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Gil Shvid’s salary cost was still substantial at just under 18 million dollars.

Byeditor

Apr 3, 2024

Gil Shvid, the CEO of Check Point, recently announced his intention to retire from his position. In 2023, he received rewards totaling 17.9 million dollars, a decrease compared to previous years. These rewards were detailed in Check Point’s extended report (20F) for the year. Shvid has consistently waived his salary and bonuses, except for the minimum wage required by law, with the majority of his rewards coming in the form of equity.

Over the past decade, Shvid has received rewards with a cumulative cost of 314.7 million dollars, mostly in equity rewards. He announced his intention to transition to the role of active chairman after serving as CEO for 30 years. In addition to Shvid, four other senior executives at Check Point received annual bonuses in 2023, ranging from $1.8 million to $6.2 million each.

Currently, Shvid owns over a quarter of Check Point’s shares, valued at almost 4.9 billion dollars. There is currently no other interested party in the company besides him. The company’s stock is trading near record levels on Nasdaq, valuing Check Point at 19.2 billion dollars.

The report also revealed that the number of employees at Check Point increased by 7% in the past year, reaching 6,450 employees. A large percentage of the employees are engaged in marketing, sales, and business development, as well as research and development. Employees also exercised options with an intrinsic value of $20 million in 2023, with 5.9 million exercisable options held at the end of the year.

Despite challenges in the global market, Check Point remains a solid company with a strong employee base and leadership team. The company continues to innovate and grow, with its stock performing well in the market.

By editor

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