VanEck removes "Bad" rating on Metaplanet from governance report
- —VanEck removed the "Bad" rating from its analysis of executive pay at DAT companies
- —In the Sept. 18 report, Metaplanet was the only one of 10 firms rated "Bad"
- —Metaplanet cut shares tied to its 10th stock option program by about 41%
- —Independent directors said the ¥10 per-share price ignores option purchase costs and assumed risks
Why it matters: The dispute over DAT governance matters to investors assessing dilution risk in bitcoin treasury companies.
Source: CoinDesk Japan