Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 5, 2023, the Board of Directors (the "Board") of Coupang, Inc. (the "Company") increased the size of the Board from seven to eight members and appointed Ambereen Toubassy as a director of the Company to fill the resulting vacancy, effective March 8, 2023. The Board also appointed her to serve on the Audit Committee of the Board effective upon her appointment to the Board.

In connection with her appointment, Ms. Toubassy was granted a restricted stock unit ("RSU") award covering 6,020 shares of the Company's Class A common stock under the Company's 2021 Equity Incentive Plan, entitled to vest in full on the earlier of the date of the next annual meeting of stockholders following the date of grant or the one-year anniversary of the date of grant. Ms. Toubassy is also eligible to participate in the Company's director compensation policy for non-employee directors, as follows: (1) an RSU award covering a number of shares of the Company's Class A common stock having a value of $300,000, on the date of each annual meeting of stockholders following which she will continue as a non-employee director, and (2) an RSU award covering a number of shares of the Company's Class A common stock having a value of $12,500 for service as a member of the Audit Committee of the Board. Ms. Toubassy also will enter into an indemnification agreement with the Company in the same form as its other directors have entered, which is filed as Exhibit 10.3 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on March 1, 2023.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses