According to the press release, HealthStream CEO Bobby Frist Jr. will give away $2.25 million in company stock to more than 1,000 employees. He also offered an additional 7,113 shares worth approximately US$185,000 to cover management expenses.As of Thursday morning, HealthStream’s stock price was $26.17 per share

This gift is equivalent to 86,494 shares of the company, or HealthStream shares worth approximately $2,200 per employee. The group does not include any C-level executives.

“I am very happy to be able to make this contribution to allow our employees (many of whom have not previously participated in our equity plan) to become owners of the company they have helped build, and to join all of our stakeholders to jointly promote HealthStream Future success,” Frist said in a press release.

HealthStream is a Nashville-based healthcare employee management software provider with revenue of $244.8 million last year.

Frist owned more than 5.6 million HealthStream shares in March, valued at approximately US$158 million. According to the Nashville Post, last year, Healthstream paid Frist $335,000 in salary and approximately $265,000 in various forms of equity compensation.

This is not the first time Frist has given away his company stock to employees. In 2019, he donated $2 million in HealthStream stock to approximately 820 employees.