Coupang, Inc. (NYSE: CPNG) announced today that Bom Kim, Coupang’s founder and Chief Executive Officer, had adopted a pre-arranged stock trading plan (the “Plan”) several months previously in accordance with SEC guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the policies of Coupang regarding stock transactions, to sell up to 15,000,000 shares of Coupang Class A Common Stock, subject to certain terms and conditions, beginning no earlier than November 11, 2024.

Rule 10b5-1 allows corporate officers and directors to adopt pre-arranged stock trading plans that meet certain requirements when they do not have material, non-public information, to provide for the selling of up to a predetermined, fixed number of company shares under certain specified conditions. Because the sales under the Plan are subject to certain market pricing parameters and trading limitations, Mr. Kim will not have discretion over the exact number of shares that will be sold under the Plan.

Mr. Kim’s Plan will terminate the earlier of the sale of all 15,000,000 shares pursuant to the Plan or August 29, 2025. Mr. Kim entered into the Plan to satisfy significant financial requirements, including tax obligations.

Mr. Kim will also donate up to 2,000,000 shares of Coupang Class A common stock to a fund for future charitable donations.

Prior to the planned transactions noted above, Mr. Kim had not sold any shares of Coupang common stock since the closing of Coupang’s initial public offering on March 15, 2021.

These planned transactions represent less than 10% of Mr. Kim’s current ownership of 174,802,990 shares of Class B Common Stock. If Mr. Kim completes all the planned transactions, he will continue to own 157,802,990 shares of Class B common stock.

After the completion of these transactions, Mr. Kim does not intend to engage in any further share transactions through the end of 2025.