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

Gil Shvid, CEO of cybersecurity company Check Point, recently announced his retirement from the position he has held for over 30 years. In 2023, Shvid received rewards worth 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 came in the form of capital allocation. For comparison, in 2022, Shvid’s rewards cost $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 equity-based rewards.

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

By Samantha Jones

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