FilingsForm 4

A BVI entity controlled by Sea Limited chief executive Xiaodong Li sells $137.29 million of shares

The BVI entity sold 1,057,650 shares on Aug 11, 2026 at an average price of $129.80, under a trading plan adopted on Sep 10, 2025.

From the public record2 min read

Published Oct 15, 2026 · 01:09 UTCUpdated Oct 21, 2026 · 01:36 UTCFiled Aug 13, 2026

Value$137.29 million, held indirectly

Shares1,057,650, held indirectly

Average price$129.80

FiledAug 13

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.

A BVI (British Virgin Islands) entity controlled by Xiaodong Li, Sea Limited's chairman and chief executive, sold 1,057,650 Class A ordinary shares of Sea on the open market on Aug 11, 2026, for $137.29 million. The form lists seven sales, at average prices from $125.53 to $131.27 a share, for an overall average of $129.80. Footnotes say each line is a weighted average of shares sold across a range of prices, from $125.02 to $126.01 for the first line and $131.02 to $131.86 for the last. The shares were held indirectly, by the BVI entity, and after the last line the form states 288,450 Class A ordinary shares held indirectly by the entity. The Rule 10b5-1 box on the form, which marks trades made under a pre-arranged trading plan, is ticked, and a footnote says the shares were sold under a plan the BVI entity adopted on Sep 10, 2025. The Form 4, the report company insiders must file with the SEC after trading their company's stock, was filed on Aug 13, 2026 and signed by Mark Tang as attorney-in-fact for Xiaodong Li.1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Counting the Form 4s read by the end of Oct 13, 2026, those naming Li as first reporting owner, shares held through a firm or a trust included, show $137.29 million of open-market sales in 1 filing in the 12 months to the end of Aug 13, 2026, and $0 of purchases. Across all Sea Limited insiders, the same 12 months hold $402.79 million of open-market sales in 142 filings and $0 of purchases.17 18 19 20 21 22

Sea Limited trades on the NYSE as SE and reported revenue of $22.94 billion for the year ended Dec 31, 2025 in its annual report on Form 20-F.23 24

Our records hold no Form 4/A of this filing, so its lines are as first filed, and holdings that a form reports without a transaction are not read here. In our records, the Rule 10b5-1 box is ticked, and it is one answer for the whole form and does not say which line it covers.25 26 27

How each figure was checked27 facts

reporting owner as filedLi XiaodongOur database
who signed the formMark Tang, attorney-in-fact for Xiaodong LiOur database
relationship to the companydirector and officer (Chairman and CEO)Our database
how the shares are held7 sale lines held indirectly (By BVI entity)Our database
the shares were sold under a Rule 10b5-1 plan adopted by a BVI entity controlled by the reporting person on Sep 10, 2025September 10, 2025SEC EDGAR, Form 4 filed Aug 13, 2026 (footnotes) ↗
shares sold1,057,650Our database
date of the salesAug 11, 2026Our database
value of the sales$137.29 millionOur database
first sale linesale (code S): 11,136 shares disposed on Aug 11, 2026 at $125.53 per share; held indirectly (By BVI entity); 1,334,964 owned after the lineOur database
shares owned after the last sale lineafter the last sale line the form states 288450 shares of Class A ordinary shares held indirectly (By BVI entity)Our database
last sale linesale (code S): 254,859 shares disposed on Aug 11, 2026 at $131.27 per share; held indirectly (By BVI entity); 288,450 owned after the lineOur database
average price$129.8Our database
footnote F2: first line is a weighted average of shares sold between $125.02 and $126.01$125.02; $126.01SEC EDGAR, Form 4 filed Aug 13, 2026 (footnotes) ↗
footnote F8: last line is a weighted average of shares sold between $131.02 and $131.86$131.02; $131.86SEC EDGAR, Form 4 filed Aug 13, 2026 (footnotes) ↗
Rule 10b5-1 boxticked: 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
filed onAug 13, 2026Our database
Li sales in the 12 months to Aug 13: value$137.29 million of open-market sales reported on Form 4s whose first reporting owner is Li Xiaodong, in the 12 months to the end of Aug 13, 2026 (UTC), counting what we held by the end of Oct 13, 2026 (UTC); shares held through a firm or a trust are in itOur database
Li sales: filings1 filing with open-market sales reported on Form 4s whose first reporting owner is Li Xiaodong, in the 12 months to the end of Aug 13, 2026 (UTC), counting what we held by the end of Oct 13, 2026 (UTC); shares held through a firm or a trust are in itOur database
Li purchases: value$0 of open-market purchases reported on Form 4s whose first reporting owner is Li Xiaodong, in the 12 months to the end of Aug 13, 2026 (UTC), counting what we held by the end of Oct 13, 2026 (UTC); shares held through a firm or a trust are in itOur database
Sea insiders sales: value$402.79 million of open-market sales in the 12 months to the end of Aug 13, 2026 (UTC), counting what we held by the end of Oct 13, 2026 (UTC)Our database
Sea insiders sales: filings142 filings with open-market sales in the 12 months to the end of Aug 13, 2026 (UTC), counting what we held by the end of Oct 13, 2026 (UTC)Our database
Sea insiders purchases: value$0 of open-market purchases in the 12 months to the end of Aug 13, 2026 (UTC), counting what we held by the end of Oct 13, 2026 (UTC)Our database
Sea listingNYSE: SEOur database
Sea revenue for 2025$22.94 billion for the year from Jan 1, 2025 to Dec 31, 2025Our database
amendmentsOur records hold no Form 4/A of this filing that passed our checks, so its lines are as first filed.Our database
recordOur record of a Form 4 holds, for each reporting owner, the name and relationship to the company; for each transaction line, the date, the transaction code, the shares, the price, the shares owned after it and whether they are held directly or indirectly; the Rule 10b5-1 box; and the form's footnotes and remarks, where the `footnotes` fact does not say we have not read them. Holdings the form reports without a transaction are not read.Our database
planOur records hold this Form 4's Rule 10b5-1 checkbox (schema X0609) as ticked. It is one answer for the whole form and does not say which line it covers.Our database

The record

Issuer: Sea Limited (CIK 1703399, filed as Sea Ltd)
Form: 4
Accession: 0001193125-26-347736
Filed: Aug 13, 2026
Period of report: Aug 11, 2026
Reporting owner: Xiaodong Li (CIK 1721503, filed as Li Xiaodong)
Relationship: director and officer (Chairman and CEO)
Rule 10b5-1 checkbox: Ticked
Line 1: S (sale) · 11,136 Class A ordinary shares at $125.53 · Aug 11, 2026 · disposed, indirectly, By BVI entity · 1,334,964 held after · footnotes F1 and F2
Line 2: S (sale) · 51,166 Class A ordinary shares at $126.54 · Aug 11, 2026 · disposed, indirectly, By BVI entity · 1,283,798 held after · footnotes F1 and F3
Line 3: S (sale) · 105,476 Class A ordinary shares at $127.59 · Aug 11, 2026 · disposed, indirectly, By BVI entity · 1,178,322 held after · footnotes F1 and F4
Line 4: S (sale) · 170,922 Class A ordinary shares at $128.51 · Aug 11, 2026 · disposed, indirectly, By BVI entity · 1,007,400 held after · footnotes F1 and F5
Line 5: S (sale) · 89,543 Class A ordinary shares at $129.49 · Aug 11, 2026 · disposed, indirectly, By BVI entity · 917,857 held after · footnotes F1 and F6
Line 6: S (sale) · 374,548 Class A ordinary shares at $130.67 · Aug 11, 2026 · disposed, indirectly, By BVI entity · 543,309 held after · footnotes F1 and F7
Line 7: S (sale) · 254,859 Class A ordinary shares at $131.27 · Aug 11, 2026 · disposed, indirectly, By BVI entity · 288,450 held after · footnotes F1 and F8
Footnote F1: The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by the Reporting Person on September 10, 2025.
Footnote F2: Represents the weighted average price of shares sold at prices that ranged from $125.02 to $126.01. 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 $126.02 to $127.01.
Footnote F4: Represents the weighted average price of shares sold at prices that ranged from $127.02 to $128.01.
Footnote F5: Represents the weighted average price of shares sold at prices that ranged from $128.02 to $129.01.
Footnote F6: Represents the weighted average price of shares sold at prices that ranged from $129.02 to $130.01.
Footnote F7: Represents the weighted average price of shares sold at prices that ranged from $130.02 to $131.018.
Footnote F8: Represents the weighted average price of shares sold at prices that ranged from $131.02 to $131.86.
Remarks: This Report includes only the securities that the Reporting Person may be deemed to beneficially own in accordance with Rule 16a-1. This report does not include Class A ordinary shares over which the Reporting Person has no pecuniary interest but has voting power due to irrevocable voting proxies from the respective owners of such shares (including certain directors and employees of the Issuer, certain affiliates of employees of the Issuer, and Garena ESOP Program (PTC) Limited).