Metaplanet Slashes Executive Pay Amid Investor Backlash
Metaplanet (MTPLF) has made significant changes to its executive compensation plan in response to investor criticism. The company's CEO forfeited approximately $123 million worth of Series 10 compensation shares, a move that underscores the post-criticism changes implemented by Metaplanet.
The Japanese Bitcoin treasury company announced amendments to its 10th series stock acquisition rights, including an equity reduction and lower dilution risk. The adjustment will result in fewer potential shares, from 188.19 million to 105.37 million shares, following the lowering of Series 10 share rights from 696 to 410 shares per right.
The changes are part of Metaplanet's efforts to address investor concerns and criticism over its executive compensation plan. The company will also hold a shareholder extraordinary general meeting on December 18 to discuss reclassification of capital stock, capital reserves, and the disposal of surplus. This move may allow Metaplanet to access more liquidity for future investments or dividend payouts.