Ma David Y 4

What Happened

• David Y. Ma, a director of Sea Ltd (SE), sold a total of 340,752 shares in open-market/private sale transactions on April 14–15, 2026. Sales ranged from about $85.36 to $91.05 per share across the transactions, producing aggregate proceeds of approximately $30.12 million.
• Individual trades included lots such as 57,200 shares at $85.74 ($4.90M), 53,174 shares at $90.44 ($4.81M), and multiple other blocks (see Form 4 for the full list). All transactions are coded S (sales).

Key Details

• Transaction dates: April 14–15, 2026; Filing date: April 16, 2026 (filed promptly).
• Price range and weighted-average notes: reported prices spanned roughly $85.36–$91.05. The filing includes footnotes (F2–F12) giving weighted-average prices and price ranges for grouped sales; one footnote (F2) notes the reporter will provide per-price breakdown on request.
• 10b5-1 plan: Footnote F1 states the shares were sold pursuant to a Rule 10b5-1 trading plan adopted by a BVI entity controlled by an immediate family member who shares the reporting person’s household (plan adopted Dec 12, 2025).
• Shares owned after the transactions: not specified in the information provided here—see the full Form 4 for post-transaction holdings.
• Transaction code: S = Sale. No purchase, exercise, or award reported.

Context

• These were outright sales (not purchases or option exercises). Sales executed under a 10b5-1 plan are typically pre-arranged trades and are often routine liquidity or tax-management actions; they do not, by themselves, indicate the insider’s current view of the company’s prospects.
• For full details (per-price breakdowns, exact post-sale holdings, and the Form 4 text), consult the SEC filing (Accession 0001193125-26-157846).