Sea Ltd Affiliate Devon Court Ltd Files Form 144 to Sell $10.43M in ADSs
Sea Ltd
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Filing Summary
📢 Form 144 Notice of Proposed Sale: Sea Ltd ($SE)
Seller: Devon Court Ltd (Affiliate) Securities Proposed for Sale: 96,000 ADSs Estimated Market Value: ~$10,433,280 ($108.68/share) Broker: J.P. Morgan Securities LLC Approximate Sale Date: September 15, 2026 Plan Adoption Date: March 26, 2026 (Rule 10b5-1)
Note: The filing also details consistent historical sales over the past three months under the adopted plan.
Comprehensive Analysis
Executive Summary
On September 15, 2026, affiliate entity Devon Court Ltd filed a Form 144 notice of proposed sale covering 96,000 American Depositary Shares (ADSs) of Sea Ltd (NYSE: SE) with an estimated aggregate market value of $10,433,280 (~$108.68 per share).
Key Transaction Highlights
- Seller & Relationship: Devon Court Ltd, designated as an affiliate of Sea Ltd.
- Broker: J.P. Morgan Securities LLC.
- Securities to be Sold: 96,000 ADSs acquired through restricted share unit (RSU) vesting across several tranches between January 2025 and October 2025 as compensation for services.
- Trading Plan: Executed pursuant to a Rule 10b5-1 trading plan adopted on March 26, 2026.
- Past 3 Months Activity: The filer has engaged in regular, programmed daily/weekly disposals ranging between 1,000 and 1,500 ADSs per trading session from late June 2026 through September 2026.
Market Impact & Interpretation
Given that the sale represents a very small fraction of Sea Ltd's 565,506,375 outstanding units and is executed under a pre-established Rule 10b5-1 trading arrangement, the overall market and sentiment impact is expected to be neutral to moderate.
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