Sea Ltd: president Feng Zhimin exercised 1,000,000 shares

What happened

• Feng Zhimin, president, exercised 1,000,000 in-the-money options at $15.00 on Oct 21, 2026, resulting in an acquisition of 1,000,000 shares for $15,000,000.
• The same filing reports a disposal of 1,000,000 shares on Oct 21, 2026 at $0.00 (reported as a derivative disposition).

Key details

• Transaction dates and prices: Oct 21, 2026 — exercised 1,000,000 shares at $15.00 (acquired) for $15,000,000; Oct 21, 2026 — disposed 1,000,000 shares at $0.00 (derivative).
• Shares owned after the transaction: not reported in the filing.
• Footnote F1: the share options were granted on Feb 28, 2018 and are fully exercisable.
• Filing date: Oct 23, 2026. No late filing is indicated in the reported filing.

Why it may matter

• The filing reports an option exercise and a same-date disposal of an equal number of shares at $0.00; the filing shows the disposal proceeds as $0.00.
• Transaction types reported: option exercise (M) and a derivative disposition.
• The filing does not show why the insider traded or why the company acted.