Former RTÉ finance chief Mari Hurley has been awarded conditional shares valued at nearly €325,000 in her new role as chief financial officer at Ireland’s largest residential landlord, Ires Reit. The stock exchange filing reveals that chief executive Eddie Byrne also secured an additional share award worth €73,384 as executive compensation structures adapt to a potential corporate takeover.
Share Awards Structured for New Leadership
Mari Hurley joined Ires Reit in January after stepping down from her position at the national broadcaster, where she spent less than 18 months as chief financial officer. Stock market disclosures from Ires Reit show Hurley received a conditional award of 299,260 ordinary shares valued at €1.086 each under the company’s long-term incentive plan. This grant equals 100 per cent of her annual base salary, which sits at approximately €325,000. Remuneration committee members approved the package in February, though public disclosure followed later.
Chief executive Eddie Byrne also received a conditional allocation of 67,573 ordinary shares valued at €1.086 apiece. This represents an extra 15 per cent of his base salary, lifting his total incentive package for 2026 to 150 per cent of his basic pay. Byrne earned a basic salary of €475,000 last year.
Barings International proposes cash offer for Ires Reit
Vesting conditions tied to Hurley’s near-€325,000 share package require the satisfactory attainment of stretching performance metrics over a three-year period running to the end of 2028. Similar milestones apply to Byrne’s additional allocation over the same timeframe.
However, these timeline milestones face potential acceleration due to corporate acquisition activity. Barings International proposed a cash offer of €1.386 per share for Ires Reit, valuing the residential landlord at approximately €726.9 million. Following this proposal, Ires Reit shares climbed to roughly €1.30. The company board stated it would be minded to recommend the deal if a formal offer materializes by the November 9th deadline set by the Irish Takeover Panel.
Under Ires Reit governance rules established in 2024, a change of company control triggers a board-determined vesting schedule for unvested awards. This mechanism allows for partial payouts that reflect completed portions of the performance period.
Prior to joining the private sector landlord, Hurley ranked as the sixth-highest paid person at RTÉ. Financial records released by the national broadcaster in July showed her total earnings reached €276,344 in 2025, a figure that included a basic salary of €240,910.
What happens to conditional share awards if takeover completes?
What happens to the conditional share awards if the Barings International takeover completes?
Completion of a takeover triggers a partial payout of the conditional shares awarded to both Mari Hurley and Eddie Byrne. Under company rules set in 2024, unvested awards vest as determined by the board, which can adjust rewards to reflect the proportion of the performance period completed.
What is the total value of the conditional share grants issued to the executives?
Mari Hurley received a conditional share award valued at close to €325,000, equivalent to 100 per cent of her annual base salary. Eddie Byrne received an additional conditional award of €73,384 in shares, representing 15 per cent of his base salary.
When must a formal takeover offer be submitted by Barings International?
The Irish Takeover Panel established a deadline of November 9th for Barings International to submit a formal cash offer of €1.386 a share, which the Ires Reit board indicated it would be minded to recommend.
How much did Mari Hurley earn previously at RTÉ?
Hurley earned €276,344 in total remuneration prior to her exit, which included a basic salary of €240,910, making her the sixth-highest paid person at the national broadcaster.
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