Shopee CPO Jingye Chen Sells $6.09M of Sea Ltd Shares Under Rule 10b5-1 Plan

Insider Filing Analysis: Sea Ltd ($SE)

Summary

On September 21, 2026, Sea Ltd reported Form 4 transactions executed by Chen Jingye, Chief Product Officer of Shopee. Between September 17 and September 18, 2026, Chen disposed of 60,000 Class A ordinary shares through an indirect BVI entity at a volume-weighted average price of $101.52, realizing total gross proceeds of ~$6.09 million.

Transaction Details

• Transaction Dates: September 17, 2026 – September 18, 2026
• Execution Tranches:
  • Sept 17: 18,691 shares @ $101.23
  • Sept 17: 10,409 shares @ $101.90
  • Sept 17: 900 shares @ $103.01
  • Sept 18: 4,262 shares @ $100.24
  • Sept 18: 5,105 shares @ $101.10
  • Sept 18: 20,633 shares @ $101.88
• Total Disposed: 60,000 shares
• Post-Transaction Holdings: 60,000 indirect shares remaining via BVI entity, alongside 9,126,574 direct shares.

Context and Significance

• Trading Plan: The dispositions were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan established on June 10, 2026.
• Significance Level: Low. The disposition represents less than 1% of Chen's combined direct and indirect equity stake (>9.18 million shares), indicating routine programmatic diversification rather than a shift in executive conviction.