Tower Semiconductor (TSEM) CEO sells 66,964 shares under plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Tower Semiconductor Ltd Chief Executive Officer Russell Craig Ellwanger reported open-market sales of 66,964 Ordinary Shares on July 13, 2026, across 10 transactions on the Tel Aviv Stock Exchange. The shares relate to restricted stock units granted more than three years ago that are now fully vested and were sold under a pre-arranged, pre-scheduled order instruction established on March 12, 2026, when he was not in possession of material non-public information. Following these sales, he directly holds 764,388 Ordinary Shares. Sale prices are disclosed as weighted averages, with trades executed in New Israeli Shekels at an exchange rate of 3.025 ILS to $1.000.
Positive
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Negative
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Insights
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Insider Trade Summary
Net Seller: 66,964 shares ($14,398,782)
Net Sell
10 txns
Insider
Ellwanger Russell Craig
Role
Chief Executive Officer
Sold
66,964 shs ($14.40M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 10,899 | $210.8201 | $2.30M |
| Sale | Ordinary Shares | 17,173 | $211.9483 | $3.64M |
| Sale | Ordinary Shares | 9,797 | $212.7959 | $2.08M |
| Sale | Ordinary Shares | 9,878 | $213.8328 | $2.11M |
| Sale | Ordinary Shares | 3,025 | $217.9321 | $659K |
| Sale | Ordinary Shares | 2,118 | $219.01 | $464K |
| Sale | Ordinary Shares | 4,936 | $219.8235 | $1.09M |
| Sale | Ordinary Shares | 4,772 | $220.8834 | $1.05M |
| Sale | Ordinary Shares | 1,856 | $222.4827 | $413K |
| Sale | Ordinary Shares | 2,510 | $234.7107 | $589K |
Holdings After Transaction:
Ordinary Shares — 764,388 shares (Direct)
Footnotes (1)
- The sales reported in this Form 4 relate to restricted stock units, each of which represents a contingent right to receive one share of ordinary stock of Tower Semiconductor Ltd. (the "Company"), that the Reporting Person was granted more than 3 years ago, hence all has become fully vested; the sale was effected pursuant to a pre-arranged, pre-scheduled order instruction established by the Reporting Person on March 12, 2026, when the reporting Person was not in possession of material non-public information. The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $210.33 to $211.27. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $211.37 to $212.36. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $212.37 to $213.36. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $213.39 to $214.22. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $217.36 to $218.31. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $218.38 to $219.21. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $219.39 to $220.33. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $220.40 to $221.16. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $222.28 to $222.62. These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels (ILS). The exchange rate in effect on the transaction date was 3.025 ILS to $1.000 . The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request
Key Figures
Shares sold: 66,964 Ordinary Shares
Number of transactions: 10
Exchange rate: 3.025 ILS to $1.000
+1 more
4 metrics
Shares sold
66,964 Ordinary Shares
Aggregate open-market sales reported for July 13, 2026
Number of transactions
10
Count of separate open-market sale entries reported
Exchange rate
3.025 ILS to $1.000
Rate applied to Tel Aviv Stock Exchange sales
Shares held after sales
764,388 shares
Direct Ordinary Share holdings following reported transactions
Key Terms
restricted stock units, weighted average price, Tel Aviv Stock Exchange, material non-public information
4 terms
restricted stock units financial
"The sales reported in this Form 4 relate to restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
weighted average price financial
"The price reported is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Tel Aviv Stock Exchange financial
"These shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels"
The Tel Aviv Stock Exchange is Israel’s main marketplace where stocks, bonds and exchange-traded funds are bought and sold, providing a centralized place for investors to trade ownership in companies and government debt. It matters because it sets real-time prices and liquidity for Israeli securities, offering a barometer of the country’s corporate health and giving investors a way to enter or exit positions much like an auction house or farmers’ market sets the price for goods.
material non-public information regulatory
"when the reporting Person was not in possession of material non-public information"
Material non-public information is important news about a company that hasn't been shared with the public yet, like a secret that could affect its stock price. Using this inside information to buy or sell stocks is unfair and illegal because it gives someone an unfair advantage over others who don’t have the same info.
FAQ
In what currency were TSEM CEO Russell Ellwanger’s trades executed and how were they converted?
The trades were executed in New Israeli Shekels (ILS) on the Tel Aviv Stock Exchange. For reporting, an exchange rate of 3.025 ILS to $1.000 on the transaction date was used to present the sale prices in U.S. dollar terms.