Square founder and CEO Jack Dorsey has returned 10% of his stock to the company, reports Fortune.
Dorsey previously owned 30% of the company, and gave back 3% of his own volition.
Depending on the current estimates of the company’s valuation, this frees up some $US150 million of stock.
As Fortune explains, the move will not only help out existing employees eligible for further equity in the company, but will also help out new hires who will be able to get more stock options.
Given the relatively generous nature of the news, it’s only fitting that Dorsey made the announcement at the Square holiday party last weekend.