	18,665	I	By BVI entity
Class A ordinary shares	04/22/2026		S		442⁽¹⁾	D	$85.98⁽³⁾	18,223	I	By BVI entity
Class A ordinary shares	04/22/2026		S		223⁽¹⁾	D	$86.68⁽⁴⁾	18,000	I	By BVI entity
Class A ordinary shares	04/23/2026		S		257⁽¹⁾	D	$82.85⁽⁵⁾	17,743	I	By BVI entity
Class A ordinary shares	04/23/2026		S		454⁽¹⁾	D	$83.6⁽⁶⁾	17,289	I	By BVI entity
Class A ordinary shares	04/23/2026		S		89⁽¹⁾	D	$84.43⁽⁷⁾	17,200	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 $84.40 to $85.39. 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 $85.40 to $86.39.

4. Represents the weighted average price of shares sold at prices that ranged from $86.40 to $87.26.

5. Represents the weighted average price of shares sold at prices that ranged from $82.20 to $83.19.

6. Represents the weighted average price of shares sold at prices that ranged from $83.22 to $84.18.

7. Represents the weighted average price of shares sold at prices that ranged from $84.20 to $84.78.

	/s/ Emily Tan, attorney-in-fact for Yanjun Wang	04/24/2026
	** 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