Harold Rogers, Coupang's interim representative, who is under police investigation on suspicion of perjury at a National Assembly hearing, will receive stock compensation worth 6.6 billion won.
Coupang Inc., Coupang's parent company, said on the 13th (local time) in a filing with the U.S. Securities and Exchange Commission (SEC) that Rogers met the conditions for a performance stock unit (PSU) award and will receive 269,588 shares of Class A common stock.
The award consists of 21,672 shares granted in March 2022 and 247,916 shares granted in April last year. Based on Wednesday's closing price of $16.98 for Coupang on the New York Stock Exchange (NYSE), the total award amounts to about $4,577,604 (about 6.58 billion won).
The shares will not be paid out in full immediately; the 2022 grant will be paid on the 1st of next month, and the shares granted last year will be distributed in four quarterly installments starting on July 1. However, each payment is conditioned on continued employment through the applicable vesting date.
If all shares are received, Rogers' total Coupang holdings will increase to 719,157 shares. The company did not disclose detailed terms such as specific performance criteria.
Meanwhile, at a National Assembly hearing in December last year, Rogers testified regarding suspicions of a Coupang personal data leak that "contact with the suspect and retrieval of the laptop were carried out under government instructions, including from the National Intelligence Service," but the National Intelligence Service denied this. Following a complaint by the Science. ICT. Broadcasting. and Communications Committee of the National Assembly, police have booked Rogers on suspicion of violating the National Assembly Testimony and Appraisal Act and are currently investigating.