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Photo = Coupang |
[Alpha Biz= Kim Jisun] Coupang Inc. disclosed that several of its senior executives sold shares worth approximately KRW 40 billion (USD 29 million) over a three-day period beginning September 10, according to filings with the U.S. Securities and Exchange Commission (SEC) on the 17th.
The share sales were reportedly conducted to fulfill tax obligations. Coupang Inc. is the U.S.-based parent company that owns 100% of Coupang Corp. in Korea.
The SEC filing shows that three executives — Benjamin Sun, Pedro Franceschi, and Harold Rogers (Chief Administrative Officer) — disposed of a combined 901,980 shares during the period, securing around USD 28.77 million (KRW 39.7 billion).
Benjamin Sun, an early investor in Coupang and a board member since 2010, sold 815,797 Class A common shares, generating proceeds of roughly USD 26.01 million (KRW 35.9 billion).
The transactions took place as Coupang’s share price approached a 52-week high, suggesting that the sales may also have been aimed at profit-taking.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
