- Ryanair shareholders approve O’Leary bonus scheme
- 60.7pc voted in favour, 39.3pc against
- O’Leary contract extended to April 2032
- Bonus could reach €150m if targets met
Ryanair shareholders have approved a new bonus scheme for Group CEO Michael O’Leary that could net him at least €150m, despite a 39.3pc shareholder revolt. The decision passed with 60.7pc of shareholders voting in favour of the remuneration plan. Under the newly approved agreement, O’Leary’s contract has been extended to April 2032, and he will be granted the option to purchase 10m shares at a strike price of €26.70 if he remains with the airline and hits targets including pushing Ryanair’s annual net profit past €4bn or driving the share price above €42 for 28 consecutive days.
O’Leary dismissed the pushback, calling the majority passing a ringing endorsement of the plan and pointing out that he will only benefit if he successfully doubles the current share price. The substantial investor rebellion followed recommendations from leading proxy advisory firms including ISS, which voiced concerns over the potentially very large scale of the payout.
This newly approved 2032 incentive scheme is separate from O’Leary’s prior 2019 incentive plan. He has already met the milestones for that deal and is on track for a separate €100m payout if he remains in his role until 2028. A spokesperson for Ryanair confirmed that the airline intends to continue consulting with its major institutional shareholders to better understand the reasons behind the high percentage of dissenting votes.
