[News Space=Reporter seungwon lee] Harold Rogers, Coupang's interim CEO in Korea, has been embroiled in controversy after receiving approval for approximately 6.6 billion won in performance-based stock awards (PSUs) amid a National Assembly investigation into perjury charges. Coupang Inc. disclosed in its Form 4 report filed with the U.S. Securities and Exchange Commission (SEC) that Rogers will receive 269,588 shares of Class A common stock.  

Compensation scale and comparative analysis

Rogers' PSUs this time consist of 21,672 shares granted in March 2022 and 247,916 shares granted in April 2025. Based on the closing price of $16.98 on the New York Stock Exchange on February 13, the total value is $4,577,604 (approximately 6.58 billion won). This represents a 22% decrease in quantity and 43% decrease in value compared to the 346,253 shares received in the previous year (valued at approximately 11.5 billion won at the time, based on the closing price of $22.7-$23.7).

The payment schedule is divided into four quarterly payments, starting March 1 for 2022 and July 1 for 2025, and vesting is applied when the employment conditions are met.

Background of stock price decline and performance link

Coupang's stock price plummeted 39% to $16.98 on November 29th of last year following the data breach. During this period, CEO Rogers sold 64,755 shares at an average price of $32.05 in September 2025, earning $2.07 million (approximately KRW 2.8 billion). However, the PSUs were granted based on prior performance requirements. While the compensation criteria were not disclosed in the SEC filing, it is believed to reflect Coupang's continued growth (revenue up 16% in the most recent quarter).

Legal Risks and Future Prospects

During a National Assembly hearing on December 30-31 of last year, CEO Rogers was indicted on charges of perjury and questioned a second time after claiming that contact with the suspect in the leak of information was directed by the National Intelligence Service. The police are investigating the violation of the National Assembly Testimony and Appraisal Act following a National Assembly complaint, and the NIS has denied the allegations. Despite this, the PSU approval was granted under conditions of employment, suggesting risk management capabilities. However, due to sales restrictions (1-2 years vesting), immediate liquidation is impossible.