Form 4: Sea Ltd COO Sells Shares Under 10b5-1 Plan

Sea Ltd's COO, Ye Gang, sold 10,000 Class A ordinary shares for $80.85 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Ye Gang, the Chief Operating Officer, Director, and 10% Owner of Sea Ltd, reported a transaction involving the company's Class A ordinary shares.
• On March 31, 2026, 10,000 Class A ordinary shares were sold.
• The shares were sold at a weighted average price of $80.85 per share, with individual sale prices ranging from $80.61 to $81.40.
• This sale was executed pursuant to a Rule 10b5-1 trading plan, which was adopted by a British Virgin Islands (BVI) entity controlled by Ye Gang on September 4, 2025.
• Following this transaction, Ye Gang directly beneficially owns 22,394,539 Class A ordinary shares.
• Additionally, 420,000 Class A ordinary shares are indirectly beneficially owned through the BVI entity.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While insider selling can sometimes be perceived negatively, the execution under a pre-arranged 10b5-1 plan mitigates concerns about opportunistic trading, indicating a planned financial management action rather than a reaction to new negative information.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived by the market as a negative signal, potentially indicating that the insider believes the stock is fully valued or that personal diversification is prioritized over holding company equity.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that insider sales executed under Rule 10b5-1 plans are a common practice for executives to manage personal finances, diversify their portfolios, and mitigate accusations of trading on material non-public information. Such pre-scheduled sales are generally considered routine and do not necessarily reflect a change in the executive's confidence in the company's future prospects, although the market may still react to the news.

Related Party Transactions

• The sale was conducted by a BVI entity controlled by the reporting person, Ye Gang, which constitutes a related party transaction.

Stakeholder Impact

• Shareholders might interpret the insider sale as a slight negative signal, potentially leading to minor short-term price volatility, though the context of a 10b5-1 plan often softens this impact by indicating a pre-planned financial move rather than a reaction to new company-specific information.

Key Dates

Recommendation

The sale by COO Ye Gang was conducted under a pre-arranged 10b5-1 trading plan, which is a common practice for executives to manage personal finances and diversify holdings. This transaction does not inherently signal a change in the company's fundamental outlook or performance, thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Sea Ltd, SE, Form 4, Insider Sale, Ye Gang, COO, 10b5-1 Plan, Class A ordinary shares, Beneficial Ownership