Check Point CEO Gil Shwed Holds 25.3% Stake, 29.7M Shares
Ticker: CHKP · Form: SC 13G/A · Filed: Feb 13, 2024 · CIK: 1015922
Complexity: simple
Sentiment: bullish
Topics: insider-ownership, ceo-stake, amended-filing
TL;DR
**CEO Gil Shwed still owns a quarter of Check Point, signaling strong insider confidence.**
AI Summary
Gil Shwed, the founder and CEO of Check Point Software Technologies Ltd., filed an amended SC 13G/A on February 13, 2024, disclosing his beneficial ownership of 29,744,539 ordinary shares, representing 25.3% of the company's stock as of December 31, 2023. This includes 24,884,539 shares he directly holds and 4,860,000 shares he can acquire through exercisable stock options. This matters to investors because it shows the CEO maintains a significant ownership stake, aligning his interests with shareholders and potentially signaling confidence in the company's future.
Why It Matters
High insider ownership, especially from a founder-CEO like Gil Shwed, often indicates strong confidence in the company's long-term prospects and can be a bullish signal for investors.
Risk Assessment
Risk Level: low — This filing indicates stable or increased insider ownership, which generally reduces investment risk by aligning management's interests with shareholders.
Analyst Insight
Investors should view Gil Shwed's substantial and stable ownership as a positive indicator, suggesting strong alignment between management and shareholder interests. This could be a factor to consider when evaluating the long-term investment potential of Check Point Software Technologies Ltd.
Key Numbers
- 29,744,539 — Total Ordinary Shares (Aggregate amount beneficially owned by Gil Shwed, indicating his significant stake.)
- 25.3% — Percentage of Class (The portion of Check Point Software Technologies Ltd. owned by Gil Shwed, highlighting his substantial influence.)
- 24,884,539 — Directly Held Shares (The number of shares Gil Shwed directly owns, forming the majority of his beneficial ownership.)
- 4,860,000 — Option Shares (The number of shares Gil Shwed can acquire through exercisable stock options, adding to his total beneficial ownership.)
Key Players & Entities
- Gil Shwed (person) — Reporting Person, founder and CEO of Check Point Software Technologies Ltd.
- Check Point Software Technologies Ltd. (company) — The Issuer of the securities
- 06 Technology (company) — Organization name associated with the subject company
- 29,744,539 ordinary shares (dollar_amount) — Aggregate amount beneficially owned by Gil Shwed
- 25.3% (dollar_amount) — Percentage of class represented by Gil Shwed's beneficial ownership
- 24,884,539 ordinary shares (dollar_amount) — Shares directly held by Gil Shwed
- 4,860,000 ordinary shares (dollar_amount) — Shares Gil Shwed has the right to acquire via stock options
- December 31, 2023 (date) — Date of event requiring the filing
- February 13, 2024 (date) — Filing date of the SC 13G/A
Forward-Looking Statements
- Gil Shwed will continue to hold a significant ownership stake in Check Point Software Technologies Ltd. for the foreseeable future. (Gil Shwed) — high confidence, target: 2025-12-31
- The high insider ownership by the CEO will contribute to stable long-term strategic decisions for Check Point Software Technologies Ltd. (Check Point Software Technologies Ltd.) — medium confidence, target: 2026-12-31
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is Gil Shwed, who is identified as the founder and CEO of Check Point Software Technologies Ltd. and is an individual citizen of Israel.
What is the total aggregate amount of ordinary shares beneficially owned by Gil Shwed as reported in this filing?
Gil Shwed beneficially owns an aggregate amount of 29,744,539 ordinary shares of Check Point Software Technologies Ltd., as stated in Row 9 of the filing.
What percentage of Check Point Software Technologies Ltd.'s class of securities does Gil Shwed's beneficial ownership represent?
Gil Shwed's beneficial ownership represents 25.3% of the class of securities, as indicated in Row 11 of the Schedule 13G/A.
How are the 29,744,539 ordinary shares beneficially owned by Gil Shwed composed?
The 29,744,539 ordinary shares consist of (i) 24,884,539 ordinary shares directly held by Gil Shwed and (ii) 4,860,000 ordinary shares that he has the right to acquire pursuant to exercisable stock options, as detailed in the footnote to the filing.
What was the 'Date of Event which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event which Requires Filing of this Statement' was December 31, 2023, as specified on the cover page of the filing.
Filing Stats: 811 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-02-13 08:21:32
Filing Documents
- zk2430940.htm (SC 13G/A) — 44KB
- 0001178913-24-000500.txt ( ) — 45KB
(a) Name of Issuer
Item 1(a) Name of Issuer Check Point Software Technologies Ltd. (the "Issuer").
(b) Address of Issuer's Principal
Item 1(b) Address of Issuer's Principal Executive Offices 5 Shlomo Kaplan, Tel Aviv 6789159, Israel
(a)-(b) Name of Person Filing; Address of
Item 2(a)-(b) Name of Person Filing; Address of Principal Business Office or, if none, Residence (a) Gil Shwed (the "Reporting Person") (b) c/o Check Point Software Technologies Ltd. 5 Shlomo Kaplan Street, Tel Aviv 6789159, Israel
(c) Citizenship
Item 2(c) Citizenship Israel
(d) Title of Class of Securities
Item 2(d) Title of Class of Securities Ordinary Shares, nominal value NIS 0.01 per share
(e) CUSIP Number
Item 2(e) CUSIP Number M22465 10 4 Item 3 If this Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: Not applicable.
Ownership
Item 4 Ownership (a) Amount beneficially owned : 29,744,539 Ordinary Shares, which consists of (i) 24,884,539 ordinary shares held by the Reporting Person and (ii) 4,860,000 ordinary shares that the Reporting Person has the right to acquire pursuant to stock options that are exercisable within 60 days of December 31, 2023. (b) Percent of class beneficially owned : 25.3% including the unexercised stock options referenced in subsection (a) above. Without such unexercised stock options, the 24,884,539 ordinary shares held by the Reporting Person represented 22.0% of the outstanding ordinary shares and voting rights as of December 31, 2023. (c) Number of shares as to which the person has : (i) Sole power to vote or direct the vote: 24,884,539 ordinary shares outstanding (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of 29,744,539 ordinary shares* (iv) Shared power to dispose or to direct the disposition of: 0 The 4,860,000 ordinary shares subject to the stock options referenced above do not have any voting rights unless and until such stock options are exercised by the Reporting Person. The Reporting Person has been advised by the Issuer that, as of December 31, 2023, the Issuer had 112,906,427 ordinary shares outstanding. Page 3 of 5 Pages
Ownership of
Item 5 Ownership of Five Percent or Less of a Class Not applicable.
Ownership of
Item 6 Ownership of More than Five Percent on Behalf of Another Person Not applicable. Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company Not applicable. Item 8 Identification and Classification of Members of the Group Not applicable.
Notice of
Item 9 Notice of Dissolution of Group Not applicable.
Certification
Item 10 Certification Not applicable. Page 4 of 5 Pages Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Dated: February 13, 2024 By: /s/ Gil Shwed Gil Shwed Page 5 of 5 Pages