Large long-term RSU grant for IREN (IREN) Co-CEO Daniel John Roberts

Rhea-AI Filing Summary

IREN Ltd director and Co-CEO Daniel John Roberts reported compensation-related equity awards and vesting events tied to Awassi Capital Trust #2. The filing shows acquisitions of ordinary shares at no cost through grants and vesting of restricted stock units rather than open-market purchases.

The fiscal 2027 RSU grant will vest in equal annual installments over four years, followed by a two-year post-vesting holding period, creating a combined six-year vesting and holding timeline that extends to fiscal year 2033 for the final installment. Because of this long-term award, Roberts will not receive further equity incentive awards until the company’s 2031 fiscal year.

Insights

Equity compensation analyst

Large multi-year RSU grant and vesting, structured as long-term pay, looks neutral for shareholders.

The transactions for Daniel John Roberts involve two acquisitions labeled as grants or awards of ordinary shares via restricted stock units at $0.00 per share. These are compensation-related events, not open-market buying or selling, and therefore carry weak signaling value about his short-term view of IREN Ltd.

The filing notes a fiscal 2027 RSU grant that vests annually over four years, then remains subject to a two-year post-vesting holding period, extending the final installment to fiscal 2033. It also reflects vesting of TSR performance RSUs previously granted, linking part of compensation to total shareholder return outcomes.

After these events, indirect holdings through Awassi Capital Trust #2 are reported at more than 23 million ordinary shares, and Roberts disclaims beneficial ownership beyond his pecuniary interest. The scale and structure emphasize long-term alignment but do not, by themselves, change the investment thesis.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Roberts Daniel John

Role Co-Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Ordinary Shares	9,099,328	$0.00	--
Grant/Award	Ordinary Shares	552,197	$0.00	--

Holdings After Transaction: Ordinary Shares — 23,089,024 shares (Indirect, By Awassi Capital Trust #2)

Footnotes (1)

1. Represents a grant of restricted stock units ("RSUs") for fiscal year 2027 that will vest in equal annual installments over a four-year period following the grant date subject to the Reporting Person's satisfaction of applicable vesting conditions. As a result of the grant of RSUs, the Reporting Person will not receive any further equity incentive awards under the Issuer's equity incentive program until the Company's 2031 fiscal year. The grant is subject to a combined six-year vesting and holding period; following the vesting date of any RSUs, the RSUs will be subject to a two-year post-vesting holding period which will extend to fiscal year 2033 for the final installment, during which the Reporting Person generally may not sell, transfer, or otherwise monetize the vested RSUs. Represents ordinary shares of IREN Limited and restricted stock units held through the Awassi Capital Trust #2, of which the Reporting Person has control over the trustee. The Reporting Person disclaims beneficial ownership of the ordinary shares and restricted stock units, except to the extent of his pecuniary interest therein. Reflects the vesting of an outstanding award of TSR performance RSUs previously granted to the reporting person.

Key Figures

Awarded shares (transaction 1): 552,197 shares Awarded shares (transaction 2): 9,099,328 shares Holdings after transaction 1: 23,641,221 shares +3 more

6 metrics

Awarded shares (transaction 1) 552,197 shares Ordinary Shares acquired at $0.0000 per share as a grant/award

Awarded shares (transaction 2) 9,099,328 shares Ordinary Shares acquired at $0.0000 per share as a grant/award

Holdings after transaction 1 23,641,221 shares Ordinary Shares held indirectly through Awassi Capital Trust #2

Holdings after transaction 2 23,089,024 shares Ordinary Shares held indirectly through Awassi Capital Trust #2

RSU vesting schedule 4 years Fiscal 2027 RSUs vest in equal annual installments over four years

Post-vesting holding period 2 years Each vested RSU tranche has a two-year post-vesting holding requirement

Key Terms

restricted stock units ("RSUs"), TSR performance RSUs, post-vesting holding period, pecuniary interest, +1 more

5 terms

restricted stock units ("RSUs") financial

"Represents a grant of restricted stock units ("RSUs") for fiscal year 2027 that will vest in equal annual installments..."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

TSR performance RSUs financial

"Reflects the vesting of an outstanding award of TSR performance RSUs previously granted to the reporting person."

post-vesting holding period financial

"the RSUs will be subject to a two-year post-vesting holding period which will extend to fiscal year 2033 for the final installment"

pecuniary interest financial

"The Reporting Person disclaims beneficial ownership of the ordinary shares and restricted stock units, except to the extent of his pecuniary interest therein."

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of the ordinary shares and restricted stock units, except to the extent of his pecuniary interest therein."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 04:44 PM Accepted by SEC EDGAR 07/01/2026 - 04:44 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Roberts Daniel John

(Last) (First) (Middle)

C/O IREN LIMITED

LEVEL 5, 55 MARKET STREET

(Street)

SYDNEY C3 2000

(City) (State) (Zip)

AUSTRALIA

(Country)

2. Issuer Name and Ticker or Trading Symbol
IREN Ltd [ IREN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares	07/01/2026		A		9,099,328(1)	A	$0	23,089,024	I	By Awassi Capital Trust #2(2)
Ordinary Shares	07/01/2026		A		552,197(3)	A	$0	23,641,221	I	By Awassi Capital Trust #2(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a grant of restricted stock units ("RSUs") for fiscal year 2027 that will vest in equal annual installments over a four-year period following the grant date subject to the Reporting Person's satisfaction of applicable vesting conditions. As a result of the grant of RSUs, the Reporting Person will not receive any further equity incentive awards under the Issuer's equity incentive program until the Company's 2031 fiscal year. The grant is subject to a combined six-year vesting and holding period; following the vesting date of any RSUs, the RSUs will be subject to a two-year post-vesting holding period which will extend to fiscal year 2033 for the final installment, during which the Reporting Person generally may not sell, transfer, or otherwise monetize the vested RSUs.

2. Represents ordinary shares of IREN Limited and restricted stock units held through the Awassi Capital Trust #2, of which the Reporting Person has control over the trustee. The Reporting Person disclaims beneficial ownership of the ordinary shares and restricted stock units, except to the extent of his pecuniary interest therein.

3. Reflects the vesting of an outstanding award of TSR performance RSUs previously granted to the reporting person.

	/s/ Cesilia Kim, attorney-in-fact for Daniel J. Roberts	07/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did IREN (IREN) report for Daniel John Roberts?

IREN reported two acquisitions of ordinary shares for Daniel John Roberts via equity awards at no cash cost. These reflect grants and vesting of restricted stock units held through Awassi Capital Trust #2, rather than open-market purchases or sales of IREN shares.

What is the structure of the new RSU grant reported for IREN (IREN)?

The filing describes a fiscal 2027 RSU grant for Daniel John Roberts that vests in equal annual installments over four years. Each vested tranche is then subject to a two-year post-vesting holding period, creating a combined six-year vesting and holding timeline for IREN equity.

How long is the holding period on Daniel John Roberts’ IREN (IREN) RSUs?

After vesting, Roberts’ RSUs are subject to a two-year post-vesting holding period. For the final installment, this holding requirement extends through IREN’s fiscal 2033, limiting his ability to sell, transfer, or monetize the vested restricted stock units during that time.

Will Daniel John Roberts receive more equity awards from IREN (IREN) soon?

According to the filing, Daniel John Roberts will not receive additional equity incentive awards under IREN’s equity incentive program until the company’s 2031 fiscal year. The large fiscal 2027 RSU grant is intended to cover multiple years of long-term equity compensation.

How are Daniel John Roberts’ IREN (IREN) shares held and reported?

Ordinary shares and RSUs are held through Awassi Capital Trust #2, over which Roberts has control of the trustee. The filing states he disclaims beneficial ownership of these IREN securities, except to the extent of his pecuniary interest in the trust’s holdings.

What are TSR performance RSUs mentioned in the IREN (IREN) filing?

The filing notes vesting of an outstanding award of TSR performance RSUs for Daniel John Roberts. These restricted stock units vest based on total shareholder return performance criteria, aligning IREN equity compensation with shareholder value creation over the measurement period.