Metaplanet defends management compensation program amid shareholder concerns

Independent directors at Metaplanet have defended the company's management compensation program, stating that stock acquisition rights were purchased at market value during a period of financial crisis. The program, which accounts for approximately 12.5% of total shares, has faced criticism over potential dilution. Following backlash, Metaplanet reduced the potential share pool by 41% in September, effectively increasing the Bitcoin holdings per share by about 8.8%. The directors noted that shareholders previously approved the program with a significant majority in February 2023.