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:

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