• Sun. Apr 21st, 2024

Check Point CEO Gil Shvid Announces Retirement: 20F Report Reveals Decrease in Rewards Costs, Increase in Employee Count and Exercise of Options

BySamantha Nguyen

Apr 3, 2024
Gil Shvid’s salary cost came in at $18 million, slightly less than expected, but still substantial

Gil Shvid, CEO of cyber security company Check Point, announced his plans to retire from his position. The data was revealed in the 20F report for 2023, which showed that Shvid’s rewards cost $17.9 million in 2023, a decrease compared to previous years. In comparison, the cost of Shvid’s rewards in 2022 was $22.6 million and in 2021 it was $26.1 million. Over the past decade, Shvid received a cumulative total of $314.7 million in rewards, mostly in equity form.

In addition to Shvid, four other senior executives at Check Point received annual bonuses in 2023 with costs ranging from $1.8 million to $6.2 million each. Shvid currently owns over a quarter of Check Point’s shares, valued at almost $4.9 billion dollars. The company is traded on Nasdaq at a value of over $19 billion dollars, with no other interested parties besides Shvid.

The report also indicates that the number of Check Point employees increased by about 7% in 2023 to over 6,450 employees, with approximately 54% of them based in Israel. The employees are mainly involved in marketing and sales, business development and research and development activities among others such as support services and information systems management finance and operations.. In 2023, Check Point employees exercised options worth over $15 million and held around six million exercisable options at year-end with benefits worth over $385 million..

It is worth noting that the Globes system automatically filters out any expressions of violence or racism and will not be published on their site

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

Leave a Reply