Amnon Bar-Lev joined Check Point six years ago, and began exercising his options for shares last year.
New Check Point Software Technologies Ltd. (Nasdaq: CHKP) president Amnon Bar-Lev has sold $14.1 million (NIS 50 million) worth of shares since the beginning of the year. He sold $5.2 million worth of shares in 2010.
Bar-Lev joined Check Point six years ago, and began exercising his options for shares last year. He has sold $19.3 million worth of shares to date. He presumably exercised options he received under Check Point's employee option program of 2005, which had a strike price of $22.68 per share. Given the share subsequent price, he probably made a capital gain of around $30 per share on each option, or about $10 million altogether.
Check Point's share price rose 3.3% on Friday to $55.07, giving a market cap of $11.4 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on August 14, 2011
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