Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 308

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 308
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 The achievement of market goals of the MSUs outstanding as of December 31, 2024 shall be determined in accordance with a defined performance measurement methodology.
(3) Summary of Information about Employees’ Share Incentive Plans
Details for the year ended December 31 2024 2023 2022
────────────────────────────────────────────────────────────────────────────────────
The intrinsic value of converted RSUs $28,667 $26,976 $48,829
The original fair value of converted RSUs $26,510 $24,206 $23,492
Stock-based compensation expenses were recognized in the Statement of Operations for the years ended December 31, 2024, 2023 and 2022 as follows:
Details 2024 2023 2022
────────────────────────────────────────────────────────────────────────────────────────────────────────────
Cost of goods $ 8,764 $ 8,332 $ 7,393
Research and development, net 7,422 5,639 4,754
Marketing, general and administrative 17,651 13,960 12,068
Total stock-based compensation expense $ 33,837 $ 27,931 $ 24,215
C. Treasury Stock
During 1999 and 1998, the Company funded the purchase by a trustee of an aggregate of approximately87thousand ordinary Tower shares. These shares are classified as treasury shares.

NOTE 15:INFORMATION ON GEOGRAPHIC AREAS AND MAJOR CUSTOMERS

A. Revenues by Geographic Area - as Percentage of Total Revenue

Years ended December 31, 2024, 2023 and 2022:

  Details                      2024      2023      2022  
 ─────────────────────────────────────────────────────────
  USA                            42        46        49  
  Japan                          16        17        16  
  Asia (other than Japan)        33        27        26  
  Europe                          9        10         9  
  Total                         100       100       100  

The basis of attributing revenues from external customers to a certain geographic area is based on the headquarters’ location of the customer issuing the purchase order.

B. Long-Lived Assets by Geographic Area

Substantially all of Tower’s long-lived assets are located in Israel, substantially all of TSNB’s and TSSA’s long-lived assets are located in the United States, substantially all