Metaplanet faces shareholder backlash over executive stock options

Metaplanet, a Japan-listed company pursuing a Bitcoin accumulation strategy, is facing pushback from some shareholders over a large executive stock option package, Cointelegraph reported. The controversy centers on Metaplanet’s 10th executive stock option plan, which was structured at 20% of fully diluted shares. Under the plan, the size of the options granted to management would also rise if the company issues more new shares to fund Bitcoin purchases. Some shareholders argued this could keep diluting the value of existing holdings and called for the cancellation of options tied to 273 million newly added shares during the revision process, along with greater transparency around the related decision-making procedures. In response, Bitcoin Magazine CEO David Bailey argued a compensation plan allocating management a 20% fully diluted stake over five years was not far outside normal practice. Criticism has continued among some shareholders over the scale of executive compensation and the ongoing risk of share dilution.