According to Haaretz, Marius Nacht, the chairman of Check Point Software Technologies and one of the company’s three founders, has quietly sold off more than 40% of his stake in the company. A 5.2% stake, or about 10 million shares at an average price of $81 per share.
The newspaper is citing documents filed with the U.S. Securities and Exchange Commission.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
Cyber security technology Check Point, was established in 1993, by CEO Gil Shwed, Chairman Marius Nacht and Shlomo Kramer, who left Check Point in 2003.
By 1996 the company was named worldwide firewall market leader with a market share of 40 percent. In June 1996 the company has raised $67 million from its IPO on NASDAQ. As for 2015 Check Point’s Revenue $1.6 billion with 4,000 employees.
The SEC filing shows that Marius Nacht sold the shares over the course of 2016, when the price of a Check Point share on Nasdaq rose to $85. His remaining 6.8% stake in Check Point is worth about $1.2 billion.
Gil Shwed and Shlomo Kramer retain more than a 24% stake in the company, making them the single biggest shareholders.