Metaplanet directors push back against shareholder fury over a controversial executive payout plan
In this news:
Key takeaways
- Metaplanet reduced its potential share pool by 41% to 188.2 million shares.
- The changes improved fully diluted bitcoin per share by approximately 8.8%.
- Shareholders continue to raise questions about prior share exercises and MMXX Ventures.
Following shareholder criticism, Metaplanet on Sept. 11 reduced the potential share pool by 41% to 188.2 million, which the company said extinguished over $220 million in potential warrant value. It ended automatic adjustments for equity issued after Sept. 1, 2025, and added staggered exercise restrictions running through 2031. Shares already received through exercises remain locked up until August 2031.
The changes improved fully diluted bitcoin per share by approximately 8.8%, the company said. Exercised and unexercised rights represent approximately 12.5% of total shares, according to directors.
CEO Simon Gerovich, the only director holding the rights, did not participate in the review’s deliberations or resolutions, the directors said.
However, the letter does not address the 64 million shares Gerovich received by exercising rights in August, before the Sept. 11 reset, or concerns about MMXX Ventures. MMXX Ventures is a Metaplanet shareholder whose share sales and Gerovich’s personal economic interest in the entity have also drawn investor questions. Metaplanet has previously said those shares will not be returned because exercises were valid under the terms in force at the time.
Metaplanet shares closed 2% higher on Wednesday at 286 yen.
Share the article:
Trending News & Crypto World
.png)
Latest Crypto News
Top Trending Cryptocurrencies on The Market
Current Price
$0.8265
Market Cap
$730.4M 1.33%
24h Volume
$104.7M
Supplies
1.2B / 2.1B
Current Price
$0.02636
Market Cap
$718.9M 1.20%
24h Volume
$9.9M
Supplies
100.0B / 100.0B
Current Price
$2.246
Market Cap
$713.4M 2.40%
24h Volume
$58.0M
Supplies
329.5M / 400.0M
Current Price
$0.3767
Market Cap
$705.0M 10.90%
24h Volume
$35.0M
Supplies
1.9B / ∞
Current Price
$0.04198
Market Cap
$701.3M 10.41%
24h Volume
$21.0M
Supplies
24.0B / 24.0B
Current Price
$0.03501
Market Cap
$698.3M 9.58%
24h Volume
$10.6M
Supplies
38.1B / ∞
Current Price
$0.9987
Market Cap
$698.1M 0.04%
24h Volume
$1.9M
Supplies
699.0M / ∞
Current Price
$0.7150
Market Cap
$691.2M 1.22%
24h Volume
$54.3M
Supplies
965.4M / 1.0B
Current Price
$52.168
Market Cap
$672.3M 6.57%
24h Volume
$50.1M
Supplies
12.9M / 18.9M
Current Price
$0.007489
Market Cap
$644.5M 7.53%
24h Volume
$9.0M
Supplies
86.0B / 86.7B
Current Price
$1.192
Market Cap
$640.1M -0.01%
24h Volume
-
Supplies
537.2M / ∞
Current Price
$0.07916
Market Cap
$624.2M 2.40%
24h Volume
$79.3M
Supplies
10.0B / 10.0B