Coupang, Inc. has announced that its founder and CEO, Bom Kim, initiated a pre-arranged stock trading plan several months ago, following SEC Rule 10b5-1 guidelines and Coupang’s policies on stock transactions. Under this plan, Kim may sell up to 15 million shares of Coupang Class A Common Stock, adhering to specific conditions and pricing parameters, beginning November 11, 2024. This structured plan helps executives conduct stock transactions without discretion over timing when they have no material, non-public information.
The trading plan is set to end when either all 15 million shares are sold or by August 29, 2025, whichever comes first. Kim’s decision to adopt the plan was influenced by significant financial needs, including tax obligations. In addition, he intends to donate up to 2 million shares of Coupang Class A Common Stock to a charitable fund.
This sale represents less than 10% of Kim’s holdings, with his ownership remaining substantial at 157.8 million Class B shares if the planned sales are completed. This marks Kim’s first stock transaction since Coupang’s IPO in March 2021, and he has stated no plans for further transactions through the end of 2025.
About Coupang
Coupang is a technology-driven Fortune 200 company listed on the NYSE (CPNG), offering services across retail, food delivery, streaming, and fintech through brands such as Coupang, Coupang Eats, Coupang Play, and Farfetch.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, reflecting expectations about Mr. Kim’s future stock transactions. Actual outcomes may vary due to factors like stock price fluctuations, legal restrictions, or modifications to the plan. For details on potential risks, please refer to Coupang’s latest Annual Report on Form 10-K and subsequent filings.
