Sea Ltd COO Ye Gang Exercises 1.65M Options and Holds Shares

Insider Transaction Analysis: Sea Ltd ($SE)

Summary

On October 27, 2026, Sea Ltd Chief Operating Officer and Director Ye Gang exercised options to acquire 1,650,000 Class A ordinary shares at an exercise strike price of $15.00 per share, representing a total exercise cost of $24,750,000.

Key Transaction Details

• Security: Class A ordinary shares
• Transaction Code: X (Exercise of in-the-money or out-of-the-money derivative security)
• Shares Acquired: 1,650,000 shares
• Exercise Price: $15.00 per share
• Derivative Security Disposed: Share options expiring February 28, 2028 (granted in February 2018)
• Post-Transaction Direct Holdings: 22,046,405 shares
• Indirect Holdings: 598,792 shares held via a British Virgin Islands entity

Significance and Context

• Retention of Shares: Notably, there were no corresponding sales of shares reported on this filing to cover taxes or lock in profits. The reporting owner held the entirety of the newly exercised shares, increasing his direct position by ~8% to over 22 million Class A ordinary shares.
• Expiration Runway: The exercised options carried an expiration date of February 28, 2028, indicating the exercise was executed comfortably ahead of expiration.
• Overall Sentiment: Neutral to Moderately Bullish. While option exercises are routine executive compensation events, holding the full underlying block without an accompanying market disposition reflects ongoing commitment and confidence in the company.