Metaplanet CEO Addresses Share Option Dispute Tied to Bitcoin Holdings

Metaplanet's CEO Simon Gerovich addressed criticism surrounding the company's Series 10 executive option plan, which has sparked controversy over its connection to major shareholder MMXX Ventures.

The plan was capped at 319,464,000 potential shares in August after removing an automatic adjustment mechanism that had amplified dilution for existing shareholders. Gerovich exercised 92,000 rights, adding 64,032,000 shares to his holdings under a five-year lock-up.

Gerovich acknowledged the company's past communication fell short and promised clearer explanations going forward. However, he did not commit to releasing MMXX's full ownership details or cancelling any of the remaining option rights.