Twitter's Dorsey says to give a third of his stock to employee equity pool

Jack Dorsey, interim CEO of Twitter and CEO of Square, goes for a walk on the first day of the annual Allen and Co. media conference in Sun Valley, Idaho in this file photo from July 8, 2015. Twitter Inc. named interim Chief Executive Jack Dorsey as its permanent CEO October 5, 2015 and said he would remain head of fast-growing mobile payments company Square, potentially setting up a conflict of interests for the co-founder of both companies. REUTERS/Mike Blake/Files

Twitter Inc Chief Executive Jack Dorsey said he is giving a third of his stock in the company, about 1 per cent, to the employee equity pool.

This move is to "reinvest directly in our people," Dorsey, who was named as the company's permanent CEO earlier this month, said in a tweet on Thursday.

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.

— Jack (@jack) >October 23, 2015

Twitter could not be reached immediately for a comment outside regular business hours.