Sea Ltd (SE) CPO Chen Jingye Exercises Options, Sells 60,000 Shares

What Happened
Chen Jingye, Chief Product Officer (Shopee) at Sea Ltd (SE), exercised 150,000 stock options on 2026-09-16 at $15.00 per share (cash paid $2,250,000). Separately, Chen sold a total of 60,000 Sea shares in open-market transactions on 2026-09-15–09-16 for aggregate proceeds of approximately $6,238,789 (individual sale prices ranged roughly from $102.59 to $106.49). The filing shows an additional derivative disposition of 150,000 shares at $0 tied to the option exercise (see Key Details).

Key Details

• Transaction dates: open-market sales on 2026-09-15 and 2026-09-16; option exercise on 2026-09-16.
• Open-market sales: 60,000 shares sold in multiple lots at prices in the ~$102.59–$106.49 range; total proceeds ≈ $6,238,789.
• Option exercise: 150,000 shares exercised at $15.00/share; cash paid $2,250,000. Filing also shows a derivative disposition of 150,000 shares at $0 (likely a settlement/transfer related to the exercise; no proceeds reported for that line).
• Footnotes: sales were made pursuant to a Rule 10b5-1 trading plan adopted June 10, 2026 by a BVI entity controlled by the reporting person. Weighted-average price ranges for grouped sales are provided in the filing. The exercised options were granted Feb 28, 2018 and are fully exercisable.
• Shares owned after transaction: not specified in the provided excerpt of the Form 4.
• Filing timeliness: filing (accession 0001193125-26-393666) was made 2026-09-17 for transactions through 2026-09-16; the report does not appear to be late.

Context

• The reporting shows both an option exercise and sizable open-market sales. The derivative entry of 150,000 shares at $0 suggests a settlement step tied to the exercise (e.g., net-share settlement or transfer), not an open-market cash sale; the Form 4 does not report cash proceeds for that derivative disposition.
• The open-market sales were executed under a pre-established 10b5-1 plan, which is a common way insiders automate selling and may indicate the trades were pre-scheduled rather than ad hoc.