IREN Limited (NASDAQ: IREN) announced that its Board of Directors approved the grant of 9,099,328 restricted stock units (RSUs) to each of its Co-Chief Executive Officers, William Roberts and Daniel Roberts, according to a company statement.

The grants, approved on June 30, 2026, and set to be issued on or about July 1, 2026, are subject to a six-year combined vesting and holding period. The RSUs will vest in equal annual installments over four years, followed by an additional two-year post-vesting holding period during which the Co-CEOs may not sell, transfer, or monetize the vested shares.

The approval was unanimous among the Board's independent directors and was made in consultation with the Compensation Committee's independent compensation consultant. The Compensation Committee reviewed alternative structures, including different grant sizes, performance-based arrangements, and varying vesting periods, before settling on the approved structure.

In connection with the grants, neither Co-CEO will receive an additional equity incentive grant until the company's 2031 fiscal year. The final vesting tranche will be subject to a holding period extending to the company's 2033 fiscal year.

The grants will be issued under IREN's 2025 Omnibus Incentive Plan and will be detailed in an exhibit to the company's next periodic report filed with the Securities and Exchange Commission.