Metaplanet’s independent director has responded to questions surrounding the company’s 10th series of executive stock warrants, saying the instruments were not granted for free. According to the response, the team purchased the warrants at fair value at a time when the company’s financial condition was uncertain, meaning the investment carried real downside and could result in losses.
The director argued that focusing only on the exercise price leaves out several material factors tied to the arrangement. Those include the amount already paid for the warrants, the risks assumed by the buyers, a multi-year vesting schedule, and later lock-up and exercise restrictions. The remarks were cited by Bitcoin Treasuries and relayed in a newsflash published by Odaily.
Metaplanet’s independent director has addressed criticism tied to the company’s 10th series of executive stock warrants, saying the warrants were not issued free of charge.
According to the response, the team bought the warrants at fair value while the company’s financial condition was uncertain. The director said the investment could also lead to losses.
The director added that looking only at the exercise price ignores other parts of the arrangement, including the amount already paid, the risks involved, a multi-year vesting period, and subsequent lock-up and exercise restrictions.
The remarks were cited by Bitcoin Treasuries.
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