Russell Craig Ellwanger, chief executive officer of Tower Semiconductor Ltd ($TSEM), sold $8,759,046.24 worth of company stock on Aug. 11, 2026. The open-market sale covered 35,208 shares at $248.78 each, according to a Form 4 filed with the SEC on Aug. 12. The filing listed 550,522 shares still owned after the transaction.
That was the largest single sale Ellwanger reported since the start of July. On Aug. 11, he executed ten open-market sales totaling 104,226 shares and $25,883,140.19 in value. Per-share prices ranged from $243.32 to $253.92, and individual sale sizes ran from 2,098 to 35,208 shares. The three largest sales that day, 35,208 shares, 23,028 shares, and 15,816 shares, accounted for $18,420,455.04 of the total. The 23,028-share sale was recorded at $248.08 per share for $5,712,786.24.
A day earlier, on Aug. 10, Ellwanger executed 17 additional open-market sales totaling 77,309 shares for $19,676,615.89. Prices that day ranged from $245.93 to $263.78. The largest sale was 9,720 shares at $256.56 per share for $2,493,763.20. Across the two trading days, his reported sales reached 181,535 shares and $45,559,756.08. All 27 transactions were disclosed in Form 4 filings dated Aug. 12.
The activity extended back into July. On July 13, Ellwanger reported ten open-market sales totaling 66,964 shares for $14,398,782.17, at prices ranging from $210.82 to $234.71. The largest sale in that batch was 17,173 shares at $211.95 per share for $3,639,788.16. Those July transactions were disclosed in filings dated July 15, two days after the trade date.
Across the three reporting dates, Ellwanger's Form 4 sales since July 1 totaled 37 open-market transactions covering 248,499 shares and $59,958,538.25. He was the only company insider to file trades for $TSEM during that window. Every transaction was a sale; the filings showed no purchases or equity grants by other insiders in the same period.
Tower Semiconductor Ltd is a semiconductor company whose stock trades under the $TSEM ticker, with a market capitalization of about $28.5 billion. Shares of $TSEM closed at $252.55 on Aug. 10 and $249.58 on Aug. 11. The Aug. 11 transactions were disclosed one day after they executed. The Aug. 10 and July 13 transactions appeared in filings two days after the respective trade dates. The August sales executed at higher per-share prices than the July transactions, which ranged from $210.82 to $234.71.