Jack Dorsey is giving a third of his Twitter stock back to employees

Twitter CEO Jack Dorsey is giving about 1/3 of his stock in the company - an exactly 1% ownership stake - back to employees.

Dorsey announced this move, appropriately enough, via a pair of Twitter posts: Here, and here.

"I'm giving ~1/3rd of my Twitter stock (exactly 1% of the company) to our employee equity pool to reinvest directly in our people," Dorsey tweeted. "As for me: I'd rather have a smaller part of something big than a bigger part of something small. I'm confident we can make Twitter big!"

Based on Twitter's current closing price of $29.15 per share, Dorsey's just given over about $214 million worth of company stock back to employees. 

Better yet, Dorsey actually announced this to Twitter by posting the tweets while on stage in front of the company's employees:

 This move comes just over a week since Dorsey announced via SEC filing that he's given 15 million shares of Square, the payments company where he also serves as CEO, back to its employees, too. He's going to be giving back 40 million more Square shares back to employees, too.