Solana treasury firm SkyAI faces board challenge over equity plan

The fight is less about the compensation pool itself than about control of a listed vehicle whose main asset is a crypto treasury. A roughly 7.2% dilution request is the kind of routine governance item that becomes a proxy battleground once an outside acquirer and an organized shareholder group are already circling, since share issuance can shift voting math. What matters for the broader treasury-company model is whether shareholders treat equity plans as a red line when the balance sheet is token-denominated. Whether the challenge blocks the plan or becomes a broader contest for the board is the open question.