Coupang, which was listed on the New York Stock Exchange (NYSE) in the United States, announced on the same day that the restriction on the sale of about 34 million common stocks held by its employees will be lifted from the opening on the 18th. Coupang employees who hold treasury stocks will be able to sell the stock from that day.
The amount of cancellation of the sale restriction corresponds to 2% of the total number of shares (1,71.14 million shares).
Coupang said, “This is the choice to prioritize general employees over corporate executives and investors prior to the IPO. We have shortened the regular 180-day sale limit that should be applied to existing employees to 6 days.”
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These stocks will be released from the opening on the 18th, the 6th trading day from the IPO. The company’s executives (meaning executives and related persons pursuant to Article 16 of the U.S. Securities Exchange Act) are not subject to this early sale restriction.
All remaining shares subject to the sale limit agreement will continue to be subject to the sale limit period.