FilingsForm 4

Sea Limited director David Y Ma's Form 4 reported a $30.12 million sale of shares held by a BVI entity

From the public record1 min read

Published Oct 20, 2026 · 06:11 UTCUpdated Oct 20, 2026 · 22:42 UTCFiled Apr 16, 2026

Value$30.12 million, held indirectly

Shares340,752, held indirectly

Average price$88.39

FiledApr 16

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Between Apr 14 and Apr 15, 2026, 340,752 Class A ordinary shares of Sea Limited held by a BVI entity were sold for $30.12 million, an average of $88.39 a share, according to a Form 4 (the form an insider files when trading the company's shares) that names director David Y Ma as reporting owner. The form's first footnote said the shares were sold under a Rule 10b5-1 trading plan (a way for insiders to arrange sales in advance), adopted on Dec 12, 2025 by a BVI entity controlled by an immediate family member sharing the reporting person's household. The Form 4 was filed on Apr 16, 2026 and is available on the SEC's EDGAR database.1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

How each figure was checked16 facts

shares in the sale lines of the form340,752Our database
value of the sale lines of the form, in US dollars$30.12 millionOur database
average price per share of the sale lines, in US dollars$88.39Our database
date of the first trade on the formApr 14, 2026Our database
date of the last trade on the formApr 15, 2026Our database
the side of the tradessaleOur database
how the shares of the sale lines were held11 sale lines held indirectly (By BVI entity)Our database
the class of the shares and how they were held after the last sale lineafter the last sale line the form states 731331 shares of Class A ordinary shares held indirectly (By BVI entity)Our database
the issuerSea LimitedOur database
the reporting owner as filedDavid Y MaOur database
the names the form was signed withMark Tang, attorney-in-fact for David Y MaOur database
the reporting owner's relationship to the companydirectorOur database
every reporting owner of the formDavid Y Ma (filed as Ma David Y; director)Our database
footnote F1 of the Form 4: the plan and who adopted itDecember 12, 2025Footnotes of the Form 4 filed Apr 16, 2026 ↗
the Rule 10b5-1 box on the formticked: the filing marks a transaction on the form as made under a Rule 10b5-1 plan; the box is one answer for the whole form and does not say which lineOur database
day the Form 4 was filedApr 16, 2026Our database

The record

Issuer: Sea Limited (CIK 1703399, filed as Sea Ltd)
Form: 4
Accession: 0001193125-26-157846
Filed: Apr 16, 2026
Period of report: Apr 14, 2026
Reporting owner: David Y Ma (CIK 2114135, filed as Ma David Y)
Relationship: director
Rule 10b5-1 checkbox: Ticked
Line 1: S (sale) · 57,200 Class A ordinary shares at $85.74 · Apr 14, 2026 · disposed, indirectly, By BVI entity · 1,014,883 held after · footnotes F1 and F2
Line 2: S (sale) · 24,965 Class A ordinary shares at $86.81 · Apr 14, 2026 · disposed, indirectly, By BVI entity · 989,918 held after · footnotes F1 and F3
Line 3: S (sale) · 20,257 Class A ordinary shares at $88.05 · Apr 14, 2026 · disposed, indirectly, By BVI entity · 969,661 held after · footnotes F1 and F4
Line 4: S (sale) · 48,923 Class A ordinary shares at $88.79 · Apr 14, 2026 · disposed, indirectly, By BVI entity · 920,738 held after · footnotes F1 and F5
Line 5: S (sale) · 25,374 Class A ordinary shares at $89.65 · Apr 14, 2026 · disposed, indirectly, By BVI entity · 895,364 held after · footnotes F1 and F6
Line 6: S (sale) · 3,192 Class A ordinary shares at $86.05 · Apr 15, 2026 · disposed, indirectly, By BVI entity · 892,172 held after · footnotes F1 and F7
Line 7: S (sale) · 19,731 Class A ordinary shares at $87.73 · Apr 15, 2026 · disposed, indirectly, By BVI entity · 872,441 held after · footnotes F1 and F8
Line 8: S (sale) · 30,722 Class A ordinary shares at $88.10 · Apr 15, 2026 · disposed, indirectly, By BVI entity · 841,719 held after · footnotes F1 and F9
Line 9: S (sale) · 55,185 Class A ordinary shares at $89.52 · Apr 15, 2026 · disposed, indirectly, By BVI entity · 786,534 held after · footnotes F1 and F10
Line 10: S (sale) · 53,174 Class A ordinary shares at $90.44 · Apr 15, 2026 · disposed, indirectly, By BVI entity · 733,360 held after · footnotes F1 and F11
Line 11: S (sale) · 2,029 Class A ordinary shares at $90.97 · Apr 15, 2026 · disposed, indirectly, By BVI entity · 731,331 held after · footnotes F1 and F12
Footnote F1: The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by an immediate family member sharing the same household as the Reporting Person on December 12, 2025.
Footnote F2: Represents the weighted average price of shares sold at prices that ranged from $85.36 to $86.28. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.
Footnote F3: Represents the weighted average price of shares sold at prices that ranged from $86.36 to $87.36.
Footnote F4: Represents the weighted average price of shares sold at prices that ranged from $87.52 to $88.32.
Footnote F5: Represents the weighted average price of shares sold at prices that ranged from $88.36 to $89.35.
Footnote F6: Represents the weighted average price of shares sold at prices that ranged from $89.37 to $90.14.
Footnote F7: Represents the weighted average price of shares sold at prices that ranged from $85.91 to $86.71.
Footnote F8: Represents the weighted average price of shares sold at prices that ranged from $86.92 to $87.90.
Footnote F9: Represents the weighted average price of shares sold at prices that ranged from $87.91 to $88.89.
Footnote F10: Represents the weighted average price of shares sold at prices that ranged from $89.07 to $89.90.
Footnote F11: Represents the weighted average price of shares sold at prices that ranged from $89.91 to $90.90.
Footnote F12: Represents the weighted average price of shares sold at prices that ranged from $90.95 to $91.05.