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

Check Point CEO Gil Shvid recently announced his intention to retire from his position. In 2023, he received rewards costing 17.9 million dollars, which was a decrease compared to previous years. The data was published in Check Point’s extended report (20F) for 2023. Shvid waived his salary and bonus, except for the minimum required by law, and the main part of his rewards was in the form of capital allocation.

In 2022, the cost of Shvid’s rewards was $22.6 million, and in 2021, it was $26.1 million. Over the last decade, Shvid has received rewards with a cumulative cost of 314.7 million dollars, most of which were in equity rewards. Shvid announced his intention to transition to the role of active chairman after 30 years as CEO.

In addition to Shvid, four other senior executives at Check Point received annual bonuses in 2023 at a cost ranging from $1.8 million to $6.2 million each. Shvid currently owns more than a quarter of Check Point’s shares, valued at almost 4.9 billion dollars. The company is traded on Nasdaq at a value of 19.2 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 6,450, with 2,672 of them in Israel

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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