Gil Shwed sells over $200 million in Check Point stock, nearly a year after CEO exit
The cybersecurity pioneer remains executive chairman and largest shareholder, with his remaining 24.6% share currently worth over $5 billion.
Gil Shwed, the founder and longtime CEO of Israeli cybersecurity company Check Point, has sold more than $200 million worth of shares in the company, nearly a year after handing over the CEO role to Nadav Zafrir.
According to a filing with the U.S. Securities and Exchange Commission, Shwed, who now serves as Check Point’s executive chairman, held 24.6% of the company’s share capital at the end of the third quarter, down from 25.2% in the previous quarter. The reduction marks a continuation of a gradual sell-off that has spanned several quarters.
The sale amounts to just over one million shares, worth about $205 million based on the stock’s average trading price during the period, or up to $235 million if sold at the quarterly peak. Despite the divestment, Shwed remains Check Point’s dominant shareholder, with 26.8 million shares valued at approximately $5.2 billion. The Nasdaq-listed company is currently valued at $20.8 billion.
Related articles:
The sale comes during a period of consolidation under new leadership. Nadav Zafrir, who took over as CEO in December 2024, has sought to position Check Point for a new phase of growth after years of stability under Shwed.
Shwed co-founded Check Point in 1993 alongside Shlomo Kramer and Marius Nacht. Over three decades, he transformed the company from a startup into one of the world’s most recognized cybersecurity firms, pioneering firewall technology that became a foundation for enterprise protection. His tenure made him the longest-serving CEO on Nasdaq before his move to the chairman’s role.
