SESea Ltd · Insider ownership research

Sea Ltd insiders sold $538M in the past 12 months. How much of their stake is that?

Insiders sold $538M in the past 12 months.99% was sold under disclosed trading plans, 1% with no plan disclosed. The largest seller, Gang Ye (COO, Director), sold $195M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 13, 2026 from SEC filings · covers Oct 14, 2025 to Oct 13, 2026

$4.5M

sold with no plan disclosed, past 12 months

99%

of sales were under disclosed trading plans, past 12 months

10 of 12

officers and directors sold shares, past 12 months

Latest filing: Filed Oct 9 for a sale from Oct 7 to Oct 8. Yanjun Wang sold 2K shares ($188K) under a disclosed plan. Filing

SEC ownership filings: 216 filed in the 12 months to Oct 13, 2026; 216 on record since Mar 18, 2026 · See the evidence

What stands out

Two directors sold $4.5M with no disclosed plan: Chen Heng ($2.4M) and Khoon KUOK ($2.0M). The filings don't state a reason.Chen Heng: largest such sale, Aug 14, 2026 · Khoon KUOK: largest such sale, Aug 18, 2026

Selling picked up in the last 90 days: officers and directors sold 2.76M shares, against an average of 764K per 90 days earlier in the period. Most of it was Xiaodong Li (1.14M shares in the last 90 days) and Gang Ye (1.00M shares in the last 90 days); 99% of these sales were under disclosed plans.Xiaodong Li: largest recent sale, Aug 11, 2026 · Gang Ye: largest recent sale, Aug 17, 2026

A share of stake is shown for 0 of the 10 officers and directors who sold. 12 are left out

i

Left out: Xiaodong Li, Gang Ye, Jingye Chen, Tianyu Hou, Feng Zhao, David Ma, Zhimin Feng, Yanjun Wang, Khoon KUOK, Chen Heng, Silvio Savarese and Sin Tan (share of stake is being verified).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Gang Ye

COO, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$195MDisclosed plan

Xiaodong Li

Chairman and CEO, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$147MDisclosed plan

David Ma

Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$117MDisclosed plan

Jingye Chen

CPO, Shopee

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$34.9MDisclosed plan

Yanjun Wang

CCO and GC

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$14.5MDisclosed plan

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planNo plan disclosedOne dollar scale for every month; the tallest bar is labeled

Recent activity

Past 30 days, Sep 14, 2026 to Oct 13, 2026

Oct 8, 2026Yanjun Wang sold 1K shares ($93K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$93.21	n/a	n/a	Oct 8, 2026	Oct 9, 2026

Oct 7, 2026Yanjun Wang sold 1K shares ($95K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$94.91	n/a	n/a	Oct 7, 2026	Oct 9, 2026

Oct 6, 2026Yanjun Wang sold 1K shares ($96K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$96.27	n/a	n/a	Oct 6, 2026	Oct 7, 2026

Oct 5, 2026Yanjun Wang sold 1K shares ($97K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$97.27	n/a	n/a	Oct 5, 2026	Oct 7, 2026

Oct 2, 2026Yanjun Wang sold 1K shares ($95K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$95.15	n/a	n/a	Oct 2, 2026	Oct 5, 2026

Show all 19 events

Oct 1, 20262 executives sold 41K shares ($3.9M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Feng Zhao President of Garena	40,000	$95.02	n/a	n/a	Oct 1, 2026	Oct 5, 2026
Yanjun Wang CCO and GC	1,000	$95.06	n/a	n/a	Oct 1, 2026	Oct 5, 2026

Sep 30, 2026Yanjun Wang sold 1K shares ($98K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$97.67	n/a	n/a	Sep 30, 2026	Oct 1, 2026

Sep 29, 2026Yanjun Wang sold 1K shares ($98K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$98.43	n/a	n/a	Sep 29, 2026	Oct 1, 2026

Sep 28, 2026Yanjun Wang sold 1K shares ($99K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,000	$98.65	n/a	n/a	Sep 28, 2026	Sep 29, 2026

Sep 25, 2026Yanjun Wang sold 1.2K shares ($120K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,200	$100.04	n/a	n/a	Sep 25, 2026	Sep 29, 2026

Sep 24, 2026Yanjun Wang sold 1.2K shares ($122K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,200	$101.34	n/a	n/a	Sep 24, 2026	Sep 25, 2026

Sep 23, 2026Yanjun Wang sold 1.2K shares ($123K) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Yanjun Wang CCO and GC	1,200	$102.76	n/a	n/a	Sep 23, 2026	Sep 25, 2026

Sep 22, 20262 executives sold 31K shares ($3.2M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jingye Chen CPO, Shopee	30,000	$103.48	n/a	n/a	Sep 22, 2026	Sep 23, 2026
Yanjun Wang CCO and GC	1,200	$103.51	n/a	n/a	Sep 22, 2026	Sep 23, 2026

Sep 21, 20262 executives sold 31K shares ($3.2M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jingye Chen CPO, Shopee	30,000	$102.09	n/a	n/a	Sep 21, 2026	Sep 23, 2026
Yanjun Wang CCO and GC	1,200	$102.00	n/a	n/a	Sep 21, 2026	Sep 23, 2026

Sep 18, 20263 executives sold 51K shares ($5.2M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jingye Chen CPO, Shopee	30,000	$101.51	n/a	n/a	Sep 18, 2026	Sep 21, 2026
Gang Ye COO, Director	20,000	$102.01	n/a	n/a	Sep 18, 2026	Sep 21, 2026
Yanjun Wang CCO and GC	1,200	$101.33	n/a	n/a	Sep 18, 2026	Sep 21, 2026

Sep 17, 20264 executives sold 66K shares ($6.7M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jingye Chen CPO, Shopee	30,000	$101.52	n/a	n/a	Sep 17, 2026	Sep 21, 2026
Gang Ye COO, Director	20,000	$101.76	n/a	n/a	Sep 17, 2026	Sep 21, 2026
Tianyu Hou CFO	15,000	$101.62	n/a	n/a	Sep 17, 2026	Sep 21, 2026
Yanjun Wang CCO and GC	1,200	$101.55	n/a	n/a	Sep 17, 2026	Sep 21, 2026

Sep 16, 20263 executives sold 51K shares ($5.3M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jingye Chen CPO, Shopee	30,000	$104.13	n/a	n/a	Sep 16, 2026	Sep 17, 2026
Gang Ye COO, Director	20,000	$104.11	n/a	n/a	Sep 16, 2026	Sep 17, 2026
Yanjun Wang CCO and GC	1,200	$104.08	n/a	n/a	Sep 16, 2026	Sep 17, 2026

Sep 15, 20263 executives sold 51K shares ($5.3M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jingye Chen CPO, Shopee	30,000	$103.83	n/a	n/a	Sep 15, 2026	Sep 17, 2026
Gang Ye COO, Director	20,000	$103.83	n/a	n/a	Sep 15, 2026	Sep 17, 2026
Yanjun Wang CCO and GC	1,200	$103.84	n/a	n/a	Sep 15, 2026	Sep 17, 2026

Sep 14, 20263 executives sold 52K shares ($5.6M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jingye Chen CPO, Shopee	30,000	$107.94	n/a	n/a	Sep 14, 2026	Sep 15, 2026
Gang Ye COO, Director	20,000	$107.95	n/a	n/a	Sep 14, 2026	Sep 15, 2026
Yanjun Wang CCO and GC	1,500	$108.32	n/a	n/a	Sep 14, 2026	Sep 15, 2026

"% of total stake" is the shares in an event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings are not confirmed, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Common questions

Is the Sea Ltd CEO selling stock?

Yes. Xiaodong Li sold 1.14M shares ($147M) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are Sea Ltd insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 99% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 0.8% had no disclosed plan. A trading plan schedules sales in advance.

Are any Sea Ltd insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold10 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Gang Ye COO, Director	$195M 1.89M shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Xiaodong Li Chairman and CEO, Director	$147M 1.14M shares	Not confirmed share of stake is being verified. Why	Disclosed plan
David Ma Director	$117M 1.33M shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Jingye Chen CPO, Shopee	$34.9M 340K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Yanjun Wang CCO and GC	$14.5M 143K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Zhimin Feng President	$11.4M 92K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Tianyu Hou CFO	$7.5M 70K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Feng Zhao President of Garena	$5.8M 56K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Chen Heng Director	$2.4M 20K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Khoon KUOK Director	$2.0M 17K shares	Not confirmed share of stake is being verified. Why	No plan disclosed

The full ownership picture0 of 12 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider	Held Oct 13, 2025	Sold	Held Oct 13, 2026	Still held
Xiaodong Li ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for Xiaodong Li are complete. Chairman and CEO, Director	n/a	−1.14M	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Xiaodong Li Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Xiaodong Li are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Gang Ye ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Gang Ye are complete. COO, Director	n/a	−1.89M	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Gang Ye Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Gang Ye are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Jingye Chen ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jingye Chen are complete. CPO, Shopee	n/a	−340K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Jingye Chen Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jingye Chen are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Some sales match sales reported by Yanjun Wang exactly (date, shares and price). Possibly the same shares reported by both; the filings don't confirm it.
Tianyu Hou ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Tianyu Hou are complete. CFO	n/a	−70K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Tianyu Hou Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Tianyu Hou are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Feng Zhao ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Feng Zhao are complete. President of Garena	n/a	−56K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Feng Zhao Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Feng Zhao are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
David Ma ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for David Ma are complete. Director	n/a	−1.33M	n/a	n/a
Vesting, gifts, unvested awards and holding lines for David Ma Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for David Ma are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Zhimin Feng ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Zhimin Feng are complete. President	n/a	−92K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Zhimin Feng Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Zhimin Feng are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Yanjun Wang ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Yanjun Wang are complete. CCO and GC	n/a	−143K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Yanjun Wang Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Yanjun Wang are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts) Some sales match sales reported by Jingye Chen exactly (date, shares and price). Possibly the same shares reported by both; the filings don't confirm it.
Khoon KUOK ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Khoon KUOK are complete. Director	n/a	−17K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Khoon KUOK Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Khoon KUOK are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Chen Heng ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Chen Heng are complete. Director	n/a	−20K	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Chen Heng Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Chen Heng are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Silvio Savarese ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Silvio Savarese are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Silvio Savarese Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Silvio Savarese are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Sin Tan ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Sin Tan are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Sin Tan Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Sin Tan are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)

Holdings and share of stake for Sea Ltd are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$538M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $538M across 5,095,938 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $533M · 99%

1%

The lighter segment is sales with no plan disclosed in the filing ($4.5M), including tax-related sales outside a plan.

No plan disclosed · $4.5M

Sales with no 10b5-1 plan and no tax reference in the filing. $2.4M of it is Chen Heng. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Chen Heng, Aug 14, 2026

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Gang Ye COO, Director	1.89M	$195M	100%	36%	Mar 18, 2026 to Sep 18, 2026
Xiaodong Li Chairman and CEO, Director	1.14M	$147M	100%	27%	Aug 11, 2026 to Aug 28, 2026
David Ma Director	1.33M	$117M	100%	22%	Mar 18, 2026 to Apr 21, 2026
Jingye Chen CPO, Shopee	340K	$34.9M	100%	6%	Mar 18, 2026 to Sep 22, 2026
Yanjun Wang CCO and GC	143K	$14.5M	100%	3%	Mar 18, 2026 to Oct 8, 2026
Zhimin Feng President	92K	$11.4M	100%	2%	Aug 11, 2026 to Aug 28, 2026
Tianyu Hou CFO	70K	$7.5M	100%	1%	Jun 18, 2026 to Sep 17, 2026
Feng Zhao President of Garena	56K	$5.8M	100%	1%	Aug 11, 2026 to Oct 1, 2026
Chen Heng Director	20K	$2.4M	0%	0.5%	Aug 14, 2026 to Aug 14, 2026
Khoon KUOK Director	17K	$2.0M	0%	0.4%	Aug 18, 2026 to Aug 18, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$0	$0	$0	$0
Nov 2025	$0	$0	$0	$0
Dec 2025	$0	$0	$0	$0
Jan 2026	$0	$0	$0	$0
Feb 2026	$0	$0	$0	$0
Mar 2026	$13.2M	$13.2M	$0	$0
Apr 2026	$132M	$132M	$0	$0
May 2026	$20.5M	$20.5M	$0	$0
Jun 2026	$20.6M	$20.6M	$0	$0
Jul 2026	$51.7M	$51.7M	$0	$0
Aug 2026	$232M	$227M	$0	$4.5M
Sep 2026	$64.0M	$64.0M	$0	$0
Oct 2026	$4.4M	$4.4M	$0	$0

Known gaps and uncertainty12 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Sea Ltd are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology216 filings on record, 216 filed in the 12-month period, and how we read them

All 216 Forms 3, 4 and 5 on record for Sea Ltd (SEC CIK 1703399), filed from Mar 18, 2026 to Oct 9, 2026; 216 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 13, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.