Sea Ltd COO Ye Gang Sells $4.5M in Shares Under Rule 10b5-1 Plan

Executive Summary

On September 4, 2026, Sea Ltd ($SE) reported an insider transaction by Director and Chief Operating Officer Ye Gang. Across September 2 and September 3, 2026, Ye Gang indirectly disposed of 40,000 Class A ordinary shares through a controlled British Virgin Islands (BVI) entity for an aggregate consideration of approximately $4.52 million.

Transaction Breakdown

• September 2, 2026:
  • Sold 9,168 shares at a weighted average price of $112.23 (range: $111.49 – $112.48)
  • Sold 10,832 shares at a weighted average price of $112.67 (range: $112.49 – $113.09)
• September 3, 2026:
  • Sold 2,300 shares at a weighted average price of $112.14 (range: $111.53 – $112.51)
  • Sold 10,104 shares at a weighted average price of $113.15 (range: $112.55 – $113.52)
  • Sold 7,596 shares at a weighted average price of $113.93 (range: $113.53 – $114.32)

Context and Trading Significance

1. Pre-Arranged 10b5-1 Plan: The transaction was executed pursuant to a Rule 10b5-1 trading plan established on September 4, 2025, exactly one year prior to filing, minimizing concerns of opportunistic trading based on material non-public information.
2. Proportion of Holdings: Following the transaction, the BVI entity retains 218,792 shares. Ye Gang continues to directly hold 20,976,405 Class A ordinary shares. The 40,000 shares sold represent less than 0.2% of his total reported direct and indirect holdings.
3. Significance Level: Low, given the pre-scheduled nature under a 10b5-1 plan and the minimal percentage of total insider ownership liquidated.