Sea Ltd COO Ye Gang Sells $4.08M in Shares Under Rule 10b5-1 Plan

Insider Transaction Analysis: Sea Ltd ($SE)

Executive Summary

On September 21, 2026, Sea Ltd filed a Form 4 disclosing that Chief Operating Officer and Director Ye Gang disposed of 40,000 Class A ordinary shares across multiple tranches on September 17 and September 18, 2026. The aggregate proceeds totaled approximately $4.08 million, with execution prices ranging from $100.76 to $104.76 per share (weighted average of ~$101.88).

Key Details

• Reporting Person: Ye Gang (COO & Director)
• Nature of Holding: Indirect via a British Virgin Islands (BVI) entity
• Transaction Dates: September 17, 2026 – September 18, 2026
• Shares Sold: 40,000 shares
• Aggregate Consideration: $4,075,323.76
• 10b5-1 Trading Plan: Yes; transactions were executed under a pre-established Rule 10b5-1 trading plan adopted on May 21, 2026.

Post-Transaction Holdings

• Indirect Holdings (BVI entity): 598,792 Class A ordinary shares
• Direct Holdings: 20,396,405 Class A ordinary shares

Market Significance

The disposition represents a minor fraction (<0.2%) of Ye Gang's total combined direct and indirect equity exposure in Sea Ltd (exceeding 20.9 million shares). Because the sales were carried out pursuant to a pre-arranged Rule 10b5-1 trading plan adopted months prior, the transaction reflects programmed liquidity rather than a discretionary signal on the company's operating outlook.