Wang Yanjun 4

What Happened
Wang Yanjun, Chief Commercial Officer and General Counsel of Sea Ltd (SE), sold a total of 2,400 Sea ordinary shares in open-market transactions on July 20–21, 2026, for aggregate proceeds of approximately $255,274. The individual sales were: 574 shares at $105.75 ($60,701); 463 shares at $107.02 ($49,550); 163 shares at $107.66 ($17,549) — all on July 20, 2026 — and 937 shares at $106.00 ($99,322); 194 shares at $106.73 ($20,706); 69 shares at $107.91 ($7,446) — on July 21, 2026. These were disposals (sales), commonly routine in nature.

Key Details

• Transaction dates: July 20, 2026 and July 21, 2026.
• Trades and proceeds: 2,400 shares sold for total proceeds ≈ $255,274 (individual line items listed above).
• Price range reported across transactions: roughly $105.44 to $107.98 (weighted averages reported for grouped price ranges).
• Footnote: Sales were made pursuant to a Rule 10b5‑1 trading plan adopted March 26, 2026 by a BVI entity controlled by the reporting person (pre-arranged plan). The filing also includes weighted‑average price footnotes and states full per‑price breakdowns are available upon request.
• Filing: Form 4 filed 2026-07-22 (reported soon after the trades; no late filing indicated in the provided excerpt).
• Shares owned after transaction: Not specified in the provided excerpt.

Context
A Rule 10b5‑1 plan allows insiders to sell shares according to a pre-set plan and generally indicates the trades were pre-arranged rather than opportunistic reactions to recent news. For retail investors, purchases often carry more signal than routine, planned sales; these transactions should be interpreted as disposals made under a pre-existing plan rather than an explicit directional vote on company prospects.