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      Metaplanet CEO Addresses Shareholder Concerns Over Equity Incentive Plan

      Simon Gerovich, CEO of Bitcoin Reserve Company Metaplanet, has responded to ongoing concerns regarding the company's equity incentive plan and its relationship with MMXX Ventures. In a recent post on the X platform, Gerovich acknowledged that the company did not sufficiently clarify the details of the 'Series 10 Stock Options' incentive arrangement. He emphasized that he is a significant but non-controlling shareholder of MMXX's parent company and is not involved in its trading decisions.

      The controversy originated from a stock rights plan implemented in December 2022, which allocated a reward pool of 20% of Metaplanet's fully diluted equity. Following a strategic shift to a Bitcoin reserve model in April 2024, the company has been diluting existing shareholders with each new share issuance, while Gerovich's option rights have increased. On August 18, the board fixed the Series 10 pool at 319 million shares and established a five-year lock-up period, but did not restore the reward pool to its previous level prior to the Bitcoin strategy's initiation.

      On August 28, Gerovich exercised 92,000 Series 10 options, acquiring 64 million new shares, which brought his total ownership to approximately 6.2% of the company. Together with MMXX, he holds over 27% of the fully diluted equity. Shareholders have expressed their dissatisfaction, with one, known as The Bitcoin Pharaoh, stating that while the adjustments made in August were a positive development, there are still unresolved issues that need Gerovich's attention, including the disclosure of MMXX's ownership and the restoration of the reward pool.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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