It would have gone up anyway just based on the workforce cuts, no? Also, I think it's better to look at the price over time rather than assume the pop from an announcement is the new baseline.

It's not that I think the guy is a saint or anything, but many CEOs conduct layoffs and write about how sad they are without making any financial sacrifice. So even a limited gesture of giving up ~30% of his potential gains this year is unusual by prevailing norms.