Tower Semiconductor Ltd. Chief Executive Officer Russell Craig Ellwanger filed a Form 4 with the SEC on August 12, 2026, disclosing the sale of ordinary shares on August 10 and August 11, 2026, pursuant to a pre-arranged trading plan.

Key Highlights

  • Reporting Person: Russell Craig Ellwanger, Chief Executive Officer of Tower Semiconductor Ltd.
  • Shares Sold (Aug. 10): A total of 68,931 ordinary shares were disposed of across 17 transactions on August 10, 2026, at weighted average prices ranging from $245.93 to $263.78 per share.
  • Shares Sold (Aug. 11): An additional 104,226 ordinary shares were disposed of across 10 transactions on August 11, 2026, at weighted average prices ranging from $243.32 to $253.92 per share.
  • Remaining Ownership: Following all reported transactions, Ellwanger directly beneficially owned 526,788 ordinary shares, according to the filing.
  • Pre-arranged Plan: According to the filing, the sales were "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."
  • Share Origin: The filing states the shares sold relate to restricted stock units granted more than three years ago that have become fully vested, with each unit representing a contingent right to receive one ordinary share.
  • Exchange: All shares were sold on the Tel Aviv Stock Exchange in New Israeli Shekels, at an exchange rate of 2.998 ILS to $1.000 on the transaction dates, according to the filing.

Tower Semiconductor CEO Reports Multi-Day Share Disposals Under 10b5-1 Plan

According to the Form 4 filed with the SEC, Ellwanger disposed of ordinary shares of NASDAQ:TSEM across two trading days. On August 10, 2026, the filing reports 17 separate sale transactions totaling 68,931 shares at weighted average prices between $245.93 and $263.78. On August 11, 2026, an additional 10 transactions covering 104,226 shares were reported at weighted average prices between $243.32 and $253.92. All sales were coded "S" in the filing, indicating open-market sales.

The filing notes that all reported prices are weighted averages, with each transaction representing multiple individual executions within a stated price range. The shares were sold on the Tel Aviv Stock Exchange and denominated in New Israeli Shekels, converted to U.S. dollars using an exchange rate of 2.998 ILS to $1.000. The filing states that Ellwanger "undertakes to provide full information regarding the number of shares sold at each separate price upon request."

The filing indicates the trading instruction was established on March 12, 2026, and is consistent with Rule 10b5-1(c). The shares sold originated from restricted stock units granted more than three years prior to the transactions. Following all reported disposals, the filing records Ellwanger's direct beneficial ownership at 526,788 ordinary shares.

What Was Disclosed

The filing discloses the sale of 173,157 ordinary shares of Tower Semiconductor Ltd. by CEO Russell Craig Ellwanger on August 10 and 11, 2026, under a pre-arranged plan, leaving him with direct beneficial ownership of 526,788 shares.