IREN Limited just gave its two co-CEOs a combined compensation package worth roughly $800 million. The board approved over 18.2 million restricted stock units on June 30, split evenly between co-CEOs William and Daniel Roberts, with each receiving 9,099,328 RSUs.
The market’s reaction was swift and unflattering. IREN shares dropped approximately 5% in premarket trading on July 2, after closing at $43.32 the previous session.
The numbers behind the grant
At prevailing share prices between $43 and $44, the total RSU package carries an estimated value between $687 million and $800 million.
The RSUs come with a six-year vesting and holding period that extends into fiscal year 2033.
