Metaplanet Defends 188 Million-Share Management Option Plan…
By Abdelaziz Fathi
AI summary of the source article
Bitcoin treasury company Metaplanet defended its controversial executive stock-option plan, which grants CEO Simon Gerovich and four employees the right to buy 188 million shares at a steep discount. In response to investor concerns over shareholder dilution, the company reduced the option pool by 41% on September 11 and removed automatic adjustments tied to future equity issuances. Independent directors justified the structure as an early, risk-bearing investment by executives approved in 2023 before the firm shifted to its Bitcoin accumulation strategy.