The National Intelligence Service Has Denied That Claim

Harold Rogers, the interim CEO of Coupang's Korean operations, has notified the U.S. Securities and Exchange Commission of a proposed sale of over 190,000 shares of the e-commerce giant's stock. A filing reviewed on Monday showed that Rogers submitted a Form 144 stating his intention to sell 192,110 shares of Coupang Class A common stock, with a market value of US$3.11 million. The proposed sale was set to take place around Aug.

10, with J.P. Morgan Securities handling the transaction. Form 144 is a notice of a proposed stock sale required under U.S. securities law when executives or other company insiders seek to sell their shares. The shares covered by the planned sale were awarded to Rogers as stock-based compensation from Coupang.

According to a previous filing, Coupang granted Rogers 213,884 restricted stock units (RSUs) for Class A common stock in April, worth about US$4.05 million based on the share price at the time. The award was structured to vest in four quarterly installments beginning on July 1. In February, Rogers received 269,588 shares after meeting the conditions for an award of performance stock units (PSUs). The acquisition records for shares listed in Rogers' Form 144 show a total of 214,089 shares that vested between April 2025 and July 2026. The 192,110 shares that Rogers intended to sell represent about 90% of that amount.

Rogers is currently under investigation by the Korean police on suspicion of perjury before the National Assembly, among other allegations. During National Assembly hearings on Dec. 30 and 31, he claimed that Coupang was acting on instructions from the National Intelligence Service and other parts of the Korean government when it contacted and questioned a suspect in a massive leak of personal data at Coupang and recovered a laptop connected with the leak.

The National Intelligence Service has denied that claim. The police investigation was initiated following a complaint filed by the National Assembly's Science, ICT, Broadcasting and Communications Committee.