Sea Ltd CCO & GC Yanjun Wang Sells $193.5K in Class A Ordinary Shares Under 10b5-1 Plan

Executive Summary

On October 7, 2026, Sea Ltd ($SE) Chief Corporate Officer and General Counsel Yanjun Wang filed a Form 4 detailing the open market sale of 2,000 Class A ordinary shares held indirectly through a British Virgin Islands (BVI) entity. Executed across October 5 and October 6, 2026, the aggregate transaction generated gross proceeds of approximately $193,545 at a volume-weighted average price of $96.77 per share.

Transaction Details

The disposals were executed under an affirmative Rule 10b5-1 trading plan adopted on March 26, 2026. Across five distinct tranches:

• Oct 5, 2026: Sold 675 shares at an average price of $97.02 ($96.57 to $97.56).
• Oct 5, 2026: Sold 325 shares at an average price of $97.79 ($97.58 to $98.14).
• Oct 6, 2026: Sold 515 shares at an average price of $95.96 ($95.30 to $96.29).
• Oct 6, 2026: Sold 460 shares at an average price of $96.56 ($96.30 to $97.25).
• Oct 6, 2026: Sold 25 shares at an average price of $97.50 ($97.37 to $97.63).

Ownership Structure & Market Significance

• Holding Impact: Following the transaction, the BVI entity holds 85,780 Class A ordinary shares. Wang also directly retains 1,033,642 Class A ordinary shares.
• Significance Evaluation: This transaction is rated Low in market significance. The 2,000 shares sold represent less than 0.2% of the insider's combined direct and indirect holdings (>1.11 million shares). Furthermore, the execution was pre-scheduled under a Rule 10b5-1 plan established more than six months prior, pointing to routine diversification rather than an opportunistic trade based on non-public material information.