JAPAN
Metaplanet’s executive stock pool sparks shareholder backlash
Japanese Bitcoin treasury company Metaplanet’s executive stock pool continues to draw shareholder backlash over stock dilution concerns.
Multiple shareholders objected across social media to Metaplanet’s 10th Series executive option pool, which was designed as 20% of fully diluted shares and automatically expanded as the company issued new shares to fund its Bitcoin (BTC) accumulation.
Some shareholders are now asking Metaplanet to cancel the additional 273 million shares created from the changes and to provide more transparency on future decisions.
Bitcoin Magazine CEO David Bailey defended Metaplanet and said that giving the team 20% of the cap table over five years “isn’t some crazy number” but many shareholders disagree.
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