The stock award to founders Daniel and William Roberts equals roughly 5% of the company, vests and must be held over six years, and bars additional equity grants through fiscal 2031.
IREN awarded 18.2 million restricted stock units worth about $700 million to co-CEOs Daniel and William Roberts, a grant equal to roughly 5% of the company that will vest and remain subject to holding requirements over six years. The board approved 9,099,328 units for each brother, and neither executive can receive another equity grant before fiscal 2031. The company also reported fiscal second-quarter 2025 revenue of $184.7 million and a net loss of $155.4 million, adding fresh financial context to a compensation package that has drawn scrutiny. Earlier disclosures had described the award as vesting over four years with each tranche subject to a two-year sale restriction, while the latest update frames the structure as vesting and being held over six years. The timing intersects with IREN’s founder-control structure and broader strategic shift. The former Macquarie bankers founded IREN in 2018, and after the company’s 2021 Nasdaq listing, each retained one B Class share carrying 15 votes for every ordinary share they own, according to the IPO prospectus. In August, each founder held 2.3% of the equity but 21.8% of the vote, for a combined voting stake of nearly 44%, IREN’s proxy showed. Those dual-class voting rights are set to expire around November 2033, as IREN also pushes deeper into AI compute alongside its Bitcoin mining business.