Ellwanger Russell Craig 4

What Happened
Russell Craig Ellwanger, CEO of Tower Semiconductor Ltd. (TSEM), received a grant of 22,918 restricted stock units (RSUs) on 2026-07-02. The Form 4 reports an acquisition price of $0.00 (typical for RSU awards); no cash value is shown on the filing itself. The RSUs are contingent rights to receive one share per RSU upon vesting.

Key Details

• Transaction date: 2026-07-02; Form 4 filed: 2026-07-06.
• Transaction type/code: Award/Grant (A). Price reported: $0.00.
• Vesting schedule (per footnote): 7,639 RSUs vest 07/02/2027; 7,639 vest 07/02/2028; 7,640 vest 07/02/2029 — all subject to continued service.
• Shares owned after transaction: not specified in the supplied filing data.
• Footnote: Each RSU represents a contingent right to one ordinary share at vesting.
• Filing timeliness: filing date and transaction date are shown above; timeliness (late/on-time) is not indicated in the provided data.

Context
RSU grants are a common form of executive compensation designed to align management with shareholders; they are not open-market purchases or sales and therefore do not by themselves signal a bullish or bearish market bet. Upon vesting the RSUs typically convert into shares (sometimes net of shares withheld for taxes), so future dilution and any subsequent sales would be disclosed in later filings.