Tower Semiconductor (TSEM) CEO Russell Ellwanger Sells 181,535 Shares

What Happened

• Russell Craig Ellwanger, Chief Executive Officer of Tower Semiconductor Ltd. (TSEM), sold a total of 181,535 shares on Aug 10–11, 2026. The transactions were dispositions of vested restricted stock units (RSUs).
• The sales occurred across many trades at prices roughly between $243 and $264 per share, generating aggregate proceeds of approximately $45.56 million. These sales are reported as open-market/private sales (code S) rather than purchases.

Key Details

• Transaction dates: Aug 10–11, 2026; prices reported range roughly from $243.32 to $263.78 (USD equivalents). Total shares sold: 181,535. Total proceeds: $45,559,755 (≈ $45.56M).
• These RSUs were granted more than three years ago and were fully vested; the filing notes the sales were effected pursuant to a pre-arranged, pre-scheduled order instruction established March 12, 2026 (reporting person stated they were not in possession of material non-public information when the plan was set).
• Many of the trades were executed on the Tel Aviv Stock Exchange in ILS (reported USD prices use exchange rates ~2.998–3.005 ILS = $1). Several line items include weighted-average price footnotes for groups of transactions.
• Shares owned after the transactions are not disclosed in this Form 4. The filing was made on Aug 12, 2026 and appears timely relative to the transaction dates (not marked late).

Context

• These were sales of already-vested RSUs (not exercises or new awards). The pre-scheduled instruction indicates the trades were planned in advance (similar to a 10b5-1 style arrangement), which is commonly used by insiders to sell shares on a preset schedule.
• Sales do not necessarily indicate negative views about the company—RSU liquidations are frequently used for diversification or personal liquidity. As always, retail investors should consider insider trades alongside company fundamentals and other information.