Woofun AI reports that Bitcoin mining firm IREN approved the issuance of 9,099,328 restricted stock units each to co-CEOs William Roberts and Daniel Roberts on June 30, based on an SEC 8-K filing. The total grant of 18,198,656 RSUs is valued at approximately $700 million, representing roughly 5% of the company’s float.

The equity incentives follow a six-year combined vesting and holding structure. Shares vest in equal installments over four years contingent on continued employment, followed by a two-year holding period prohibiting sales or transfers. Consequently, the executives will not receive additional equity until fiscal year 2031, with the final installment remaining locked until the end of fiscal year 2033.