Metaplanet Faces Shareholder Backlash Over Executive Stock Options

Japanese-listed BTC-focused investment firm Metaplanet faces backlash from some shareholders over its newly approved executive stock option program. The controversy centers on the company's tenth executive stock option scheme, which allocates options equivalent to 20% of fully diluted shares and is designed to increase alongside new share issuances for Bitcoin acquisition funding. Some shareholders have urged cancellation of the newly included 273 million-share equivalent options and greater transparency in decision-making processes, warning that ongoing dilution could erode existing shareholder value. CEO David Bailly of Bitcoin Magazine defended the plan, stating a five-year allocation of 20% of fully diluted shares for executives is not significantly outside standard practice. Shareholder criticism regarding executive compensation levels and continued dilution risks persists.