Coupang CEO Rogers files for sale of nearly $3.11M in company stock

Harold Rogers, currently acting CEO of Coupang's Korean division, has notified the US Securities and Exchange Commission of his intention to sell approximately 192,110 shares of Coupang Class A common stock. The filing, as of August 10, indicates a total value of US$3.11 million for these shares. Rogers received these shares as part of his compensation package from the company.

In April, he was awarded 213,884 restricted stock units (RSUs) valued at around US$4.05 million, with a vesting schedule spanning four quarters starting from July 1. Earlier in February, Rogers received an additional 269,588 shares following the achievement of conditions for a performance stock units (PSUs) award. By the end of this period, Rogers would have received a total of 214,089 shares.

The 192,110 shares he plans to sell account for approximately 90% of this total. Rogers is currently under scrutiny by Korean authorities for alleged perjury during National Assembly hearings, amidst other accusations. He previously claimed that Coupang acted on instructions from the National Intelligence Service and other government entities when it questioned a suspect in a data leak incident involving the company.

However, the National Intelligence Service has refuted these claims. The police investigation was prompted by a complaint from the National Assembly's Science, ICT, Broadcasting and Communications Committee.