Gil Shwed's Check Point stake down in 2018

Gil Shwed  photo: Tamar Matsafi

According to Check Point's SEC filing, CEO Shwed sold shares to the tune of about $360 million last year.

For the first time in several years, Check Point Software Technologies Ltd. (Nasdaq: CHKP) co-founder and CEO Gil Shwed's stake in the company shrank in 2018. The company's US Securities Exchange Commission (SEC) filing shows that at the end of 2018, Shwed held 17.6% of the shares in Check Point, which compares with 18.9% at the end of 2017. This means that Shwed sold nearly 3.4 million of his Check Point shares last year. At Check Point's average share price over the year, the shares were worth some $360 million.

Check Point's share price ranged between $95.7 and $120.5 last year. It ended the year close to its price at the beginning of it, after reaching a peak in September. So far this year the share has traded on a rise, and at its current price of $114 the company's market cap is $17.9 billion. Shwed's current stake is worth $3.2 billion.

The number of shares held by Shwed has risen steadily in recent years because of the stock-based compensation he receives. For a long time Shwed has not received any salary beyond the legal minimum

Published by Globes, Israel business news - en.globes.co.il - on February 5, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Gil Shwed  photo: Tamar Matsafi
Gil Shwed photo: Tamar Matsafi
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