Search
Square Inc. Begins Trading On The NYSE Following IPO
Jack Dorsey, CEO of Twitter and Square, on the floor of the New York Stock Exchange during Square's IPO on Thursday, Nov. 19, 2015. Bloomberg Bloomberg via Getty Images

Jack Dorsey’s Salary At Square Is Now $2.75

Mar 10, 2016

Square CEO and founder Jack Dorsey had a lot to be happy about on Wednesday. His payments company's earnings beat Wall Street estimates and it is projecting profitability—excluding certain costs—by the end of 2016.

But Square's recent progress has also come with a twist: Dorsey's salary has dropped to $2.75 from $6,000, according to a filing with the SEC on Thursday.

The new salary—merely enough to by a coffee—is symbolic for Square. The number, 2.75, is also the percentage that Square charges its merchants every time a credit card is swiped through one of Square's terminals.

Of course, Dorsey doesn't necessarily need a salary. His stake in Square and Twitter, where he also serves as CEO, is worth over $1 billion. He doesn't take a salary of consequence at Twitter either.

Square's shares (sq) fell 5.8% on Thursday trading to $11.33.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions