Also he and the C-suite are foregoing their bonuses but giving them out to departing employees. Pretty decent.
The equity grant that they receive is often millions more than the salary and the company performance bonus.
I think forgoing the equity and instead adding it to the severance pool would be truly owning up to the decisions made by executive management.
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.