Metaplanet Cuts Executive Rewards by $220 Million

Metaplanet, the Tokyo-listed Bitcoin treasury company, has made significant changes to its executive compensation structure after concluding that later Bitcoin purchases created less value per share.

The company announced it will cancel $220 million in Series 10 stock acquisition rights, which is a reduction of 41.1% of the pool and 55.5% of the unexercised shares.

Metaplanet's CEO, Simon Gerovich, said the decision was made to rebuild trust with investors and ensure that executive rewards align with shareholder value.

The company will now tie executive compensation more closely to the quality of future capital raises, rather than solely on the number of Bitcoin purchased.