Metaplanet CEO Simon Gerovich acknowledged on September 6 that the company had not adequately explained its Series 10 executive option plan or the structure connecting him to major shareholder MMXX Ventures. According to reports from crypto.news, Gerovich said the company has not done a good enough job of explaining this clearly and promised more communication about the company's decisions and long-term alignment. The CEO denied involvement in MMXX's investment or trading decisions, stating 'I have no involvement in its investment or trading decisions' and describing MMXX as separate from Metaplanet. Gerovich emphasized his commitment to transparency, stating 'I'm committed to transparency, and I'm committed to making sure that the company is transparent' and promised to 'make sure that the company is transparent' going forward.
Metaplanet fixed its Series 10 option pool at 319,464,000 potential shares after removing automatic adjustments on August 18, 2026. As reported by crypto.news, Gerovich exercised 92,000 rights on August 28, receiving 64,032,000 shares subject to a five-year transfer restriction. The exercise increased his direct ownership from 15,555,500 shares to 79,587,500 shares. The program was established before Metaplanet's Bitcoin treasury strategy, with the board approving issuance terms on December 28, 2022, and shareholders approving them at an extraordinary meeting on February 7, 2023.
Shareholders continue requesting MMXX ownership details and cancellation of 273 million additional reward-pool shares publicly. According to crypto.news, Gerovich said he is a 'significant but non-majority shareholder' in MMXX's parent company. The CEO acknowledged that the company's previous communication was insufficient and promised more transparency about the company's decisions and long-term alignment. However, Metaplanet has not published a complete beneficial-ownership table for MMXX's parent or a detailed account of Gerovich's economic participation in its transactions.
Metaplanet recently purchased 376 BTC as part of its Bitcoin treasury strategy, with the latest acquisition funded through equity issuances. According to the company's latest disclosure, the stock now trades with 382,506,040 ordinary shares outstanding, with ownership breakdown showing 5.55% for executives, 18.77% for Blockstream Capital Partners, 17.64% for Adam Back, 3.16% for TOBAM, 1.11% for UTXO Management, and 53.77% for public and other institutional holders. On a fully diluted basis, the company shows 477,977,121 shares. Alongside the purchase, Capital B reported a year-to-date BTC Yield of 2.17% and quarter-to-date figure of 0.31%, with year-to-date BTC Gain of 61.3 BTC and quarter-to-date equivalent of 9.9 BTC.
