VanEck criticizes Metaplanet over executive dilution despite compensation cuts
VanEck said Metaplanet’s executive equity exposure remains well above its digital asset treasury peers, even after the company cut its potential share pool by 41%.
Asset manager VanEck has criticized Metaplanet's executive compensation structure, stating that the recent efforts by the Bitcoin treasury company to reduce shareholder dilution have not been sufficient. In a recent report analyzing compensation across the top 10 digital asset treasury companies, VanEck labeled Metaplanet's structure as "Bad," the only firm to fall into this category.
Metaplanet's equity plan amounts to 14.7% of fully diluted shares, with officer exposure of 8.2%, significantly higher than the peer average. The company's compensation structure is nearly four times higher than the peer average and roughly 10 times the average of its competitors. This disparity is attributed, in part, to Metaplanet's former compensation structure, which allowed its option pool to expand automatically with each share issued to fund Bitcoin purchases.
Despite cutting the pool by 41%, VanEck maintains that the changes are inadequate and recommends Metaplanet reverse the dilution and establish a shareholder-approved compensation plan.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
