Check Point Founder Reduced Stake to 17.6% in 2018, Netting $360 Million
Gil Shwed owned 27.81 million Check Point shares by the end of 2018, while at the end of the previous year, 18.9% of the company, or 31.183 million shares, were in his possession
11:0006.02.19
Gil Shwed, the founder and CEO of Nasdaq-listed network and cloud security provider Check Point Software Technologies Ltd., sold 3.372 million shares in 2018 for a combined total of $360 million, reducing his stake to 17.6%, according to filings with U.S. Securities Exchange Commission.
Gil Shwed. Photo: Nimrod Glickman Marius Nacht, one of the three co-founders of the company, held 6.8% of the company's shares until February 2018, when he sold 6.2 million shares, thereby reducing his stake in the company to 3.9%. He pocketed about half a billion dollars from the sale.
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Shwed owned 27.81 million Check Point shares by the end of 2018, according to the filing. At the end of 2017, 18.9% of the company, or 31.183 million shares, were in Shwed’s possession. The average share price in 2018 was $106.8.
Gil Shwed. Photo: Nimrod Glickman
The company published its fourth quarter results for 2018 last week, announcing annual revenues of $1.9 billion, up 3% from 2017.
