VanEck gives Metaplanet the only 'Bad' rating over executive pay scheme
- —Metaplanet's compensation pool is 14.7% of diluted shares versus 4.0% average for 9 other DATs
- —Management's equity stake is 8.2%, 10.4 times the average (0.8%)
- —After two revisions, potential shares were cut by 41.1% to 188.19 million
- —VanEck demands the cancellation of ~273 million shares and KPI linkage to BTC per share
Why it matters: VanEck's complaints about dilution at DAT companies could increase pressure on Bitcoin treasury stocks and their ability to raise capital.
Source: BITTIMES