Ye Gang 4

What Happened
Ye Gang, Chief Operating Officer and director of Sea Ltd (SE), disposed of a total of 10,000 shares on March 25, 2026 in open-market sales. The filing lists two dispositions: 9,997 shares at $80.60 each (proceeds $805,758) and 3 shares at $81.11 each (proceeds $243), for combined proceeds of approximately $806,001. These were sales (not purchases), which are often routine liquidations rather than an explicit buy/sell signal.

Key Details

• Transaction date: 2026-03-25; Form 4 filed 2026-03-26.
• Reported sale line items: 9,997 shares @ $80.60 = $805,758; 3 shares @ $81.11 = $243; total ≈ $806,001.
• Footnote F1: Shares were sold pursuant to a Rule 10b5-1 trading plan adopted Sept 4, 2025 by a BVI entity controlled by the reporting person.
• Footnote F2: The filing also notes a weighted-average price for shares sold in a range of $80.09–$81.07 and offers to provide per-price breakdowns on request.
• Shares owned after the reported transactions are not specified in the provided filing text.
• Transaction code: S (Sale). Filing does not indicate a late report; the Form 4 was filed the day after the transactions.

Context
A 10b5-1 plan lets insiders sell according to a pre-set schedule and is commonly used for orderly, non-discretionary disposals; it reduces (but does not eliminate) the interpretive weight of the sale as an active view on the company. For most retail investors, buys are generally more informative than routine sales; this report documents a modest, planned liquidation by an executive rather than an acquisition or option exercise.