Ryanair Holdings (RYAAY) said Monday its board concluded an agreement granting Group Chief Executive Michael O'Leary a one-time option to purchase 10 million ordinary shares under an extended contract through April 2032.
The executive will have the option to buy 10 million shares at 26.70 euros ($30.60) each if the company's stock price exceeds 42 euros for 28 consecutive days, or if its after-tax profit reaches 4 billion euros, the company said.
O'Leary stands to earn a share payout of at least 150 million euros from his next employment contract, the Financial Times reported Sunday, citing internal calculations.
The stock award would come on top of a base salary and a capped annual bonus intended to retain him in his position from 2028 to 2032, Ryanair said.
Ryanair shares were 0.3% higher in Monday premarket trading.
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