In the heart of Silicon Valley, where the ebb and flow of stock prices often dictate the fortunes of tech employees, Jack Dorsey‘s fintech company, Block, is charting a different course. As we step into 2025, Block is rolling out a novel initiative for its U.S. employees: the choice between cash and stock compensation.

Under the banner of a “Pilot Choice Program,” Block is allowing its workforce to decide whether they want their compensation in the form of company equity or cold, hard cash. This move, as outlined in internal documents seen by Fortune, is described by Block as a commitment to “empowering employees by giving them greater control over their compensation, fostering a culture of trust and autonomy.”

This shift in compensation strategy comes at a tumultuous time for Block. The company has navigated through waves of layoffs, a volatile stock market, and internal restructuring. Despite a 30% increase in its stock price over the past year, closing at $91.94 in the latest session, Block’s shares are still well below their 2021 peak of $268.

The stock’s performance has been a sore point, especially for those who joined or received stock grants during more prosperous times. Employees from those years have seen the value of their equity diminish, leading to vocal discontent among the ranks. The new cash option is Block’s attempt to address this, aiming to enhance employee satisfaction and give the company a competitive edge in talent acquisition and retention.

Employees under this new plan can tailor their equity compensation, which traditionally vests over four years in the form of restricted stock units (RSUs). They can now convert any portion of these RSUs into cash, which will be part of their regular salary, not a lump sum payment. This cash equivalent would be based on the stock’s current price at the time of conversion. The same flexibility is offered with performance bonuses, with international employees expected to receive similar options in the following year.

This move to offer cash instead of stock is somewhat unprecedented among established tech giants. Typically, during times of stock depreciation, companies might offer additional stock grants to “top up” compensation, not shift entirely to cash. However, Block’s approach reflects a broader strategy shift under Dorsey’s more hands-on leadership. Over the past year, Dorsey, now officially titled “Block Head,” has not only navigated the company through layoffs and reorganization but also made pivotal decisions like capping hiring, ending performance improvement plans, and pulling back on international expansions.

The backdrop to these changes includes controversies like the association with Jay-Z, a Block board member, whose public image has been tarnished by his connections to Sean “Diddy” Combs, currently embroiled in legal issues.

Feedback from within Block has been cautiously optimistic. Two employees shared with Fortune their preference for cash over stock, citing the stability it brings compared to the unpredictable nature of stock value. While the cash option might not solve all morale issues, especially after recent layoffs, it’s seen as a positive acknowledgment of employee concerns regarding compensation.