Metaplanet Cuts Executive Compensation Plan Amid Investor Backlash
Metaplanet, a Tokyo-listed company that has invested heavily in Bitcoin, has cut its executive compensation plan by 41% after facing investor backlash. The move aims to address concerns over dilution and bridge the trust gap between management and shareholders.
The company's Series 10 stock acquisition rights plan was initially introduced in December 2022 but ballooned significantly after Metaplanet pivoted to its aggressive Bitcoin accumulation strategy in April 2024. By June 30, 2026, the pool had expanded to 319,464,000 potential shares, nearly seven times its original size.
Shareholders criticized the plan's automatic adjustment mechanism, which allowed it to grow proportionally with every capital raise. The board has since frozen the stock option pool at its expanded level and imposed a five-year lock-up on any exercised shares.