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TSEMTower Semiconductor Ltd · Insider ownership research

Tower Semiconductor Ltd insiders sold $60.0M in the past 12 months. How much of their stake is that?

Insiders sold $60.0M in the past 12 months.0% was sold under disclosed trading plans, 100% with no plan disclosed. The largest seller, Russell Ellwanger (Chief Executive Officer), sold $60.0M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 13, 2026 from SEC filings · covers Oct 14, 2025 to Oct 13, 2026
$60.0M
sold with no plan disclosed, past 12 months
0%
of sales were under disclosed trading plans, past 12 months
2 of 13
officers and directors sold shares, past 12 months
Latest filing: Filed Sep 14 for a sale on Sep 10. Yoav Chelouche sold 232 shares ($50K) with no plan disclosed. Filing
SEC ownership filings: 26 filed in the 12 months to Oct 13, 2026; 26 on record since May 28, 2026 · See the evidence

What stands out

Russell Ellwanger sold $60.0M of stock with no disclosed trading plan. The filings don't state a reason.Largest such sale, Aug 11, 2026
Selling picked up in the last 90 days: officers and directors sold 182K shares, against an average of 22K per 90 days earlier in the period. Most of it was Russell Ellwanger (182K shares in the last 90 days) and Yoav Chelouche (232 shares in the last 90 days); 0% of these sales were under disclosed plans.Russell Ellwanger: largest recent sale, Aug 11, 2026 · Yoav Chelouche: largest recent sale, Sep 10, 2026

A share of stake is shown for 0 of the 2 officers and directors who sold. 13 are left out

i
Left out: Russell Ellwanger, Amir Elstein, Marco Racanelli, Rafy Mor, Oren Shirazi, Yoav Chelouche, Iris Avner, Avi Hasson, Wolkin Vakrat, Kalman Kaufman, Dana Gross, Moshe Ben and Carolin Seward (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Russell Ellwanger
Chief Executive Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$60.0MNo plan disclosed
Yoav Chelouche
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$50KNo plan disclosed
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNovDecJanFebMarAprMayJunJul 2026: $14.4M no plan disclosedJulAug 2026: $45.6M no plan disclosed$45.6MAugSep 2026: $50K no plan disclosedSepOct

Recent activity

Past 30 days, Sep 14, 2026 to Oct 13, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Sep 10, 2026Yoav Chelouche sold 232 shares ($50K) with no plan disclosed.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Yoav Chelouche
Director
232$215.06n/an/aSep 10, 2026Sep 14, 2026

Common questions

Is the Tower Semiconductor Ltd CEO selling stock?

Yes. Russell Ellwanger sold 248K shares ($60.0M) in the past 12 months, none of it under a trading plan disclosed in the filings.

Why are Tower Semiconductor Ltd insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Tower Semiconductor Ltd insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold2 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Russell Ellwanger
Chief Executive Officer
$60.0M
248K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Yoav Chelouche
Director
$50K
232 shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
The full ownership picture0 of 13 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 13, 2025SoldHeld Oct 13, 2026Still held
Russell Ellwanger
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Russell Ellwanger are complete.
Chief Executive Officer
n/a−248Kn/an/a
Vesting, gifts, unvested awards and holding lines for Russell Ellwanger

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Russell Ellwanger are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Amir Elstein
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Amir Elstein are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Amir Elstein

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Amir Elstein are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Marco Racanelli
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Marco Racanelli are complete.
President
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Marco Racanelli

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Marco Racanelli are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Rafy Mor
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Rafy Mor are complete.
Chief Operating Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Rafy Mor

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Rafy Mor are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Oren Shirazi
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Oren Shirazi are complete.
Chief Financial Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Oren Shirazi

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Oren Shirazi are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Yoav Chelouche
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Yoav Chelouche are complete.
Director
n/a−232n/an/a
Vesting, gifts, unvested awards and holding lines for Yoav Chelouche

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Yoav Chelouche are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Iris Avner
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Iris Avner are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Iris Avner

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Iris Avner are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Avi Hasson
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Avi Hasson are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Avi Hasson

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Avi Hasson are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Wolkin Vakrat
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Wolkin Vakrat are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Wolkin Vakrat

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Wolkin Vakrat are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Kalman Kaufman
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Kalman Kaufman are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Kalman Kaufman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Kalman Kaufman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Dana Gross
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Dana Gross are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Dana Gross

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Dana Gross are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Moshe Ben
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Moshe Ben are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Moshe Ben

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Moshe Ben are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Carolin Seward
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Carolin Seward are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Carolin Seward

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Carolin Seward are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Tower Semiconductor Ltd are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$60.0M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $60.0M across 248,731 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $60.0M

Sales with no 10b5-1 plan and no tax reference in the filing. $60.0M of it is Russell Ellwanger. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Russell Ellwanger, Aug 11, 2026

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Russell Ellwanger
Chief Executive Officer
248K$60.0M0%99.9%Jul 13, 2026 to Aug 11, 2026
Yoav Chelouche
Director
232$50K0%0.1%Sep 10, 2026 to Sep 10, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$0$0$0$0
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$0$0$0$0
Jul 2026$14.4M$0$0$14.4M
Aug 2026$45.6M$0$0$45.6M
Sep 2026$50K$0$0$50K
Oct 2026$0$0$0$0
Known gaps and uncertainty13 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Tower Semiconductor Ltd are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology26 filings on record, 26 filed in the 12-month period, and how we read them

All 26 Forms 3, 4 and 5 on record for Tower Semiconductor Ltd (SEC CIK 928876), filed from May 28, 2026 to Sep 14, 2026; 26 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 13, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

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