FilingsForm 4

Sea Limited director David Y Ma's Form 4 reported a $23.71 million sale of shares held by a BVI entity

From the public record1 min read

Published Oct 20, 2026 · 06:12 UTCUpdated Oct 20, 2026 · 22:42 UTCFiled Apr 20, 2026

Value$23.71 million, held indirectly

Shares259,166, held indirectly

Average price$91.49

FiledApr 20

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 16 and Apr 17, 2026, 259,166 Class A ordinary shares of Sea Limited held by a BVI entity were sold for $23.71 million, an average of $91.49 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 20, 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 form259,166Our database
value of the sale lines of the form, in US dollars$23.71 millionOur database
average price per share of the sale lines, in US dollars$91.49Our database
date of the first trade on the formApr 16, 2026Our database
date of the last trade on the formApr 17, 2026Our database
the side of the tradessaleOur database
how the shares of the sale lines were held8 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 472165 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 20, 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 20, 2026Our database

The record

Issuer: Sea Limited (CIK 1703399, filed as Sea Ltd)
Form: 4
Accession: 0001193125-26-162574
Filed: Apr 20, 2026
Period of report: Apr 16, 2026
Reporting owner: David Y Ma (CIK 2114135, filed as Ma David Y)
Relationship: director
Rule 10b5-1 checkbox: Ticked
Line 1: S (sale) · 83,101 Class A ordinary shares at $90.40 · Apr 16, 2026 · disposed, indirectly, By BVI entity · 648,230 held after · footnotes F1 and F2
Line 2: S (sale) · 23,651 Class A ordinary shares at $91.33 · Apr 16, 2026 · disposed, indirectly, By BVI entity · 624,579 held after · footnotes F1 and F3
Line 3: S (sale) · 6,299 Class A ordinary shares at $92.30 · Apr 16, 2026 · disposed, indirectly, By BVI entity · 618,280 held after · footnotes F1 and F4
Line 4: S (sale) · 1,043 Class A ordinary shares at $93.05 · Apr 16, 2026 · disposed, indirectly, By BVI entity · 617,237 held after · footnotes F1 and F5
Line 5: S (sale) · 8,020 Class A ordinary shares at $90.57 · Apr 17, 2026 · disposed, indirectly, By BVI entity · 609,217 held after · footnotes F1 and F6
Line 6: S (sale) · 40,080 Class A ordinary shares at $91.47 · Apr 17, 2026 · disposed, indirectly, By BVI entity · 569,137 held after · footnotes F1 and F7
Line 7: S (sale) · 76,252 Class A ordinary shares at $92.34 · Apr 17, 2026 · disposed, indirectly, By BVI entity · 492,885 held after · footnotes F1 and F8
Line 8: S (sale) · 20,720 Class A ordinary shares at $93.04 · Apr 17, 2026 · disposed, indirectly, By BVI entity · 472,165 held after · footnotes F1 and F9
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 $89.90 to $90.89. 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 $90.90 to $91.88.
Footnote F4: Represents the weighted average price of shares sold at prices that ranged from $91.90 to $92.84.
Footnote F5: Represents the weighted average price of shares sold at prices that ranged from $92.94 to $93.24.
Footnote F6: Represents the weighted average price of shares sold at prices that ranged from $89.83 to $90.80.
Footnote F7: Represents the weighted average price of shares sold at prices that ranged from $90.83 to $91.825
Footnote F8: Represents the weighted average price of shares sold at prices that ranged from $91.83 to $92.82.
Footnote F9: Represents the weighted average price of shares sold at prices that ranged from $92.83 to $93.37.