Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 100

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 100
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 and qualified in its entirety with reference to, a notice provided to the Company by Menora Mivtachim Holdings  

  (3)      Based solely upon, and qualified in its entirety with reference to, a notice provided to the Company by Migdal Insurance & Financial  

  (4)      Based solely upon, and qualified in its entirety with reference to, a notice provided to the Company by Senvest Management, LLC,  

  (5)      Based solely upon, and qualified in its entirety with reference to, a notice provided to the Company by Phoenix Holdings Ltd. reflecting  

  (6)      Based solely upon, and qualified in its entirety with reference to, a notice provided to the Company by Clal Insurance Enterprises  

  (7)      Based solely upon, and qualified in its entirety with reference to, a Schedule 13G filed on February 13, 2025, by Point72 Asset Management,  

Other than as disclosed in the table above, in Item 7A of our annual
report on Form 20-F for each of the years ended December 31, 2022 and 2023, and other filings with the SEC, we are not aware of a significant
change in the percentage ownership held by our major shareholders since January 1, 2022.

As of April 1, 2025, based on information provided to us by our
transfer agent in the United States, there were a total of 12 holders of record of our ordinary shares, of which 8 were registered with
addresses in the United States. Such U. S. record holders were, as of such date, the holders of record of approximately 70% of our outstanding
ordinary shares. The number of record holders in the United States is not representative of the number of beneficial holders nor is it
representative of where such beneficial holders are resident since many of these ordinary shares were held by brokers or other nominees
(including one U. S. nominee company, CEDE & Co., which held approximately 70% of our outstanding ordinary shares as of such date,
including those held for the benefit of the TASE clearing house as a member of Depository Trust Company).

64

B. RELATED PARTY TRANSACTIONS

Other than executive officer and director compensation, executive
officer employment arrangements, equity-based compensation award agreements with officers and directors, indemnification and exculpation
arrangements with officers and directors, and directors’ and officers’ liability insurance, as discussed elsewhere in