STOCK TITAN
  1. Home
  2. Sec-filings
  3. TSEM
  4. [Form 4] TOWER SEMICONDUCTOR LTD Insider Trading Activity

Tower Semiconductor CEO sells 66,964 shares

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.

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
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 708,323 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

  • None.

Negative

  • None.

Insights

Analyzing...

Insider Ellwanger Russell Craig
Role Chief Executive Officer
Sold 66,964 shs ($14.40M)
Type Security Shares Price Value
Sale Ordinary Shares F1, F2 10,899 $210.8201 $2.30M
Sale Ordinary Shares F1, F3 17,173 $211.9483 $3.64M
Sale Ordinary Shares F1, F4 9,797 $212.7959 $2.08M
Sale Ordinary Shares F1, F5 9,878 $213.8328 $2.11M
Sale Ordinary Shares F1, F6 3,025 $217.9321 $659K
Sale Ordinary Shares F1, F7 2,118 $219.01 $464K
Sale Ordinary Shares F1, F8 4,936 $219.8235 $1.09M
Sale Ordinary Shares F1, F9 4,772 $220.8834 $1.05M
Sale Ordinary Shares F1, F10 1,856 $222.4827 $413K
Sale Ordinary Shares F1, F11 2,510 $234.7107 $589K
Holdings After Transaction: Ordinary Shares — 708,323 shares (Direct)
Footnotes (11)
  1. F1. 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.
  2. F2. 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
  3. F3. 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
  4. F4. 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
  5. F5. 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
  6. F6. 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
  7. F7. 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
  8. F8. 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
  9. F9. 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
  10. F10. 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
  11. F11. 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
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
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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many TSEM shares did CEO Russell Ellwanger sell in this Form 4?
Russell Craig Ellwanger sold 66,964 Ordinary Shares of Tower Semiconductor Ltd. The transactions occurred on July 13, 2026 and were reported as 10 separate open-market sales on the Tel Aviv Stock Exchange, all relating to previously granted, fully vested restricted stock units.

At what prices and where were TSEM CEO Russell Ellwanger’s shares sold?
The reported prices are weighted average prices for multiple trades, with example ranges such as $210.33 to $211.27 per share. All sales were executed on the Tel Aviv Stock Exchange in New Israeli Shekels, using an exchange rate of 3.025 ILS to $1.000.

How many TSEM shares does Russell Ellwanger hold after these reported sales?
After the reported transactions, Russell Craig Ellwanger directly holds 764,388 Ordinary Shares of Tower Semiconductor Ltd. This post-transaction holding reflects his remaining direct equity position following the 66,964 shares sold on July 13, 2026 in Tel Aviv.

Were the TSEM CEO’s share sales made under a pre-arranged trading arrangement?
Yes. The filing states the sales were effected under a pre-arranged, pre-scheduled order instruction established on March 12, 2026. It further notes that Russell Craig Ellwanger set this instruction when he was not in possession of material non-public information.

What type of equity was involved in Russell Ellwanger’s TSEM share sales?
The sales relate to restricted stock units (RSUs), each representing a contingent right to receive one Ordinary Share of Tower Semiconductor Ltd. The RSUs were granted more than three years ago and had become fully vested before the July 13, 2026 sales.

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Ellwanger Russell Craig
(Last)(First)(Middle)
288 COUNTY ROAD #127
(Street)
BEDFORD WYOMING 83112
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
TOWER SEMICONDUCTOR LTD [ TSEM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Executive Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/13/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Ordinary Shares07/13/2026S(1)10,899D$210.8201(2)764,388D
Ordinary Shares07/13/2026S(1)17,173D$211.9483(3)747,215D
Ordinary Shares07/13/2026S(1)9,797D$212.7959(4)737,418D
Ordinary Shares07/13/2026S(1)9,878D$213.8328(5)727,540D
Ordinary Shares07/13/2026S(1)3,025D$217.9321(6)724,515D
Ordinary Shares07/13/2026S(1)2,118D$219.01(7)722,397D
Ordinary Shares07/13/2026S(1)4,936D$219.8235(8)717,461D
Ordinary Shares07/13/2026S(1)4,772D$220.8834(9)712,689D
Ordinary Shares07/13/2026S(1)1,856D$222.4827(10)710,833D
Ordinary Shares07/13/2026S(1)2,510D$234.7107(11)708,323D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
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.
2. 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
3. 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
4. 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
5. 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
6. 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
7. 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
8. 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
9. 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
10. 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
11. 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
/s/ Meirav Shemesh on behalf of Oppenheimer Israel, as Attorney-in-fact07/15/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

Keep reading

More on TSEM

Trending in the feed

Open the live feed