The competition wasn’t decided, but the profit seems to be big
Even field employees without stock
To receive 2 million won per person
Coupang’s listing on the New York Stock Exchange (NYSE) showed that Coupang employees also benefited significantly. Many of the stock options (stock options) were given to employees, and the exercise price was 1.95 dollars per share (about 2,100 won), which is expected to result in a large margin when exercising options. Field employees who do not own stock will also receive free stock worth 2 million won per person.
According to the S-1 report filed by Coupang to the US Securities and Exchange Commission (SEC), Coupang employees were granted 65.7 million 3982 stock options. Stock options are the right to buy company stock at a fixed price (at a price) regardless of the market price. The average strike price for this stock option is $1.95 per share.
Since its inception, Coupang has given its employees stock options from as few as hundreds of weeks to tens of thousands of weeks. The initial stock option strike price is known to be less than $1. The number of Class A common stocks to be listed by Coupang and the offering price have not been determined. However, if the executives and employees exercise stock options in time for the stock price to rise after listing, it can make a huge profit.
Coupang also announced on the same day that it will distribute Coupang shares worth 100 billion won to front line employees, as stated in the S-1 report. Kang Seung, CEO of Coupang, said in an e-mail sent to employees this morning, “(per person), you will receive stocks worth about 2 million won.”
As of March 5, Coupang’s delivery staff, Coupang Friends, who are working at Coupang and its subsidiaries, employees who are always working in the distribution center, and other regular and contract employees with the lowest level 1~3. Excluding employees who have previously received Coupang shares, there are 45,000 to 50,000.
The stocks they receive are transfer-restricted conditional stocks (RSU) that can only be received by executives and employees who meet the conditions suggested by the company. It is a method of receiving 50% if you work for one year from the date you receive the stock, and 50% if you work for two years. Coupang plans to announce the number of shares each individual will receive.
Reporter Noh Yoo-jeong [email protected]
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