IREN Ltd 8-K

What Happened
IREN Limited announced that on June 30, 2026 its Board approved the grant of 9,099,328 restricted stock units (RSUs) to each of its Co-Chief Executive Officers, William Roberts and Daniel Roberts. The awards will be granted on or about July 1, 2026 and were approved unanimously by the independent directors after review by the Compensation Committee and its independent compensation consultant.

Key Details

• Each Co-CEO: 9,099,328 RSUs (awarded June 30, 2026; grant ~July 1, 2026).
• Vesting/holding: RSUs vest in equal annual installments over four years, plus an additional two-year post-vesting holding period for each tranche — a combined six-year vesting/holding timeframe. The final tranche’s holding period extends into the Company’s 2033 fiscal year.
• No further equity grants to either Co-CEO until the Company’s 2031 fiscal year.
• Awards will be issued under the IREN Limited 2025 Omnibus Incentive Plan; the award agreement and plan text will be filed in the Company’s next periodic report.

Why It Matters
These grants are intended to retain and incentivize the Co-CEOs and align their interests with long-term shareholder value by tying compensation to a multi-year schedule and extended holding periods. For investors, the key takeaways are governance oversight (independent directors and consultant involvement), the long lock-up through 2033 for the final tranche, and potential future accounting expense and share dilution when the RSUs settle under the Omnibus Plan. The Company will provide the full award agreement and plan details in a subsequent SEC filing.