“The sale was done strictly to cover tax obligations,” Grab said in a message in response to Bloomberg inquiries. “This is a common practice by executives of listed companies. Peter remains committed to the business.”
Oey joined Singapore-based Grab as CFO in April 2020 to lead the company’s financial operations. He previously served as CFO of LegalZoom.com Inc. and Mylife.com in the US. He held 2,280,755 Class A ordinary shares as of September 2022, according to an SEC filing at the time.
Shares of Grab have declined more than 70% since it merged with a US blank check company in late 2021. They’re down 1.9% this year.
