VanEck rates Metaplanet worst among top bitcoin treasuries on executive pay
- —Metaplanet's option pool is 14.7% of diluted shares, 3.7 times the average of nine other DAT companies
- —Top managers hold 8.2%, 10.4 times the average; the largest single executive package is 3.8%
- —Strategy and BitMine received "Good" ratings with pools of 2.0% and 3.2%, Forward Industries was "Acceptable" at 8.4%
- —VanEck: before cuts, Metaplanet passed on to shareholders only about 80% of the bitcoin it bought, with 20% absorbed by management dilution
Why it matters: The report increases pressure on bitcoin treasury corporate governance: investors may demand limits on option pools and tying pay to per-share metrics.
Source: The Crypto Times