Metaplanet’s Bitcoin expansion puts executive share plan under scrutiny

Metaplanet’s rapid expansion into Bitcoin has drawn shareholder attention to the growth of its executive compensation plan. According to CryptoSlate, the Tokyo-listed company’s options pool increased as Metaplanet repeatedly issued equity to fund its Bitcoin purchases. The plan was initially linked to 46 million potential shares but has grown to 319 million shares, creating what the report describes as a substantial executive compensation windfall. Shareholders are seeking the cancellation of approximately 273 million potential shares that were added to management’s package. The dispute highlights how repeated equity issuance during Metaplanet’s Bitcoin strategy affected the scale of the executive options pool. The company’s Bitcoin-related financing and compensation arrangements are now at the center of the shareholder challenge.