Gil Shwed sells Check Point shares for over $200m

Core Insights - Gil Shwed, the executive chairman of Check Point Software Technologies Ltd., holds a 24.6% stake in the company, making him the largest shareholder, although this is a slight decrease from 25.2% at the end of the second quarter [1] - During the third quarter, Shwed sold over 1 million shares, estimated to be worth approximately $205 million at average trading prices, or up to $235 million at peak prices [2] - As of the end of the third quarter, Shwed owned about 26.8 million shares valued at $5.2 billion, while Check Point's total market capitalization stands at $20.8 billion [2] Company Management - Gil Shwed transitioned from CEO to executive chairman in December 2024, with Nadav Zafrir taking over as CEO [3] - Shwed has primarily received equity compensation, waiving his salary except for the minimum legal requirement, leading to a gradual increase in his shareholding [3] - In 2024, Shwed's salary cost was reported at $14.4 million, a reduction from previous years where equity compensation ranged from $17.9 million to $26.1 million [3]