Japanese Bitcoin treasury company Metaplanet is facing shareholder backlash over its 10th Series executive stock option pool. The plan was designed to equal 20% of the company’s fully diluted shares and automatically expanded as Metaplanet issued new shares to finance additional Bitcoin purchases. Shareholders say the changes created 273 million extra shares and are asking the company to cancel them and provide greater transparency about future decisions.

Bitcoin Magazine CEO David Bailey defended the arrangement, arguing that giving the team 20% of the cap table over five years is not an excessive figure. The dispute matters because dilution and insider equity allocations can affect existing investors’ ownership and confidence in a public company building its strategy around Bitcoin accumulation.

https://cointelegraph.com/magazine/metaplanet-equity-backlash-se-asia-crypto-funding-doubles-asia-express