Metaplanet Cuts Remaining Stock Option Shares by 55.5% After Shareholder

Metaplanet has amended the terms of its executive stock option plan, reducing the number of remaining potential shares by 55.5% to 105.4 million and withdrawing a planned long-term incentive vehicle, according to CoinMarketCap.

The move follows concerns from shareholders over the potential dilution associated with the company’s 10th Series stock acquisition rights. Metaplanet disclosed the changes following a board resolution on September 11, 2026.

Metaplanet Reduces Potential Share Issuance

Under the revised terms, the number of shares markets underlying each stock option was reduced from 696 to 410. This lowered the total potential shares tied to the 10th Series rights from 319,464,000 to 188,190,000, a reduction of 41.1%.

After accounting for rights that had already been exercised, the remaining potential shares fell from 236.64 million to 105.37 million, representing the 55.5% reduction cited by CoinMarketCap. The exercise price remains 10 yen per share, while the existing lock-up continues through August 17, 2031.

Metaplanet also withdrew its previously fianancial announced plan to transfer part of the rights into a long-term incentive vehicle. The company said it would separately consider a new global talent reward system.

Shareholder Concerns Put Focus on Dilution

The revision comes after investors raised concerns about Metaplanet’s compensation structure and the potential effect of additional shares on existing shareholders. The stock option framework had previously allowed the potential share count to expand as the company’s issued share base increased.

Metaplanet’s August disclosure had capped the potential shares associated with the 10th Series at 319,464,000 and introduced a five-year lock-up for shares issued through the options. The latest amendment substantially reduces that potential issuance while retaining the existing exercise price.

For investors, the revision markets reduces the outstanding equity overhang associated with the executive option plan and addresses a key corporate-governance issue surrounding potential dilution. The next focus will be how Metaplanet structures any replacement long-term incentive program and how its revised stock option terms affect future shareholder dilution.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.