IREN’s massive retention package puts billionaire status in reach for co-CEOs
Already among the country’s highest paid executives, Dan and Will Roberts could secure an extra $572 million as their board looks to lock them in for another four years amid a talent war.
The Sydney brothers at the helm of Nasdaq-listed data centre operator IREN are on track to earn billionaire status after securing a mammoth USD394.2 million ($568 million) incentive package amid a fierce talent war.
Already among the highest paid Australian executives, co-CEOs Dan and Will Roberts’ existing shares in the company were worth around USD600 million each before the grant of the new stock awards, which will vest over four years and cannot be sold for a further two years after vesting. No new incentives will be paid to either until 2031.
An IREN spokesperson told Capital Brief that the package is “designed to attract, retain, and motivate high-calibre leaders while aligning compensation with the creation of long-term shareholder value”.
On Thursday, the company also announced eight million ordinary shares would be allocated as incentives to employees.
