Hou Tianyu 4

What Happened

• Hou Tianyu, Chief Financial Officer of Sea Ltd (SE), sold a total of 10,000 shares in open-market transactions on June 18, 2026. The sales were in three blocks: 1,687 shares @ $89.66 (≈ $151,256), 7,097 shares @ $90.91 (≈ $645,188), and 1,216 shares @ $91.53 (≈ $111,300), totaling about $907,744. These were sales (not purchases or option exercises).

Key Details

• Transaction date: 2026-06-18 (reported on Form 4 filed 2026-06-23).
• Prices/ranges: reported block prices as above; filing footnotes state sales occurred across price ranges $89.20–$90.19, $90.22–$91.19, and $91.21–$91.99 with weighted averages, and the filer can provide per-price breakdown upon request.
• Plan: Sales were made pursuant to a Rule 10b5-1 trading plan adopted March 19, 2026 by a BVI entity controlled by the reporting person (footnote).
• Shares owned after transaction: not disclosed in the provided filing extract.
• Timeliness: Form 4 was filed June 23 for trades on June 18 — this appears to be outside the standard two business‑day Form 4 reporting window (i.e., a late filing), which reduces near‑term transparency.

Context

• Because the sales were executed under a pre-established 10b5-1 plan, they are likely prearranged trades rather than ad hoc insider sales; Form 4 sales are common and do not by themselves indicate management sentiment. Retail investors should note the filing timing and that purchases (which can be more informative) did not occur here.