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

Sea Ltd. COO Gang Ye reports the sale of Class A ordinary shares valued at over $2 million through a pre-arranged trading plan.

Summary

• Gang Ye, COO of Sea Ltd. (SE), has reported the sale of Class A ordinary shares on May 18th and 19th, 2026.
• These transactions were executed under a Rule 10b5-1 trading plan established on September 4, 2025, by a BVI entity controlled by Mr. Ye.
• The sales involved a total of 33,600 shares across multiple transactions, with reported weighted average prices ranging from $86.09 to $89.87.
• The total value of the reported sales is approximately $2.9 million.
• Following these transactions, Mr. Ye's beneficial ownership of Sea Ltd. Class A ordinary shares is 22,206,405.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral to slightly negative filing due to the significant sale of shares by a key executive, despite the use of a Rule 10b5-1 plan.

Positives

• The sales were conducted under a Rule 10b5-1 plan, indicating pre-planned and potentially non-insider trading related activity.
• The reporting person, Gang Ye, retains a significant beneficial ownership of 22,206,405 Class A ordinary shares, suggesting continued commitment to the company.

Negatives

• A significant number of shares (33,600) were sold by a key executive, which could be perceived negatively by the market.
• The total value of shares sold exceeds $2.9 million, representing a notable divestment.

Risks

• Potential for negative market perception due to the sale of a substantial number of shares by a high-ranking executive.
• The Rule 10b5-1 plan, while providing a defense against insider trading allegations, still involves the actual reduction of the executive's holdings.

Future Outlook

No specific forward-looking statements or guidance were provided in this Form 4 filing, which solely reports on past transactions.

Management Comments

• 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.
• 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.

Industry Context

StockSavvy.ai notes that insider selling, even under a Rule 10b5-1 plan, can sometimes lead to short-term stock price pressure. However, the continued large beneficial ownership by Sea Ltd.'s COO suggests a long-term perspective.

Stakeholder Impact

• Shareholders may react to the sale of shares by a key executive, potentially leading to short-term volatility.
• Employees may interpret the sale as a signal, though the Rule 10b5-1 plan mitigates concerns about insider knowledge.

Next Steps

• Monitoring of Sea Ltd.'s stock performance following these reported transactions.

Key Dates

Recommendation

The sale of shares by a key executive, even under a Rule 10b5-1 plan, warrants attention. However, the executive retains a substantial stake, and the transactions were pre-planned. Without further negative catalysts or a clear trend of significant insider selling, a 'hold' recommendation is prudent, suggesting investors monitor future filings and company performance.

Keywords

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