Ma David Y 4

What Happened
David Y. Ma, a director of Sea Ltd (SE), disposed of 259,166 shares in open‑market/private sales on April 16–17, 2026. The sales were executed in eight trades: 114,094 shares on Apr 16 (at prices $90.40, $91.33, $92.30, $93.05) for $10,350,825, and 145,072 shares on Apr 17 (at prices $90.57, $91.47, $92.34, $93.04) for $13,361,388 — total proceeds about $23,712,213 (weighted‑average ≈ $91.48/share). All transactions are reported as sales (routine disposals).

Key Details

• Transaction dates: April 16–17, 2026; Form 4 filed April 20, 2026.
• Total shares sold: 259,166; total proceeds: ~$23.7 million.
• Price ranges (per footnotes): roughly $89.83–$93.37 across the grouped trades; specific weighted‑average ranges are shown in the filing (F2–F9).
• Footnote F1: Shares were sold pursuant to a Rule 10b5‑1 trading plan adopted Dec 12, 2025 by a BVI entity controlled by an immediate family member who shares the Reporting Person’s household.
• Footnote F2: The filer notes they will provide, upon request, the number of shares sold at each separate price within the disclosed ranges.
• Shares owned after the transactions: not specified here — see the full Form 4 for post‑transaction holdings.

Context
Sales executed under a Rule 10b5‑1 plan are typically prearranged and often viewed as routine liquidity events rather than an immediate signal about company prospects. For retail investors, purchases usually carry clearer bullish signals than routine insider sales. Check the full SEC Form 4 for complete holdings, footnote details, and any follow‑up disclosures.