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(Registrant’s telephone number, including area code)
____________________________________
Not
Applicable
(Former name or former address, if changed since last report)
____________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
i☐ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
i☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
i☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol(s)
Name of Each Exchange on Which Registered
iClass
A Common Stock, par value $0.0001 per share
iCPNG
iNew York Stock Exchange
Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company i☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the
Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 23, 2022, the Board of Directors of Coupang, Inc. (the “Company”) appointed Jonathan Lee to serve as Chief Accounting Officer and principal accounting officer, effective September 26, 2022. Mr. Lee succeeds Michael Parker, who is now the
Company’s Vice President, Investor Relations.
Mr. Lee, age 44, is a finance executive with over 20 years of international experience in the insurance and financial services industry. Since April 2021, Mr. Lee has served as Chief Accounting Officer at Trinet Group Inc. (“Trinet”) a payroll and benefits administration company, and prior to that role, he was Corporate Controller at Trinet from April 2019. Previously, Mr. Lee served as Senior Vice President, Deputy Chief Financial Officer at Arch Capital Services, a subsidiary of global insurance provider Arch Capital Group Ltd, from August 2017 through March 2019.
In connection with his appointment, Mr. Lee will receive a base salary of USD $350,000.00, subject to annual adjustment. Mr. Lee will be eligible for an annual incentive and long-term
compensation in accordance with applicable Company policy or programs. For fiscal 2022, Mr. Lee will receive restricted stock units with a grant date fair value of USD $1,836,000 vesting over four years. He will also receive a long-term cash incentive target award of USD $1,262,800 vesting over two years as long as he remains in continuous service for the Company during that time period.
Mr. Lee will be eligible to participate in employee benefit plans and programs generally available to the Company’s employees, including the Company’s health insurance. Mr. Lee will also be subject to the executive severance policy and eligible
to receive additional benefits provided under the Company’s executive benefits policy and certain relocation benefits from the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
