Metaplanet directors push back against shareholder fury over a controversial executive payout plan
Metaplanet’s independent directors defended the company’s 10th series of stock acquisition rights plan after shareholders raised dilution and governance concerns. The plan was amended on September 11, including a 41% reduction in the option pool and a lock-up schedule that extends through August 2031.
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Shareholders and Metaplanet’s governance watchers are the people most likely to notice this first, because the plan was defended publicly while questions about dilution remained active. The next visible change is the continued scrutiny of how the executive awards were structured and whether the amended terms are accepted as they stand.
Before the September 11 revision, the award pool was larger; after it, the pool was reduced by 41% and the remainder was set at 188.2 million shares with a lock-up schedule running through August 2031. That means the plan still exists, but the terms now include tighter limits than before.
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